Total monthly cost of ownership
Cost to Own a Home in Bolivar, Missouri
A $189,000 home here costs
$1,600per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $68,500 a year.
A standard mortgage calculator would have told you $1,030. The real number is $570 higher every month, 55% more than the payment most buyers budget for.
Compare Polk County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Bolivar against Polk County and Missouri
| Measure | Bolivar | Polk County |
|---|---|---|
| Median home value | $188,700 | $189,600 |
| Median property tax | $1,024 | $1,101 |
| Effective tax rate | 0.543% | 0.581% |
| Median gross rent | $833 | $792 |
| Population | 10,996 | 32,109 |
The weather behind that power bill
Bolivar sits in Polk County, which averages a high of 89.1°F in its hottest month and a low of 21.7°F in its coldest, with 46.38" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,366 cooling and 4,630 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Polk County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Polk County
Talk to someone who works this market
These are Bolivar 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 Bolivar every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in Bolivar?
A $189,000 home in Bolivar, Missouri costs approximately $1,600 per month with 20% down at 7.24%. That is $1,030 principal and interest, $86 property tax, $98 homeowners insurance, $228 utilities and $158 set aside for maintenance.
What is the property tax rate in Bolivar?
Bolivar has an effective property tax rate of 0.543%, based on a median home value of $188,700 and median real estate taxes of $1,024. That is lower than the Polk County average of 0.581%.
What is the average home price in Bolivar?
The median owner-occupied home value in Bolivar, Missouri is $188,700, against $189,600 across Polk County.
Is it cheaper to rent or buy in Bolivar?
Median gross rent in Bolivar is $833 a month, against $1,600 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 Bolivar?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Bolivar, Missouri at today's rate takes a household income of roughly $68,500 a year. That covers the full $1,600 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bolivar, 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.