How to Buy a House in Missouri
Updated 2026-03-02 | Data from Zillow, HUD, Tax Foundation
Avg Home Price
$264,646
Closing Costs
$10,735
4.06% of price
Property Tax Rate
0.88%
$1,676/yr median
Days on Market
38
Median
FHA Loan Limit
$472,030
Attorney Required
No
Foreclosure Type
Non-Judicial
Transfer Tax
None
None
Missouri offers an unusually diverse housing market for a Midwestern state, with two major metros (Kansas City and St. Louis) each providing distinct market dynamics, cultural identities, and economic drivers. Kansas City's market has been one of the Midwest's strongest performers, fueled by a diversified economy, the Google Fiber effect on tech growth, and significant downtown and Crossroads district development. St. Louis offers potentially the best housing value of any major US metro, with stately brick homes in historic neighborhoods available at prices that would buy nothing comparable on either coast. Missouri's real estate practices are conventional — no attorney required, deed of trust with non-judicial foreclosure, and standard seller disclosure requirements.
By BuyAHomeIn Editorial | Updated 2026-03-02 | Sources: Zillow, HUD, Tax Foundation
Key Facts About Buying in Missouri
- ✓No transfer tax
- ✓Affordable housing in both Kansas City and St. Louis metros
- ✓Non-judicial foreclosure state
- ✓Strong MHDC first-time buyer programs
The Home Buying Process in Missouri
Buying a home in Missouri follows a 10-step process. Missouri does not require an attorney at closing, though you may choose to hire one.
Check Your Credit Score & Finances
Get Pre-Approved for a Mortgage
Find a Real Estate Agent
Search for Homes & Make an Offer
Get a Home Inspection
Secure Your Financing
First-Time Buyer Programs in Missouri
MHDC First Place Loan Program
Below-market rates with cash assistance
Cost of Buying a Home in Missouri
| Down Payment (3.5% FHA) | $9,263 |
| Down Payment (20% Conventional) | $52,929 |
| Average Closing Costs | $10,735 |
| Transfer Tax | None |
| Annual Property Tax (est.) | $2,329/yr |
Legal & Regulatory Details in Missouri
Homestead Exemption
Available
Up to $15,000
Licensing Authority
Missouri Real Estate Commission
Missouri Real Estate Law Overview
| Conveyance Document | Warranty, special-warranty and trustee deeds |
| Security Instrument | Deed of trust |
| Foreclosure Process | Non-Judicial |
| Attorney Required at Closing | No |
| Deficiency Judgment | Yes |
| Redemption After Sale | Conditional |
| Reinstatement Available | No |
| Seller Disclosures | Sellers must avoid fraud and must disclose known material problems. Specific statutes require disclosure of solid-waste disposal sites, demolition landfills and any history of meth-amphetamine production; murders or suicides need not be disclosed. |
