Postal codes in Lake of the Ozarks, MO, have a profound influence on real estate purchases and must be considered by home buyers during their decision making.
Every Lake of the Ozarks zip code is a key factor that can impact your real estate investment, from determining property values to predicting market trends.
This article explores how zip codes affect the real estate trends in Lake of the Ozarks, MO, as well as nearby cities.
Understanding Lake of the Ozarks' Real Estate Landscape
As of November 2024, Lake of the Ozarks, MO, was a buyer’s market. This means that the supply of homes in this city was greater than the demand for homes.
The average home value in Lake of the Ozarks, MO, was $296,549, a 1.9% increase compared to the same month in the previous year. Properties typically sell after 64 days on the market.
The Role of Zip Codes in Real Estate
Zip codes have a significant effect on various financial aspects related to real estate transactions.
Home prices can fluctuate significantly depending on the zip code of the property. This variation demonstrates the disparities in property values within the same city or region, with some zip codes commanding higher prices due to factors like location, amenities, and demand.
Property taxes, for instance, can vary considerably based on location. Certain zip codes may have higher property tax rates compared to others, which may influence the overall cost of home ownership.
Home insurance premiums are also affected by zip codes, as insurers assess risks based on factors that are unique to specific areas.
And lastly, the resale value potential of homes is greatly influenced by their zip code. Certain locations may experience higher appreciation rates over time, making them more appealing for potential buyers looking to invest in real estate.
Zip Code 65721: A Prime Example
65721 is the zip code for Lake of the Ozarks, MO. The median home value in this city is $275,300, significantly lower than the national median value of $338,100.
However, compared to the nation’s 1-year house appreciation rate of 8.27%, Lake of the Ozarks has a higher appreciation rate of 16.70%.
This appreciation rate could be a result of several factors, such as strong economic growth in the area and increased investment from companies or individuals who are looking to take advantage of the growing market.
Overall, the housing market in Lake of the Ozarks, MO, has a faster appreciation rate than the national average, offering greater potential for both buyers and investors.
Economic Growth and Zip Code Trends
From 2021 to 2022, employment in Lake of the Ozarks, MO, grew at a rate of 0.274%, employing from 10,200 to 10,300 individuals. Based on the most recent data, the median household income in Lake of the Ozarks, MO, is $62,169.
The largest industries in Lake of the Ozarks, MO, are the following:
- Health Care & Social Assistance: 1,601 employees
- Educational Services: 1,402 employees
- Retail Trade: 1,207 employees
The highest-paying industries are:
- Professional, Scientific, & Technical Services: $76,000
- Wholesale Trade: $62,857
- Professional, Scientific, Management, Administrative, Waste Management Services: $59,948
The Influence of Zip Codes on Rental Markets
Renters in zip code 65721 make up 26.6% of the Lake of the Ozarks, MO, population, with 1.0% of houses and apartments in the city available to rent.
Zip codes play a significant role in determining rent rates. For one, they help landlords and property managers categorize their properties based on location. Different zip codes often have varying levels of desirability and amenities, which can affect rental prices.
Websites and online platforms that aggregate rental listings use zip codes to make it easier for renters to search for properties within specific areas and find information about rent rates in different zip codes.
These online tools and resources make it convenient for people to compare rental prices. Websites like Rent.com, Zillow, and Apartments.com are reliable sources for information about rental properties across different zip codes.
The Role of Zip Codes in Marketing Real Estate
Several key points must be considered when examining real estate market trends and zip codes.
Zip codes have an impact in housing prices, resulting in substantial disparities in certain areas which may experience significant fluctuations in value over time.
Fluctuations in housing appreciation rates specific to zip codes highlight the importance of location as a fundamental factor in real estate investment decisions.
It is important to understand how zip codes influence real estate transactions, as this is vital for making well-informed choices and optimizing the potential returns on investments.
Luxury Real Estate Near Lake of the Ozarks by Zip Code
If you’re looking for luxury homes near Lake of the Ozarks, MO, the zip codes below lead to the various neighborhoods surrounding Lake of the Ozarks. These areas are some of the most breathtaking places to live in Missouri.
Conclusion
When it comes to buying a home in Lake in the Ozarks, MO, and nearby cities, one must not overlook the importance of zip codes, as these have a significant impact property values, financial decisions, market trends, and overall neighborhood dynamics.
If you are looking for homes in Lake of the Ozarks, MO, I can help you make an informed decision so you maximize the return on your real estate investment.
Give me a call today at 573-746-0133 or send me an email at ryan@ryansells.com for any questions about the area or if you’d like to schedule an appointment.
Frequently Asked Questions
What are the most expensive zip codes in Lake of the Ozarks?
Some of the most expensive zip codes in Lake of the Ozarks, MO, include 65771, 65809, 65810, 65742, 65714, and 65721.
Which zip codes are best for families?
65049 (Lake Ozark), 65020 (Camdenton), 65037 and 65038 (Laurie), and 65079 (Sunrise Beach) are some of the best zip codes for families.
How do zip codes affect rental markets?
Zip codes play a significant role in determining rent rates. Different zip codes often have varying levels of desirability and amenities, which can affect rental prices.
