Total monthly cost of ownership
Cost to Own a Home in Columbia, Missouri
A $268,000 home here costs
$2,138per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,378. The real number is $760 higher every month — 55% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Columbia against Boone County and Missouri
| Measure | Columbia | Boone County |
|---|---|---|
| Median home value | $268,300 | $254,100 |
| Median property tax | $2,478 | $2,232 |
| Effective tax rate | 0.924% | 0.878% |
| Median gross rent | $1,067 | $1,060 |
| Population | 127,200 | 185,874 |
The weather behind that power bill
Columbia 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 $123 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
Common questions
How much does it cost to own a home in Columbia?
A $268,000 home in Columbia, Missouri costs approximately $2,138 per month with 20% down at 6.66%. That is $1,378 principal and interest, $206 property tax, $140 homeowners insurance, $191 utilities and $223 set aside for maintenance.
What is the property tax rate in Columbia?
Columbia has an effective property tax rate of 0.924%, based on a median home value of $268,300 and median real estate taxes of $2,478. That is higher than the Boone County average of 0.878%.
What is the average home price in Columbia?
The median owner-occupied home value in Columbia, Missouri is $268,300, against $254,100 across Boone County.
Is it cheaper to rent or buy in Columbia?
Median gross rent in Columbia is $1,067 a month, against $2,138 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Columbia — 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.