Estimate your monthly mortgage payment in Missouri — principal & interest plus Missouri property tax and homeowner’s insurance.
Buying a home in Missouri: what to know
Missouri keeps homeownership within reach: a $267,879 statewide typical value (Zillow ZHVI, Aug 2026), a 0.89% median effective property tax rate (Tax Foundation, 2026), and a constitutional 19% residential assessment ratio that keeps taxable values well below market. With a median home price of $267,879, 20% down means borrowing about $214,303 — within the 2026 conforming limit of $832,750 statewide. Property taxes run about 0.89% of assessed value, and insurance averages $1,668 a year statewide — both baked into the calculator above. Buyers should check out MHDC’s First Place (below-market rate + 4% forgivable assistance) and Next Step (higher limits, repeat buyers welcome) programs before shopping lenders.
Missouri mortgage facts
| Fact | Figure |
|---|---|
| 2026 conforming loan limit (1-unit) | $832,750 |
| Median home price | $267,879 |
| Median effective property tax rate | 0.89% |
| Average homeowner’s insurance | $1,668/year |
Data as of October 2026. Sources: FHFA (2026 conforming limits), Zillow ZHVI (Aug 2026), Tax Foundation (2026 (2024 ACS data)), NAIC via Insurance Information Institute (2022 (published May 2025)); rate: 7.40% (Freddie Mac PMMS, week ending October 15, 2026)
Missouri first-time buyer programs
- MHDC First Place — 30-year fixed-rate first mortgage at below-market rates for first-time buyers, plus a Cash Assistance Loan of up to 4% of the loan amount (0% interest, forgiven after 10 years of owner occupancy); 640 minimum credit score. Official site
- MHDC Next Step — Same 4% forgivable assistance structure with higher income and purchase-price limits — open to repeat buyers. Official site
How to use this calculator
Start with Missouri’s median home price (pre-filled above) or type the price of a home you’re eyeing. The calculator assumes 20% down — the threshold that avoids private mortgage insurance on conventional loans — and applies Missouri’s median property tax rate and average insurance premium so the monthly figure reflects the true cost of owning, not just principal and interest. Note the 19% assessment ratio: the calculator’s 0.89% effective rate already accounts for it, so don’t apply local levies to market value yourself. Adjust the rate to a quote you’ve received; MHDC’s below-market rates may beat what the calculator assumes.
Worked example: a median Missouri home
Take a median-priced Missouri home at $267,879. With 20% down ($53,575.80), the loan amount is $214,303.20. At 7.40% (Freddie Mac PMMS, week ending October 15, 2026) on a 30-year fixed term, principal and interest come to $1,483.79/month. Add property tax of about $198.68/month (0.89% of $267,879, divided by 12) and insurance of about $139.00/month ($1,668 a year), for a total estimated payment of $1,821.47/month. Over 30 years, total interest would be about $319,861.94. Your rate, down payment, and county tax bill will move these numbers — use the calculator above with your own figures.
What is the conforming loan limit in Missouri for 2026?
The 2026 conforming loan limit for a one-unit property is $832,750 across Missouri — no counties are designated high-cost — per the FHFA’s November 2025 announcement.
How much are property taxes in Missouri?
The median effective property tax rate in Missouri is about 0.89% of a home’s assessed value (Tax Foundation, 2026 (2024 ACS data)). On a $267,879 home, that’s roughly $2,384 a year, or $198.68 a month — already included in the calculator above. Actual bills vary by county and municipality.
Why is my Missouri assessment so much lower than my home’s value?
Missouri doesn’t tax homes at market value: the state constitution fixes assessment ratios at 19% of market value for residential property (12% agricultural, 32% commercial), and local levies apply to that assessed value. A $267,879 home is assessed at about $50,897 before levies are applied.
How does MHDC’s forgivable down payment assistance work?
MHDC’s Cash Assistance Loan (CAL) provides up to 4% of the total loan amount for down payment and closing costs as a 0%-interest second mortgage — it begins diminishing after year 5 and is fully forgiven after 10 years of owner occupancy. First Place pairs it with a below-market 30-year fixed rate for first-time buyers; Next Step offers the same structure with higher limits for repeat buyers.
Can I use MHDC assistance with a VA or USDA loan?
Yes — MHDC’s First Place and Next Step programs can be used with FHA, VA, USDA, or conventional first mortgages (minimum 640 credit score).