CALCMONEY // HOME AFFORDABILITY // MO
Find out how much home you can afford in Missouri using local median home prices, current mortgage rates, and MO-specific property tax data.
Open Full Calculator$245,000
$1,598/mo
$212,103
$68,466/yr
| Median Home Price | $245,000 |
| Down Payment (20%) | $49,000 |
| Loan Amount | $196,000 |
| Monthly PI Payment | $1,297 |
| Monthly Property Tax | $198 |
| Monthly Insurance Est. | $102 |
| Total Monthly PITI | $1,598 |
| Required Gross Income (28% rule) | $68,466/yr |
| Max Affordable Price (28% rule) | $212,103 |
$8,575
$2,033/mo
Missouri Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $245,000 | State median |
| Down Payment (20%) | $49,000 | Conventional |
| Monthly PITI (median home) | $1,598 | 6.95% rate |
| Required Income (28% rule) | $68,466 | Annual gross |
| Max Affordable Home | $212,103 | Based on median income |
| FHA Down Payment (3.5%) | $8,575 | Minimum FHA |
Monthly PITI includes principal, interest, property tax, and homeowners insurance.
The median home price in Missouri is $245,000, with a current 30-year fixed mortgage rate of 6.95%. A buyer putting 20% down on the median home would carry a loan of $196,000, resulting in a monthly principal and interest payment of $1,297. Once property taxes and insurance are added, total monthly housing costs reach $1,598.
Property taxes in Missouri average 0.97%, near the national average of 1.1%. On the median Missouri home, property taxes add $198/month to total housing costs.
Missouri levies a state income tax of 2%–4.95%, which affects take-home pay and therefore what you can realistically budget for housing. Mortgage interest may be deductible on both federal and Missouri state returns — consult a tax professional for your situation.
Using the 28% rule, a household earning Missouri's median income of $61,000/year can afford up to $1,423/month in total housing costs (principal, interest, taxes, and insurance). Based on Missouri's current mortgage rate of 6.95% and property tax rate of 0.97%, that translates to a maximum affordable home price of approximately $212,103 with 20% down on a 30-year loan.
To comfortably afford the median Missouri home priced at $245,000, you need an annual gross income of approximately $68,466. This is based on the standard 28% rule: your total monthly housing costs (principal and interest of $1,297, property taxes of $198, and insurance of $102) come to $1,598/month, which should not exceed 28% of your gross monthly income.
Missouri's average property tax rate is 0.97%, which is near the national average of 1.1%. On the median Missouri home of $245,000, that means annual property taxes of $2,377, or $198/month. Because lenders include property taxes in your debt-to-income calculation, Missouri's property taxes have a relatively modest impact on overall affordability.
The minimum down payment depends on your loan type. For an FHA loan, you can put down as little as 3.5% — on the median Missouri home of $245,000, that is $8,575. Conventional loans typically require 5% down, though some programs allow 3%. Putting down 20% ($49,000 on the median Missouri home) lets you avoid private mortgage insurance (PMI), which can add 0.5%–1% to your annual loan cost. There are no Missouri-specific minimum down payment requirements beyond federal guidelines.