Mortgage payment estimates, closing cost breakdowns, and homebuying data for Wichita, Kansas.
Median Home Price
$195K
Population
398K
Avg Monthly Rent
$1,020
Property Tax Rate
1.41% *
* Property tax shown is the Kansas state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Wichita.
Wichita vs Kansas Median
The median home price in Wichita is $195,000, which is 13% below the Kansas state median of $225,000.
Mortgage Calculator — Wichita, KS
Pre-filled with Wichita median home price and Kansas tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $195K home using Kansas's 1.41% tax rate and $2,900/yr insurance.
5% Down
$1,750/mo
Down: $9,750
Loan: $185K
P&I: $1,171
Tax: $229
Insurance: $242
PMI: $108
10% Down
$1,682/mo
Down: $19,500
Loan: $176K
P&I: $1,109
Tax: $229
Insurance: $242
PMI: $102
20% Down (No PMI)
$1,457/mo
Down: $39,000
Loan: $156K
P&I: $986
Tax: $229
Insurance: $242
Income needed (28% rule): $62K/year with 20% down, $72K/year with 10% down.
Rent vs Buy in Wichita
Rent
$1,020/mo
vs
Buy (10% down)
$1,682/mo
Price-to-rent ratio: 15.9 — A ratio between 15-20 means the rent vs buy decision in Wichita depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Wichita is $195,000, 13% below the Kansas state median of $225,000. With a population of 397,532, Wichita is a mid-size city where home prices tend to be more accessible than in many parts of Kansas.
Property taxes in Kansas average 1.41% annually. This moderate property tax rate means a $195,000 home in Wichita would carry roughly $229/month in property taxes. Homeowners insurance in Kansas runs approximately $2,900 per year. This is within the normal range nationally.
Average rent in Wichita is $1,020/month. The price-to-rent ratio in Wichita is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Wichita offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Kansas's KHRC First-Time Homebuyer program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Wichita.