What are average mortgage rates in Missouri in 2026?

Mortgage rates in Missouri generally track national averages. As of 2026, expect 30-year fixed rates from 5.5% to 7.5% for good credit borrowers. Use CalcDeck's Missouri mortgage calculator to model your payment at current rates.

How much are closing costs in Missouri?

Closing costs in Missouri typically range from 2% to 5% of purchase price, including lender fees, title insurance, and prepaid items. Use CalcDeck's Missouri mortgage calculator to include closing costs in your calculation.

What are property tax rates in Missouri?

Property tax rates in Missouri range from 0.3% to 2.5% of assessed value. CalcDeck's Missouri calculator includes property tax in your PITI payment.

What first-time homebuyer programs exist in Missouri?

Missouri offers down payment assistance, favorable-rate mortgages, and tax credits through state agencies. Use CalcDeck's Missouri calculator to see how programs affect your payment.

How do I use the CalcDeck Missouri mortgage calculator?

Enter home price, down payment, interest rate, and loan term. Adjust property tax and insurance to match Missouri averages. Get instant monthly payment, total interest, and amortization schedule.

Missouri Mortgage Calculator

Median home prices, property taxes, and monthly payment estimates for Missouri homeowners.

Missouri at a Glance

Median Home Price: $238,000
Property Tax Rate: 0.97%
Median Household Income: $65,260
Annual Property Tax: $2,309

Sources: Zillow ZHVI (2024), Tax Foundation (2023), US Census ACS (2023)

Monthly Mortgage Payment in Missouri

Based on the Missouri median home price of $238,000 at 6.7% interest (30-year fixed):

Payment Breakdown	20% Down	5% Down
Loan Amount	$190,400	$226,100
Principal and Interest	$1,229	$1,459
Property Tax (MO)	$192	$192
Homeowners Insurance	$125	$125
PMI	$0	$94
Total Monthly	$1,546	$1,871

How Much House Can You Afford in Missouri?

Using the 28/36 rule (housing costs under 28% of gross income):

With 20% down, you need ~$66,257/year to afford Missouri's median home
With 5% down, you need ~$80,167/year
Missouri's median household income is $65,260

Missouri insight: Missouri's property tax rate of 0.97% is near the national average.

Missouri Housing Market Overview

Missouri's housing market remains affordable with a median home price of $238,000. St. Louis's median is $235,000, Kansas City $285,000, Springfield $225,000, and Columbia $260,000 (University of Missouri drives demand). Inventory is moderate at 3.2 months, giving buyers some negotiating power. The median household income of $65,260 yields a price-to-income ratio of 3.6, very manageable. The effective property tax rate of 0.97% costs about $2,309/year on a median home, though St. Louis city has higher effective rates due to school district levies. Missouri has no state income tax on Social Security and partial exemptions on pensions, making it attractive for retirees. Kansas City's tech sector (Garmin, Cerner) drives steady demand.

First-Time Homebuyer Programs in Missouri

The Missouri Housing Development Commission (MHDC) offers the First Place Loan program, providing 30-year fixed-rate FHA, VA, USDA, or conventional mortgages with cash assistance up to 4% of the purchase price—capped at $9,520 on a $238,000 home. The Next Step program serves non-first-time buyers with similar terms. MHDC also offers the Mortgage Credit Certificate (MCC) program, providing a 20% federal tax credit on mortgage interest. Local programs include Kansas City's Homeownership Assistance Program ($5,000 grants) and St. Louis's Community Development Administration program ($3,000–$10,000 assistance). Income limits: Jackson County caps at $78,000 for a two-person household; rural counties cap at $66,000.

Tips for Homebuyers in Missouri

1) Missouri's 0.97% property tax is reasonable—~$192/month on a median home—but St. Louis city rates can push 1.5% due to special school levies. 2) Tornado risk is significant statewide; many homes have basements or storm shelters—verify this feature. 3) The Kansas City market is competitive for homes under $300,000, but inventory over $400,000 sits longer, giving buyers leverage. 4) Buy in fall/winter (October–February) for 3–5% price reductions and less competition. 5) Foundation cracks are common due to expansive clay soils (the 'gumbo' soil in western MO); always get a structural inspection. 6) Radon levels are elevated in the Ozarks and central Missouri; test every home and budget $800–$1,200 for mitigation.

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Missouri Mortgage FAQ

What is the median home price in Missouri?

The median home price in Missouri is approximately $238,000 as of 2024 (Zillow ZHVI). Your actual price will vary by city and neighborhood.

What is the property tax rate in Missouri?

The effective property tax rate in Missouri is approximately 0.97% (Tax Foundation). On a $238,000 home, that is about $2,309/year in property taxes.

How much income do I need to buy a home in Missouri?

Using the 28/36 rule with 20% down at 6.7%, you would need about $66,257/year to afford the median Missouri home at $238,000. With 5% down (including PMI), about $80,167.

What will my monthly mortgage payment be in Missouri?

On Missouri's median home price of $238,000 with 20% down at 6.7%, your total monthly payment (P and I plus tax plus insurance) is approximately $1,546. With 5% down including PMI, about $1,871.

Data sources: Zillow ZHVI typical home values (2024), Tax Foundation effective property tax rates (2023), US Census Bureau ACS median household income (2023). Mortgage rate assumption: 6.7% APR 30-year fixed. This is an estimate — use our calculator for personalized numbers.