Total monthly cost of ownership
Cost to Own a Home in Gallatin, Missouri
A $126,000 home here costs
$1,073per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $648. The real number is $425 higher every month — 66% 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.
Gallatin against Daviess County and Missouri
| Measure | Gallatin | Daviess County |
|---|---|---|
| Median home value | $126,400 | $149,200 |
| Median property tax | $762 | $1,057 |
| Effective tax rate | 0.603% | 0.708% |
| Median gross rent | $761 | $731 |
| Population | 1,722 | 8,449 |
The weather behind that power bill
Gallatin sits in Daviess County, which averages a high of 85.8°F in its hottest month and a low of 15.7°F in its coldest, with 40.83" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 1,031 cooling and 5,883 heating degree days, which is what sets the $123 electricity line above.
See the full climate breakdown for Daviess County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Daviess County
No other places of this size are published in Daviess County.
Full Daviess County cost breakdown · Every county in Missouri
Common questions
How much does it cost to own a home in Gallatin?
A $126,000 home in Gallatin, Missouri costs approximately $1,073 per month with 20% down at 6.66%. That is $648 principal and interest, $63 property tax, $66 homeowners insurance, $191 utilities and $105 set aside for maintenance.
What is the property tax rate in Gallatin?
Gallatin has an effective property tax rate of 0.603%, based on a median home value of $126,400 and median real estate taxes of $762. That is lower than the Daviess County average of 0.708%.
What is the average home price in Gallatin?
The median owner-occupied home value in Gallatin, Missouri is $126,400, against $149,200 across Daviess County.
Is it cheaper to rent or buy in Gallatin?
Median gross rent in Gallatin is $761 a month, against $1,073 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 Gallatin — 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.