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FHA Loans in Missouri

About This State and its People, Places, and Industries

Missouri is a U.S. state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. Missouri is the 18th most populous state with a 2009 estimated population of 5,987,580. It comprises 114 counties and one independent city. Missouri's capital is Jefferson City. The four largest urban areas are St. Louis, Kansas City, Springfield, and Columbia. Missouri was originally acquired from France as part of the Louisiana Purchase and became defined as the Missouri Territory. Part of the Missouri Territory was admitted into the union as the 24th state on August 10, 1821.

Missouri mirrors the demographic, economic and political makeup of the nation with a mix of urban and rural culture. It has long been considered a political bellwether state. With the exceptions of 1956 and 2008, Missouri's results in U.S. presidential elections have accurately predicted the next President of the United States in every election since 1904. It has both Midwestern and Southern cultural influences, reflecting its history as a border state. It is also a transition between the Eastern and Western United States, as St. Louis is often called the "western-most Eastern city" and Kansas City the "eastern-most Western city." Missouri's geography is highly varied. The northern part of the state lies in dissected till plains while the southern part lies in the Ozark Mountains a (dissected plateau), with the Missouri River dividing the two. The confluence of the Mississippi and Missouri River rivers is located near St. Louis.

In 2009, Missouri had an estimated population of 5,987,580; an increase of 392,369 (7.0 percent) since the year 2000. From 2000 to 2007, this includes a natural increase of 137,564 people since the last census (480,763 births less 343,199 deaths), and an increase of 88,088 people due to net migration into the state. Immigration from outside the United States resulted in a net increase of 50,450 people, and migration within the country produced a net increase of 37,638 people. Over half of Missourians (3,294,936 people, or 55.0%) live within the state's two largest metropolitan areas–-St. Louis and Kansas City. The state's population density 86.9 in 2009, is also closer to the national average (86.8 in 2009) than any other state.

The U.S. Census of 2000 found that the population center of the United States is in Phelps County, Missouri. The center of population of Missouri itself is located in Osage County, in the city of Westphalia. As of 2004, the population included 194,000 foreign-born (3.4 percent of the state population).

The Bureau of Economic Analysis estimates that Missouri's total state product in 2006 was $225.9 billion. Per capita personal income in 2006 was $32,705, ranking 26th in the nation. Major industries include aerospace, transportation equipment, food processing, chemicals, printing/publishing, electrical equipment, light manufacturing, and beer.
The agriculture products of the state are beef, soybeans, pork, dairy products, hay, corn, poultry, sorghum, cotton, rice, and eggs. Missouri is ranked 6th in the nation for the production of hogs and 7th for cattle. Missouri is ranked in the top five states in the nation for production of soy beans. As of 2001, there were 108,000 farms, the second largest number in any state after Texas. Missouri actively promotes its rapidly growing wine industry.

Missouri has vast quantities of limestone. Other resources mined are lead, coal, and crushed stone. Missouri produces the most lead of all of the states. Most of the lead mines are in the central eastern portion of the state. Missouri also ranks first or near first in the production of lime, a key ingredient in Portland cement.
Tourism, services and wholesale/retail trade follow manufacturing in importance.

Personal income is taxed in 10 different earning brackets, ranging from 1.5 percent to 6.0 percent. Missouri's sales tax rate for most items is 4.225 percent. Additional local levies may apply. More than 2,500 Missouri local governments rely on property taxes levied on real property (real estate) and personal property. Most personal property is exempt, except for motorized vehicles. Exempt real estate includes property owned by governments and property used as nonprofit cemeteries, exclusively for religious worship, for schools and colleges and for purely charitable purposes. There is no inheritance tax and limited Missouri estate tax related to federal estate tax collection.
Missouri is the only state in the Union to have two Federal Reserve Banks: one in Kansas City (serving western Missouri, Kansas, Nebraska, Oklahoma, Colorado, northern New Mexico, and Wyoming) and one in St. Louis (serving eastern Missouri, southern Illinois, southern Indiana, western Kentucky, western Tennessee, northern Mississippi, and all of Arkansas). As of January 2010, the state’s unemployment rate is 9.5%.

Professional Sports Teams

• Major League Baseball: Kansas City Royals and St. Louis Cardinals
• National Football League: Kansas City Chiefs and St. Louis Rams
• National Hockey League: St. Louis Blues
• Central Hockey League: Missouri Mavericks
• Women's Professional Soccer: Saint Louis Athletica (franchise folded in June 2010)
• Major Indoor Soccer League: St. Louis Steamers and Kansas City Comets
• Arena Football: Kansas City Brigade and River City Rage (UIFL)
• World Team Tennis: Kansas City Explorers, Springfield Lasers and St. Louis Aces
• Cycling: Tour of Missouri

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