Macon County

Macon County lands at the 98th percentile nationally out of 1,000 counties scored, ranking second in Missouri out of 113. That placement is driven almost entirely by appreciation mechanics rather than cash flow. The data shows a cash-flow score of 0 and a cap rate of 0, which reflects missing rent and expense inputs rather than a verified underwrite, so treat the cash-flow picture as unresolved until you run local rent comps. What the data does confirm is a median home price of $187,471, year-over-year price growth of 6.27%, an appreciation score of 90, and an affordability index of 90. That combination, entry price well below most markets, meaningful price acceleration, and high affordability, is the defining characteristic of this county. The gross price-to-rent ratio cannot be calculated from the provided data, so any cash-flow projection requires you to source rental rates independently before committing capital.

The investor this market suits most clearly is the appreciation buyer with a patient hold horizon. A $187,471 entry at 6.27% annualized price growth means roughly $11,750 in nominal appreciation over the first year on a purchase requiring only $37,494 down at 20%. That is a meaningful return on equity from price movement alone, before any rental income is counted. The affordability score of 90 suggests the local buyer pool can still absorb price increases without immediate demand destruction, which supports continued upward pressure on values. A value-add operator looking at distressed acquisitions benefits from the same dynamic: low entry basis, a rising price floor, and an affordable market that makes repositioned properties easier to sell or refinance. The cash-flow buyer needs to verify rents before underwriting; the zeroed-out cash-flow score is a data gap, not a confirmed loss, but it does signal this market was not scored on cash flow and should not be assumed to pencil without local rent research.

No economic anchor data was provided for Macon County, so this analysis does not speculate on employers or job drivers. Investors should independently verify the county's employment base, particularly whether any single employer represents an outsized share of local rental demand, given the population of 15,173. Small counties at that scale can shift meaningfully if a major employer contracts or relocates.

On carry costs, the combined monthly tax and insurance estimate is $220, based on Missouri's state-average effective property tax rate of 0.97% and an insurance rate of 0.44%. That note comes with a necessary caveat: this is a state-average estimate per Tax Foundation 2024 data, and actual rates at the county or township level may differ. At 0.97%, the rate falls in the normal range and does not represent a material headwind, but $220 per month in fixed carry cost still needs to show up on your underwrite, particularly if you are evaluating thin-margin rentals or a property that sits vacant during lease-up. At a $187,471 purchase price, that $220 covers roughly 1.4% of value annually in tax and insurance alone before mortgage, maintenance, or management.

The primary risk here is concentration and scale. A county of 15,173 people has a narrow rental market. Vacancy events, local economic disruptions, or demographic outflows can move quickly and with limited offsetting demand from other tenant segments. The stability score of 50 is the weakest dimension in the county's profile and directly reflects this exposure. Investors accustomed to markets with deep tenant pools and diversified employment should model for extended vacancy, higher turnover costs, and potentially slower re-leasing timelines relative to urban or suburban alternatives.

Among the neighboring counties, Macon compares favorably on overall score against all five neighbors, which range from 70 to 80. Linn County scores highest at 80 but prices in at $139,094, offering a lower entry basis that may appeal to investors prioritizing maximum affordability and cash-flow potential. Butler County, the only neighbor with rent data provided, shows a rent-to-price ratio of 0.0067, which translates to roughly $900 rent on a $160,556 median home. That ratio is a useful benchmark: if Macon's rent-to-price is materially lower once you source local rents, Butler may be the stronger cash-flow play despite its lower overall score. Andrew County and Clinton County price in at $281,483 and $275,256 respectively, both scoring below Macon, meaning you are paying 50% more in entry price for a lower-ranked market. Livingston County is nearly price-equivalent to Macon at $188,828 but scores two points lower. Choose Macon over its neighbors when the investment thesis is appreciation and affordability at scale; choose Linn or Butler if rent coverage and cash-flow certainty are the primary underwriting criteria.