Home Affordability in Topeka, KS
The median home price in Topeka is $145,000 with a median household income of $45,240. Housing is relatively affordable compared to local incomes.
Median Home Price
$145,000
Median Income
$45,240
Price-to-Income Ratio
3.2x
Est. Affordable Home
$176,000
Property Tax Rate
1.50%
Annual Property Tax
$2,175
Sales Tax Rate
9.65%
Cost of Living Index
82
Buying a Home in Topeka
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $45,240 in Topeka can afford a monthly housing payment of approximately $1,056. This translates to a home price of roughly $176,000, which is at or above the median home price — the typical home is within reach for a median-income household.
Property taxes on a median-priced home in Topeka would be approximately $2,175 per year ($181/month) at the effective rate of 1.50%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $4,350 | $140,650 | Yes |
| 5% | $7,250 | $137,750 | Yes |
| 10% | $14,500 | $130,500 | Yes |
| 20% | $29,000 | $116,000 | No |
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