Mortgage Calculator — Missouri
Pre-filled with Missouri's average home price of $225000, property tax rate of 1.05%, and average insurance of $2000/year. Adjust any value below.
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Missouri Housing Market
Missouri offers highly affordable housing across most markets. Kansas City and St. Louis provide urban amenities at a fraction of coastal city costs, consistently ranking among the most affordable major metros in the country.
Affordability in Missouri
With median home prices near $225,000, Missouri is one of the most accessible states for first-time buyers. A household earning $60,000 can typically qualify for a median-priced Missouri home with a standard 30-year mortgage.
Key Markets
First-Time Buyer Programs in Missouri
First Place Loan Program
Fixed-rate first mortgage for first-time buyers and veterans, with income and price limits.
Cash Assistance Loan
Down payment and closing cost help of a percentage of the loan amount, as a forgivable or deferred second loan.
Programs are run by the Missouri Housing Development Commission (MHDC). Income limits, price limits and assistance amounts change often — confirm current terms with the agency or an approved lender.
Property Tax in Missouri
Homes are assessed at 19% of market value, and counties reassess in odd-numbered years. St. Louis and Kansas City levies run higher than rural counties. At Missouri's average effective rate of 1.05%, a $225,000 home pays roughly $2,360/year (about $197/month).
Missouri Conforming Loan Limit
In 2026, the conforming loan limit is $832,750 in most counties. Designated high-cost areas can go up to $1,249,125. Loans above the limit are jumbo loans and usually need a larger down payment.
Closing Costs in Missouri
Missouri is one of the few states with no real estate transfer tax, so closing costs are mostly lender, title and escrow fees. Buyers commonly pay about 2%–3% of the price.
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