If you want to buy an affordable home, a new study says there are few places better to go to than St. Louis, Missouri. That's what data from a new demographic study says.

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I saw this surprising news shared by Bloomberg/Quint. The data that their report was based on was from a Demographia International Housing study. They list the top 5 most affordable places in the world (I'll repeat that...WORLD) to buy a home and St. Louis comes in at #5 with Pittsburgh being #1.

I decided to explore why St. Louis would be such an affordable place when my perception is that it isn't. The St. Louis Business Journal kind of backs up the affordability of St. Louis stating that it's a top 4 city for cost of living compared with other metros.

I would argue that it depends where in St. Louis you're willing to live that either makes the case (or doesn't) for the city being affordable. As Movoto says, if you're willing to live in Wood River, that is affordable for many. Want to live in Ladue? Dream on. For Webster Groves and Chesterfield, you're gonna pay a pretty penny for real estate. That's one reason why I know of many that work in St. Louis and live in Troy, Missouri.

Check out the full Bloomberg/Quint report for more details on how the city under the arch is such a great deal.

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