Total monthly cost of ownership
Cost to Own a Home in McPherson, Kansas
A $204,000 home here costs
$1,785per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,049. The real number is $737 higher every month — 70% 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.
McPherson against McPherson County and Kansas
| Measure | McPherson | McPherson County |
|---|---|---|
| Median home value | $204,300 | $198,400 |
| Median property tax | $2,928 | $2,780 |
| Effective tax rate | 1.433% | 1.401% |
| Median gross rent | $898 | $889 |
| Population | 13,956 | 30,130 |
The weather behind that power bill
McPherson sits in McPherson County, which averages a high of 92.8°F in its hottest month and a low of 19.0°F in its coldest, with 33.58" of precipitation a year and 43% of it in a single three-month stretch. That climate drives 1,592 cooling and 4,957 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for McPherson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in McPherson County
Full McPherson County cost breakdown · Every county in Kansas
Common questions
How much does it cost to own a home in McPherson?
A $204,000 home in McPherson, Kansas costs approximately $1,785 per month with 20% down at 6.66%. That is $1,049 principal and interest, $244 property tax, $119 homeowners insurance, $204 utilities and $170 set aside for maintenance.
What is the property tax rate in McPherson?
McPherson has an effective property tax rate of 1.433%, based on a median home value of $204,300 and median real estate taxes of $2,928. That is higher than the McPherson County average of 1.401%.
What is the average home price in McPherson?
The median owner-occupied home value in McPherson, Kansas is $204,300, against $198,400 across McPherson County.
Is it cheaper to rent or buy in McPherson?
Median gross rent in McPherson is $898 a month, against $1,785 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 McPherson — 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.