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Old 07-25-2018, 06:08 AM
 
406 posts, read 559,110 times
Reputation: 649

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I've been looking at real estate in some of the nicer areas of St. Louis such as Clayton, Ladue, Kirkwood, Webster Groves, etc and coming from Upstate New York, I was shocked to see how expensive housing is!

I was just kind of wondering... What type of demographic, in the Midwest, can afford 800K+ for a 2,000 sq ft house? Are these all doctors and CEOs? Wondering if there are young families here... and if so, I'm just wondering how they make it work.

My wife and I are in our early 30's and make a very comfortable income >200K and even we would be priced out of certain areas. I would see 499K as stretching our budget thin. What am I missing here?

Thanks!
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Old 07-25-2018, 07:44 AM
 
858 posts, read 424,020 times
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You asked what are the "best" neighborhoods in St.Louis, with no estimated price ceiling. In a metropolis of 3 million people, the "best" neighborhoods are going to be filled with high earners and old money. Yeah, their are some young families in Clayton and Ladue, but in general these areas will skew older. Keep in mind housing prices are going up across the country as the economy is improving.



You should be able to find something at your price point (1/2 Million?) in Kirkwood or Webster. Their are many more fine suburbs in St. Louis County which are safe and have good schools:


Sunset Hills
Manchester
Ballwin
Chesterfield
Ellsville
Wildwood
Creve Couer
Olivette
Richmond Heights
Brentwood
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Old 07-25-2018, 08:23 AM
 
406 posts, read 559,110 times
Reputation: 649
Quote:
Originally Posted by Mosep View Post
You asked what are the "best" neighborhoods in St.Louis, with no estimated price ceiling. In a metropolis of 3 million people, the "best" neighborhoods are going to be filled with high earners and old money. Yeah, their are some young families in Clayton and Ladue, but in general these areas will skew older. Keep in mind housing prices are going up across the country as the economy is improving.



You should be able to find something at your price point (1/2 Million?) in Kirkwood or Webster. Their are many more fine suburbs in St. Louis County which are safe and have good schools:


Sunset Hills
Manchester
Ballwin
Chesterfield
Ellsville
Wildwood
Creve Couer
Olivette
Richmond Heights
Brentwood
Thanks! I'll have a look at those areas as well.
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Old 07-25-2018, 09:17 AM
 
Location: STL area
2,125 posts, read 1,395,120 times
Reputation: 3994
Yes. There are, but they tend to be educated high earners married in their late 20s. At 200K+, you are a high earner, but what you want to commit to a home might be different. A lot of smaller homes in all those areas that people might start out in and then move up later. In Kirkwood, I've seen friends add on to houses that were smaller but in amazing locations. All of those areas are close in, super convenient, great schools...and you'll pay for it.

FWIW, Brentwood is also pretty expensive for the size of homes there...it's pretty hot lately and the schools are great.

The farther west you go, the houses will get bigger for the price, lots will get bigger, but if you along that 40/64 corridor, even out into St. Charles county...the schools will still be excellent. The income level doesn't really change that much as you go west...people just want more house for their money in Chesterfield than Clayton. People in Clayton tend to want the schools and the more semi-urban vibe. What I also like about the inner ring suburbs is that the public school districts are smaller and more intimate. Rockwood is especially large, the high schools are enormous. Great schools, but not at all intimate.

So look at Parkway and Rockwood school districts and see if you like what you see. Check out Crestwood and Sunset Hills (Lindbergh district).

You might even check out the Maplewood area. It's really up and coming, public schools are improving quickly there (they are probably a bit above average right now). Richmond Heights can be either Clayton, Ladue, or the Maplewood/Richmond Heights district.
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Old 07-25-2018, 09:33 AM
 
Location: STL area
2,125 posts, read 1,395,120 times
Reputation: 3994
Just to get an idea, for around 450K

Ballwin
https://www.coldwellbankerhomes.com/.../pid_25165559/

Clayton (condo)
https://www.coldwellbankerhomes.com/.../pid_22976711/

Chesterfield
https://www.coldwellbankerhomes.com/.../pid_25410703/

Ladue (which is actually an awesome location where you can walk to coffee/ice cream/restaurants)
https://www.coldwellbankerhomes.com/.../pid_26027756/

Maplewood (cheaper)
https://www.coldwellbankerhomes.com/.../pid_25637310/

Richmond Heights
https://www.coldwellbankerhomes.com/.../pid_25925058/

Brentwood (walking distance of a great park)
https://www.coldwellbankerhomes.com/.../pid_24232100/

Kirkwood
https://www.coldwellbankerhomes.com/.../pid_25673280/

Webster (harder to find for sure)
https://www.coldwellbankerhomes.com/.../pid_24489063/

Sunset Hills
https://www.coldwellbankerhomes.com/.../pid_20682314/
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Old 07-25-2018, 09:59 AM
 
Location: Saint Louis, MO
3,483 posts, read 9,011,731 times
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People often think of St. Louis as being "cheap" or "affordable" without forgetting those two things are very subjective and depend on the situation of the buyer.

My wife and I recently moved out of a home we purchased for 145k years ago, and into a home that cost a bit more than double that figure. My Sis-in-Law saw the home, and mentioned they paid about the same price (maybe a hair more) for their place in Denver...but they're in a 2 Bedroom Condo, while we're in a 3,100 SF single family.

Same time, I'm sure people in California would be jumping up and down at Denver's price point. While us in Missouri would cringe at it.
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Old 07-25-2018, 11:42 AM
 
406 posts, read 559,110 times
Reputation: 649
Quote:
Originally Posted by STL74 View Post
Just to get an idea, for around 450K

Ballwin
https://www.coldwellbankerhomes.com/.../pid_25165559/

Clayton (condo)
https://www.coldwellbankerhomes.com/.../pid_22976711/

Chesterfield
https://www.coldwellbankerhomes.com/.../pid_25410703/

Ladue (which is actually an awesome location where you can walk to coffee/ice cream/restaurants)
https://www.coldwellbankerhomes.com/.../pid_26027756/

Maplewood (cheaper)
https://www.coldwellbankerhomes.com/.../pid_25637310/

Richmond Heights
https://www.coldwellbankerhomes.com/.../pid_25925058/

Brentwood (walking distance of a great park)
https://www.coldwellbankerhomes.com/.../pid_24232100/

Kirkwood
https://www.coldwellbankerhomes.com/.../pid_25673280/

Webster (harder to find for sure)
https://www.coldwellbankerhomes.com/.../pid_24489063/

Sunset Hills
https://www.coldwellbankerhomes.com/.../pid_20682314/
What an awesome comparison, thank you so much!
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Old 07-25-2018, 11:44 AM
 
Location: Saint Louis, MO
1,912 posts, read 4,686,641 times
Reputation: 918
Ha--yes, the best of the best is expensive in any big city. Yes, there are definitely families in these areas, especially Webster Groves and Kirkwood (I think Clayton skews maybe a little older). Not everyone is buying the $800k new construction in Kirkwood/WG. There's plenty at the lower end of the market, too--smaller 3 bed ranches are all over the place in the low 200s in those spots (we used to live in one of these), and more in your price point if you look at renovated older homes. Clayton has tons of condos.

Frankly, the people I know our age (30s) buying the higher budget new construction in those spots have family $$ helping the situation or are dual income high earners comfortable spending tons of money on a house.

We're in the same place as you from an income standpoint and not wanting to spend all our money on a house (I'd prefer to retire early/travel), yet wanting something decent sized (between 1,500-2,200 sqft--beyond the entry level ranch size that we were in previously). We opted out of the Clayton/Kirkwood/Webster game (though we certainly looked) and ended up in the city, paying in the low $200s for a house but extra on the side for private school. Very happy with that decision. Lots of friends move to suburbs bordering WG/Kirkwood, or head west till they can afford the size house they want.



Also, welcome, my husband is from western NY--he always thinks the houses are more money here, but RE taxes are less, so things tend to even out. This is also a much bigger metro area with much more going on.
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Old 07-25-2018, 05:54 PM
 
3,618 posts, read 3,053,282 times
Reputation: 2788
Quote:
Originally Posted by STL74 View Post
Just to get an idea, for around 450K



Sunset Hills
https://www.coldwellbankerhomes.com/.../pid_20682314/
I like the Sunset Hills place at that price!

I can't prove it, but I would guess that St. Louis has more family-money-backed homeowners at the extreme high end of the market (let's say $800k+) than your average American city of 2-3 million people. Its all those business barons of the bygone eras great great grandkids. Used to be a bunch of Fortune 500 companies there. When the companies leave, often a lot of the executive riches stayed.
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Old 07-25-2018, 06:45 PM
 
Location: Saint Louis, MO
1,912 posts, read 4,686,641 times
Reputation: 918
Quote:
Originally Posted by zach_33 View Post
I like the Sunset Hills place at that price!

I can't prove it, but I would guess that St. Louis has more family-money-backed homeowners at the extreme high end of the market (let's say $800k+) than your average American city of 2-3 million people. Its all those business barons of the bygone eras great great grandkids. Used to be a bunch of Fortune 500 companies there. When the companies leave, often a lot of the executive riches stayed.
Ha, yes. I always feel like there's way more $$ here than you'd expect. One of my friends/coworkers is an MICD grad (fancy pants private school for the unfamiliar) and going to BBQs/parties at his house is like watching a reality TV show. Kids & grandkids of lots of former execs, complaints range from parents 'only' buying them a $500,000 house in Kirkwood, to getting cut out of the trust fund if they don't marry who their parents want.



Don't know if there's stats on this either, but I also feel like waaaay more recent grads live at home for a few years than in other cities I've lived in, in an effort to save money for a house/larger down payment. Like, I work in a very white collar field that hires a lot of people right out of school, and 90% of them live at home even though they could easily afford not to. A decade ago, I was one of two people out of the 20 or so people I started with that didn't live at home (the other wasn't from here, either). Still happening today. It blows my mind. But I guess if you can stay home for 3 years, save over $100,000, then get married to someone else with similar earning potential/savings, you've got enough for a big money house.
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