Total monthly cost of ownership
Cost to Own a Home in Montgomery City, Missouri
A $138,000 home here costs
$1,271per 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 $54,500 a year.
A standard mortgage calculator would have told you $752. The real number is $518 higher every month, 69% more than the payment most buyers budget for.
Compare Montgomery County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Montgomery City from a five-year rolling sample, and with about 2,810 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 Montgomery 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.
Montgomery City against Montgomery County and Missouri
| Measure | Montgomery City | Montgomery County |
|---|---|---|
| Median home value | $137,500 | $171,300 |
| Median property tax | $1,234 | $1,282 |
| Effective tax rate | 0.897% | 0.748% |
| Median gross rent | $723 | $767 |
| Population | 2,810 | 11,422 |
The weather behind that power bill
Montgomery City sits in Montgomery County, which averages a high of 87.8°F in its hottest month and a low of 19.6°F in its coldest, with 41.47" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,253 cooling and 5,041 heating degree days, which is what sets the $160 electricity line above.
See the full climate breakdown for Montgomery County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Montgomery County
Full Montgomery County cost breakdown · Every county in Missouri
Talk to someone who works this market
These are Montgomery City 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 Montgomery City every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Montgomery City I already own here and may sell
Common questions
How much does it cost to own a home in Montgomery City?
A $138,000 home in Montgomery City, Missouri costs approximately $1,271 per month with 20% down at 7.24%. That is $752 principal and interest, $103 property tax, $72 homeowners insurance, $228 utilities and $115 set aside for maintenance.
What is the property tax rate in Montgomery City?
Montgomery City has an effective property tax rate of 0.897%, based on a median home value of $137,500 and median real estate taxes of $1,234. That is higher than the Montgomery County average of 0.748%.
What is the average home price in Montgomery City?
The median owner-occupied home value in Montgomery City, Missouri is $137,500, against $171,300 across Montgomery County.
Is it cheaper to rent or buy in Montgomery City?
Median gross rent in Montgomery City is $723 a month, against $1,271 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 Montgomery City?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Montgomery City, Missouri at today's rate takes a household income of roughly $54,500 a year. That covers the full $1,271 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Montgomery City, 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.