Mortgage Calculator in Missouri

Calculate your monthly mortgage payment in Missouri using the 2026 median home price of $230K and current local rates. Adjust the inputs below to match your situation.

Missouri Housing Market at a Glance (2026)

$230K

Median Home Price

6.87%

Avg Mortgage Rate

1.01%

Property Tax Rate

10%

Typical Down Payment

Buying a Home in Missouri: Costs to Know

Average closing costs1.5% of purchase price

On a $230K home, closing costs ≈$3,450

Median household income$62,000/yr

State income tax (top rate)4.95%

First-Time Buyer Programs in Missouri

Missouri offers state-sponsored programs that can reduce your down payment or closing costs:

✓MHDC First Place Loan
✓MHDC Next Step

How Mortgage Payments Work in Missouri

A standard mortgage payment in Missouri is calculated using the amortization formula:M = P[r(1+r)^n] / [(1+r)^n - 1]

Where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments. On a $230K home in Missouri with a 10% down payment at 6.87% over 30 years, your principal and interest payment comes to approximately $1,359/month— not including property taxes or homeowner's insurance.

Missouri's property tax rate of 1.01% adds roughly $194/month to your total housing cost on a $230K home. This rate is near the national average of ~1.1%.

Missouri vs. National Average

Metric	Missouri	National Avg
Median Home Price	$230,000	$420,000
Property Tax Rate	1.01%	1.07%
Avg Mortgage Rate	6.87%	6.85%
Cost of Living Index	89	100

Frequently Asked Questions — Mortgage Calculator in Missouri

What is the average mortgage payment in Missouri?+

Based on the median home price of $230K in Missouri with a 10% down payment and 6.87% rate (30-year fixed), the estimated monthly principal and interest payment is approximately $1,359. Adding property taxes (~$194/mo) and homeowner's insurance, total PITI is typically $1,703–$1,803/month.

What is the property tax rate in Missouri?+

Missouri has an average effective property tax rate of 1.01%. On the median home price of $230K, that equals roughly $2,323 per year — or $194 added to your monthly mortgage payment. This is near the national average of ~1.1%.

How much down payment do I need to buy a home in Missouri?+

The typical down payment in Missouri is 10% — about $23,000 on the median $230K home. Conventional loans require as little as 3% down; FHA loans allow 3.5%. First-time buyers may also qualify for assistance through programs like MHDC First Place Loan.

What are closing costs in Missouri?+

Average closing costs in Missouri are approximately 1.5% of the purchase price — about $3,450 on the median $230K home. Closing costs include lender origination fees, title insurance, escrow, prepaid interest, and government recording fees.

What income do I need to afford the median home in Missouri?+

To afford the $230K median home in Missouri under the 28% housing-cost rule, you need a gross monthly income of at least $6,082 — roughly $73K/year. The median household income in Missouri is $62,000.

Data Sources & Methodology

State data sourced from the National Association of Realtors (median home prices), Tax Foundation (property tax rates, income tax), Freddie Mac PMMS (mortgage rates), ATTOM Data Solutions (closing costs), and U.S. Census Bureau ACS (household income). Last updated 2026.