Andrew County

Andrew County sits at a median home price of $304,687, up 6.77% year-over-year, with an affordability index of 65 out of 100. The data shows a cash-flow score of 0 and a cap rate of 0, which signals that rent levels here do not cover acquisition costs at current prices under conventional financing, at least not at the county median. The appreciation score of 91, however, places this market firmly on the appreciation end of the spectrum. This is not a market you buy for day-one yield. You buy it because the price trajectory has been consistent and the overall score of 71 puts it in the 82nd percentile nationally and 20th out of 113 Missouri counties, suggesting the market is being recognized by the broader investor community.

The numbers make the investor profile straightforward. An appreciation buyer or equity-growth investor who can absorb neutral or slightly negative early cash flow while waiting for continued price gains has the most logical case here. A cash-flow buyer looking for a monthly surplus at a $304,687 purchase price with a 6.85% rate will not find it in this data set; the combination of price point and financing cost eliminates the spread without a significant down payment or seller concession. A value-add operator could find opportunity if they can acquire below the county median and force appreciation through renovation, but the underlying rent economics would still need to pencil before that story holds. The 6.77% annual price gain is real, but investors should stress-test whether that pace continues given the 50 stability score, which suggests this market carries some cyclical or demographic risk alongside its appreciation profile.

No economic anchor data was provided for Andrew County, so the drivers behind rental demand and employment stability cannot be assessed from the available inputs. That is a gap worth closing before committing capital. A county of 18,069 people offers a thin renter pool by definition, and without knowing what employers anchor that population, you are underwriting blind on the demand side.

Combined monthly property tax and insurance on a $304,687 purchase comes to approximately $358, using a state-average effective tax rate of 0.97% and an insurance rate of 0.44%. The tax rate is flagged as normal, meaning it is neither a meaningful tailwind nor a drag relative to Missouri broadly, but $358 per month is still a real line on your pro forma before you touch debt service, maintenance, or management. As the data notes, the 0.97% figure is a state-average estimate; actual Andrew County or township rates may differ, and you should pull the county assessor's effective rate before finalizing any underwrite.

The primary risk here is concentration. A population of 18,069 means the rental market is thin and highly sensitive to individual employer decisions or demographic shifts. The stability score of 50 reinforces this, sitting exactly at the midpoint of the scale. In a small market, a single business closure or a shift in commuting patterns can move vacancy materially. The data does not provide vacancy figures, but small-population rural or exurban counties historically see sharper swings when conditions change.

Comparing neighbors clarifies when Andrew makes sense and when it does not. Butler County and Saint Louis City both offer rent-to-price ratios of 0.067 and 0.088 respectively, versus a ratio that appears to be below the breakeven threshold implied by Andrew's zero cash-flow score. Buchanan County, at a median of $182,875 and a rent-to-price ratio of 0.058, comes in cheaper but still appears to cash-flow better in relative terms at its price point. Clinton County and Maries County lack rent data in the provided inputs, limiting direct comparison. If your primary objective is current yield, Butler County at $160,556 median or Saint Louis City at $175,441 median with a 0.088 rent-to-price ratio are worth the trade-off in appreciation potential. Andrew County earns the allocation only if you are explicitly prioritizing price appreciation and can carry flat or negative early cash flow, and if you believe the 6.77% annual gain has legs that its neighbors cannot match.