How do I find market data for my area? (Columbia, MO)

Question

Hello,

I am currently looking into getting an FHA loan for a duplex to house hack. Are there any recourses to learn more about my specific area (average prices, average rents, website to find housing listings, historical housing prices, etc.). I'm looking in Columbia, MO (a big college town), so if anyone has any specific insight that would be much appreciated as well.

Thank you

David Lund · Answer

Great insight, thank you!

Jim Viens · Answer

A lot of that general data is available by googling it (try something like "columbia missouri real estate market data"). Since MO is a "non-disclosure" state you may need to work with a licensed agent with MLS access to pull some of the more granular data like actual sold prices in a particular area. You can also reach out to some property management companies for data like average rents. For active listings you can use Zillow or Redfin.

Will Pieper · Answer

@David Lund I would suggest calling a property management company or Realtors like Milton and I that invest in the market you are considering. Just be careful who you deal with. We hear plenty of stories where the Realtor said something would rent for 1% and then they close and find out that was blatantly wrong. Happy to share my insights with you if you'd like.

David Lund · Answer

Thanks for the reply! I’ll be in touch.

Drew Sygit · Answer

Start with Zillow and if not enough data for you, then pursue MLS data.

Milton Chamberlain · Answer

Hi David!

I am from Columbia, and own 3 single family investments there. I plan to purchase two more there in the coming year.

I do not work in Columbia (I live in KC) but I have connected buyers with some great agents in that area. Last year my preferred agent put a friend of mine into a triplex, and another friend of mine's son into a duplex (to live in while the son goes to Mizzou).

If you want to chat, hit me up! Columbia's MLS data is locked up pretty tight, but on zillow I do see that there is a multifamily coming on in a qualified zone that allows you access to dramatically lower rates through a government program. seems like this could potentially be a good opportunity.

I recently helped a buyer use one here, and without the program her rate would have been in the 5.5-6% range, but with the program her rate was 3.25% (30 year FHA)

message me if you would like to discuss your goals more.

Nate Sanow · Answer

One thing I get from my MLS is rental comps. I love it as much as I love sales comps. Zillow etc shows advertised prices but the mls will show prices that actually signed a lease. The point I’m making is connecting with a good agent is wise for this information. I wish you well!

David Lund · Answer

Wow, thank you so much for all this information!! :D

How do I find market data for my area? (Columbia, MO)

How do I find market data for my area? (Columbia, MO)

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