This is the 'costliest' county for home ownership in Missouri
Home ownership is often one of life's most significant investments. For residents of one county in the St. Louis metropolitan area, that investment is pricier than anywhere else in the state, new research finds.
MISSOURI - Home ownership is often one of life's most significant investments. For residents of one county in the St. Louis metropolitan area, that investment is pricier than anywhere else in the state, new research finds.
A new report from 24/7 Wall St. recently named "the costliest place to own a home" in every U.S. state, identifying counties with pricy homes, high mortgage rates, and significant property taxes.
According to the research team at 24/7 Wall St., the priciest county to own a home in Missouri is none other than St. Charles County.
The report revealed that St. Charles County has a median home value of nearly $278,000 compared to a statewide median home value of around $199,000.
Not surprisingly, to afford such homes, incomes also surpassed state norms. St. Charles County has a median household income of nearly $100,000 compared to a statewide median of nearly $66,000, according to the report.
Data also showed that St. Charles County residents pay a median annual property tax bill of $3,200 compared to a statewide average of $1,300 per capita.
To name counties with the "costliest place" designation, 24/7 Wall St. used data from the Tax Foundation nonprofit.
For every county with such a designation, figures exceeded typical statewide property tax payments by at least $500, and in some cases by several thousand dollars.
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