Total monthly cost of ownership
Cost to Own a Home in Lakin, Kansas
A $142,000 home here costs
$1,329per 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 $57,000 a year.
A standard mortgage calculator would have told you $774. The real number is $555 higher every month, 72% more than the payment most buyers budget for.
Compare Kearny County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lakin from a five-year rolling sample, and with about 2,069 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 Kearny 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.
Lakin against Kearny County and Kansas
| Measure | Lakin | Kearny County |
|---|---|---|
| Median home value | $141,700 | $152,500 |
| Median property tax | $1,799 | $1,867 |
| Effective tax rate | 1.270% | 1.224% |
| Median gross rent | $1,123 | $1,137 |
| Population | 2,069 | 3,910 |
The weather behind that power bill
Lakin sits in Kearny County, which averages a high of 94.3°F in its hottest month and a low of 19.8°F in its coldest, with 18.81" of precipitation a year and 48% of it in a single three-month stretch. That climate drives 1,520 cooling and 4,870 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Kearny County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kearny County
No other places of this size are published in Kearny County.
Talk to someone who works this market
These are Lakin 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 Lakin every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Lakin?
A $142,000 home in Lakin, Kansas costs approximately $1,329 per month with 20% down at 7.24%. That is $774 principal and interest, $150 property tax, $83 homeowners insurance, $204 utilities and $118 set aside for maintenance.
What is the property tax rate in Lakin?
Lakin has an effective property tax rate of 1.270%, based on a median home value of $141,700 and median real estate taxes of $1,799. That is higher than the Kearny County average of 1.224%.
What is the average home price in Lakin?
The median owner-occupied home value in Lakin, Kansas is $141,700, against $152,500 across Kearny County.
Is it cheaper to rent or buy in Lakin?
Median gross rent in Lakin is $1,123 a month, against $1,329 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 Lakin?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lakin, Kansas at today's rate takes a household income of roughly $57,000 a year. That covers the full $1,329 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lakin, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Kansas.
- 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.