Property Management in Lake St Louis, Missouri
Set near two lakes between interstate highways 64 and 70, sits the planned community known as Lake St. Louis, Missouri. The community is a direct suburb of the much larger metropolis, St. Louis. The population of the community sits just above 14,500, growing annually by 1-2 percent. Approximately 60 percent of all adults in the area are married and the average household size is roughly 2.5 people. The community is largely considered to be somewhat wealthy, with the average median household income falling just over $68,000 per year. Only 3 percent of the population falls below the poverty line.
Lake St Louis, Missouri Details
The median home value for the community is $262,900. The median price of homes currently listed on the market, however, it $332,000. Overall, the real estate market conditions are considered to be hot, reflecting trends across the greater United States. The average price to rent a 2 bedroom home in the area is $1213 per month.
The community was first established in January of 1961. Ira Nathan and Iris Ellerman founded the community initially as a private resort area, which was a very popular development concept of the 60s. The initial concept was to build a private resort centered around a large lake that could be enjoyed by nearby residents during the weekend. Several years later the project would stall out due to financial constraints and the area would remain undeveloped until 1968. Lead by the developer RT Crow, the community would change to become a planned residence area, rather than a resort. By the end of 1968 units would be built in the community and the first residents would start to move in. Over the coming decades, more and more residents would buy pre-developed lots in the area, eventually growing the community to the size that it is now.
One of the major development projects within the community, outside of the housing, is the Shoppes at Hawk Ridge. It is an 800,000 square foot retail development that can be found in the south end of the area. What sparked the development of Shoppes at Hawk Ridge was the $26 million dollar highway overpass that was completed nearby in 2005. The overpass leads traffic away from I-64 highway and straight to the mall and retail area of the development. All of America’s top retail outlet chains can be found here such as a Wal-mart Supercenter, Lowe’s, and many more. The retail area is constantly expanding and new projects are being developed or planned continually.
The second major retail development in the community is the Meadows at Lake St Louis. Built in 2008, this huge open area shopping center caters mostly to the community’s large affluent residents. Considered to be somewhat “upscale”, here you can find stores like Von Maur and others. A Hilton Hotel, Marcus, and Saks Fifth Avenue are likely to be added to the Meadows in the coming wave of new development projects.
If you are interested in having your rental property analyzed then please give us a call today.
Lake St Louis Property Management
Our property management team specializes in residential areas throughout Lake St Louis, MO. We offer multiple services to take your rental property and convert it into reliable income. We have a thorough screening process that helps to identify the right tenants for your property. Our team works hard to keep both parties happy through effective communication, bullet proof lease agreements, and timely monthly rent collection. We offer maintenance services to enhance the property and ensure that it will retain or increase in value. We oversee everything, allowing you to sit back and relax and know that your property and your tenants are in good hands.