Missouri Mortgage Calculator
Estimate your monthly mortgage payment in Missouri based on the state median home price of $235K, a 0.97% property tax rate, and $2K/year homeowners insurance.
Why This Matters in Missouri
In Missouri, property taxes average 0.97% of assessed value. On the state median home of $235K, that adds $190/month to your mortgage payment — close to the national average. Combined with $183/month for homeowners insurance, your non-mortgage housing costs in Missouri total $373/month before you even account for principal and interest.
Missouri's median home price of $235K makes it one of the more affordable states to buy in. At this price point, FHA loans with 3.5% down require just $8,225 for a down payment.
What to Expect for a Mortgage Payment in Missouri
On the median Missouri home priced at $235K, a buyer putting 10% down at a 6.5% rate would face a principal-and-interest payment of roughly $1,337 per month. Add $190/mo in property taxes and $183/mo for homeowners insurance, and the total PITI comes to approximately $1,710 each month. That median price sits about 33% below the national median of roughly $350K, which directly shapes how much house most Missouri borrowers can realistically target.
Missouri's comparatively affordable housing market gives buyers a meaningful advantage. At a $235K median, FHA loans with just 3.5% down require only $8K upfront — well within reach for many first-time buyers. Even conventional loans at 5% down need just $12K. The lower price point also means private mortgage insurance (PMI) costs less in absolute terms, keeping the total monthly payment manageable.
Homeowners insurance in Missouri averages around $2K per year, which adds $183 to the monthly PITI. This is manageable relative to many other states. To bring the total payment down further, consider the MHDC First Place Loan program, which offers up to 4% cash assistance for qualifying buyers — reducing the down payment barrier and potentially lowering your loan amount.