Home Affordability in St. Louis, MO
The median home price in St. Louis is $175,000 with a median household income of $45,782. Housing is moderately affordable relative to local incomes.
Median Home Price
$175,000
Median Income
$45,782
Price-to-Income Ratio
3.8x
Est. Affordable Home
$178,000
Property Tax Rate
1.26%
Annual Property Tax
$2,205
Sales Tax Rate
10.29%
Cost of Living Index
88
Buying a Home in St. Louis
Based on the 28% rule (spending no more than 28% of gross income on housing), a household earning the median income of $45,782 in St. Louis can afford a monthly housing payment of approximately $1,068. This translates to a home price of roughly $178,000, 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 St. Louis would be approximately $2,205 per year ($184/month) at the effective rate of 1.26%.
Down Payment Scenarios
| Down Payment | Amount | Loan Amount | PMI Required |
|---|---|---|---|
| 3% | $5,250 | $169,750 | Yes |
| 5% | $8,750 | $166,250 | Yes |
| 10% | $17,500 | $157,500 | Yes |
| 20% | $35,000 | $140,000 | No |
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