Total monthly cost of ownership
Cost to Own a Home in Ashland, Missouri
A $232,000 home here costs
$1,997per month, all in, with 20% down at today's 7.32% 30-year fixed rate. By the 28% rule that takes a household income of about $85,500 a year.
A standard mortgage calculator would have told you $1,275. The real number is $722 higher every month, 57% more than the payment most buyers budget for.
Compare Boone County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Ashland from a five-year rolling sample, and with about 4,811 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Boone County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Ashland against Boone County and Missouri
| Measure | Ashland | Boone County |
|---|---|---|
| Median home value | $231,700 | $254,100 |
| Median property tax | $2,148 | $2,232 |
| Effective tax rate | 0.927% | 0.878% |
| Median gross rent | $1,188 | $1,060 |
| Population | 4,811 | 185,874 |
The weather behind that power bill
Ashland sits in Boone County, which averages a high of 88.6°F in its hottest month and a low of 22.5°F in its coldest, with 44.82" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,487 cooling and 4,668 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Boone County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Boone County
Talk to someone who works this market
These are Ashland averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Ashland every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Ashland I already own here and may sell
Common questions
How much does it cost to own a home in Ashland?
A $232,000 home in Ashland, Missouri costs approximately $1,997 per month with 20% down at 7.32%. That is $1,275 principal and interest, $179 property tax, $121 homeowners insurance, $228 utilities and $193 set aside for maintenance.
What is the property tax rate in Ashland?
Ashland has an effective property tax rate of 0.927%, based on a median home value of $231,700 and median real estate taxes of $2,148. That is higher than the Boone County average of 0.878%.
What is the average home price in Ashland?
The median owner-occupied home value in Ashland, Missouri is $231,700, against $254,100 across Boone County.
Is it cheaper to rent or buy in Ashland?
Median gross rent in Ashland is $1,188 a month, against $1,997 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Ashland?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ashland, Missouri at today's rate takes a household income of roughly $85,500 a year. That covers the full $1,997 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ashland, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Missouri.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.