Mortgage Calculator & Closing Costs: Lee's Summit, MO
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Lee's Summit, Missouri.
Median Home Price
$325K
Population
101K
Avg Monthly Rent
$1,350
Property Tax Rate
0.97% *
* Property tax shown is the Missouri state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Lee's Summit.
Lee's Summit vs Missouri Median
The median home price in Lee's Summit is $325,000, which is 38% above the Missouri state median of $235,000.
Mortgage Calculator — Lee's Summit, MO
Pre-filled with Lee's Summit median home price and Missouri tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $325K home using Missouri's 0.97% tax rate and $2,200/yr insurance.
5% Down
$2,578/mo
Down: $16,250
Loan: $309K
P&I: $1,952
Tax: $263
Insurance: $183
PMI: $180
10% Down
$2,465/mo
Down: $32,500
Loan: $293K
P&I: $1,849
Tax: $263
Insurance: $183
PMI: $171
20% Down (No PMI)
$2,089/mo
Down: $65,000
Loan: $260K
P&I: $1,643
Tax: $263
Insurance: $183
Income needed (28% rule): $90K/year with 20% down, $106K/year with 10% down.
Rent vs Buy in Lee's Summit
Rent
$1,350/mo
vs
Buy (10% down)
$2,465/mo
Price-to-rent ratio: 20.1 — At a ratio above 20, renting may be more economical in Lee's Summit for shorter stays. Buying costs $1,115 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Lee's Summit is $325,000, 38% above the Missouri state median of $235,000. With a population of 101,108, Lee's Summit is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in Missouri average 0.97% annually. This moderate property tax rate means a $325,000 home in Lee's Summit would carry roughly $263/month in property taxes. Homeowners insurance in Missouri runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in Lee's Summit is $1,350/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Lee's Summit presents moderate affordability. The $325K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Lee's Summit.