Gateway to the West
Discover St. Louis's Real Estate
One of the most famous cities in the American State of Missouri, St. Louis, is located along the Mississippi western bank. It is the second-largest City of the Missouri state after Kansas City, and being an inland port is well surrounded by river. This makes the neighborhoods of St. Louis, a place you want to spend your holidays or relaxation time. The town of the west has an estimated population of 300 000 people.
Culture, History, and Business
With a French history and background, the residents of St. Louis are majorly Catholics. Also, with a large number of immigrants from Italy, the city is a central cluster of the Catholic faithful in the United States and, consequently, one of the most liberal cities in the country.
Art is, of course, a guaranteed vice of Catholics; little wonder there are numerous art monuments in the gateway city. Some of them include the St. Louis art museum, the Missouri history museum, and the St. Louis zoo and botanical gardens.
The St. Louis Architecture shows a variety of residential, monumental and commercial architecture, hence there are many architectural erections scattered around the City like the Gateway Arch which has been a symbol of St. Louis for a while is the tallest constructed monument in the US with a height of 190 meters (630 feet).
And the name of the arch is a tribute to the City’s location hence; the Gateway to the west. Architectural influences expressed in the City include the French, German, Early American, and the Modern styles of architecture.
Real Estate Appeal
The year 2018 saw St. Louis become the home of more than ten fortune 500 companies. Such is the City’s stake in the most prominent business cities of the US. Little wonder the gross domestic product of the St. Louis municipal area was $146 billion in 2014, posing a 1.6% increase over five years.
The metro area had a per capita GDP of $48, 738 as of 2014, with an increasing percentage of a projected 2% yearly.
Manufacturing is the highest contributor to St. Louis’s economy grossing about $11 billion in businesses yearly. This is trailed distantly by health care $3.5 billion gross income, professional services $3.1 billion, and retail trade $2.5 billion.
However, the health care sector has the most extensive employee base, with over 34,000 workers followed closely by administrative and support jobs at 25,000 and manufacturing at 21,000 workers.
When looking to invest in St. Louis real estate, you should endeavor to buy property in the choicest of places, with a favorable forecast of expected property appreciation. The overall cost of living determines the pricing factor of a neighborhood, median home value to income ratio. These factors, when considered, posit that the running cost of owning and managing an investment property in St. Louis is on the low side.
When investing in real estate, especially in a neighborhood as dicey as St. Louis, location is a significant determinant because it influences demand, which is an abundant factor in a St. Louis neighborhood. If you want to invest in St. Louis, you should know the best places to invest in; you could check out our write up on the best places to invest in St. Louis.
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