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At Memphis Invest, we continually push forward to offer our investors new opportunities in new investment markets. When you partner with Memphis Invest, you know that you’re not only getting the best in services and advisers, but you receive to world-class markets on the rise, like St. Louis, Missouri.
What exactly does the Gateway to the West offer real estate investors? Read on below to find out.
Reigning as the 19th largest metropolitan area in the nation with a population of 2.8 million, St. Louis is a city on the upswing. Though the late 20th century brought tough times to St. Louis, the city has seen aggressive revitalization efforts in the last decade. Unemployment has been on a steady downward trajectory since the Great Recession, sitting at 3.6 percent at the end of 2018, just undercutting the U.S. unemployment rate of 3.7 percent.
In addition, St. Louis has seen a surge of grassroots efforts to improve the city. What this has created is an environment to encourages “disruptors” and innovators—from small business owners and craftsmen to city officials and students. Volunteer programs and public-private partnerships have led to the clean-up and reconstruction of areas of the city, fostering a renewed sense of pride in St. Louis.
This doesn’t begin to cover the renewed tourism efforts in St. Louis, including a $380 million dollar renovation project in the Gateway Arch National Park, in addition to the $8 billion poured into development citywide.
The growth in St. Louis is not due to aesthetic improvements alone. Through the rise of tech career opportunities with employers like Boeing, Unisys, and the Scott Air Force Base, the quality of living and job opportunities has risen. Such opportunities, as well as jobs in the healthcare and education sectors, are attracting young professionals.
These technology companies, however, in many respects, set the stage for revitalization by settling in St. Louis and bringing new, higher-paying jobs into the region.
Beyond the growing job market, we have to note the specific benefits of the St. Louis real estate market. With a surge of 21,000 new jobs in 2017 thanks to startup growth, rental demand has grown with it. The opportunities are attracting a growing population, and that population needs housing. With over half of St. Louis renting (only 43.6 percent were owner-occupants between 2013 and 2017 according to the U.S. Census Bureau), it’s safe to say that rental demand will continue to climb with population growth.
The St. Louis, Missouri market is full of vast potential for real estate investors. With its budding tech and startup scene bringing in population growth and rental demand while revitalization efforts surge, turnkey real estate investors have much to gain in the St. Louis real estate market.
Partnering with Memphis Invest yields the expertise and attention to detail in management and service to grow your portfolio and your bottom line in the up-and-coming St. Louis market.