The calculator is pre-filled for a $254,400 home (the Missouri median, ranked 39th of 51) with 20% down at 7.40%. That comes to $1,709.05 a month: $1,409.13 principal and interest, $167.50 tax, $132.42 insurance. With 5% down and PMI it is $2,073.96.
Homestead exemptions and property tax relief
Missouri has no general homestead exemption. Lower-income seniors and disabled owners can claim the Homestead Preservation Credit when their tax rises sharply, and the Property Tax Credit (circuit breaker) on the state return. The state Property Tax Credit (Form MO-PTC) is worth up to $1,100 a year for homeowners 65 or older or 100% disabled who owned and occupied the home all year and meet the income limits.
First-time buyer programs
The Missouri Housing Development Commission's First Place Loan program offers a cash-assistance second loan of 4% of the mortgage amount to first-time buyers and qualified veterans, forgiven after 10 years if they stay in the home.
Transfer and recording taxes
Missouri has no state or local real estate transfer tax. A deed costs only the recorder's fee.
Closing costs to plan for
Without transfer taxes, buyer costs are lender, title and escrow charges, plus prepaids.
When property tax bills are due
Missouri property taxes are due by December 31 and become delinquent after that. Homes are assessed at 19% of market value, so a $100,000 home has a $19,000 assessed value, and the tax is that figure times the combined levy. Counties reassess real property in odd-numbered years, and the value generally carries into the next even year unless the property changes.
Before you buy in Missouri
If an odd-year reassessment raises your value, talk to the assessor first. If that doesn't resolve it, file a written appeal with the county board of equalization before the second Monday in July. A further appeal to the State Tax Commission is due by September 30 or 30 days after the board's decision, whichever is later. Because bills come once a year in December, make sure your escrow has collected a full year's tax by then. In Kansas City and St. Louis, also budget for the city earnings tax, which is separate from property tax.
2026 loan limit in Missouri
FHFA 2026 one-unit conforming limits: all 115 counties use the $832,750 baseline. A median-home loan of $203,520 is conforming.
Missouri numbers used above
| Measure | Missouri | U.S. |
|---|---|---|
| Median home value (ACS 2024) | $254,400 | $360,600 |
| Effective property tax rate | 0.79% (23rd highest) | 0.89% |
| Average HO-3 premium (NAIC 2023) | $1,589 | $1,737 |
| Median household income | $71,589 | $81,604 |
| Median gross rent | $1,067 | $1,487 |
| Income needed at 28% (20% down) | $73,245 | – |
Frequently asked questions
When are Missouri property taxes due?
By December 31 each year.
How are Missouri homes assessed?
At 19% of market value. Counties reassess in odd-numbered years.
How do I appeal a Missouri assessment?
Talk to the assessor, then file with the county board of equalization before the second Monday in July. You can then appeal to the State Tax Commission.
What is the median-home payment in Missouri?
About $1,709.05 a month on a $254,400 home with 20% down at 7.40%, including tax and insurance.
Sources
- Missouri STC, tax amount FAQ
- RSMo 137.385
- MHDC First Place manual
- RSMo 137.106 (Homestead Preservation)
- Missouri DOR, Property Tax Credit
- FHFA, 2026 conforming loan limits
- Census ACS 2024 1-year (B25077, B25103, B19013, B25064); NAIC homeowners report (2023); Freddie Mac PMMS.
See also: all states · house affordability · Missouri paycheck