Total monthly cost of ownership
Cost to Own a Home in New Madrid, Missouri
A $121,000 home here costs
$1,049per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $622. The real number is $427 higher every month — 69% 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.
New Madrid against New Madrid County and Missouri
| Measure | New Madrid | New Madrid County |
|---|---|---|
| Median home value | $120,700 | $105,500 |
| Median property tax | $867 | $746 |
| Effective tax rate | 0.718% | 0.707% |
| Median gross rent | $692 | $734 |
| Population | 2,720 | 16,041 |
The weather behind that power bill
New Madrid sits in New Madrid County, which averages a high of 90.3°F in its hottest month and a low of 27.5°F in its coldest, with 49.29" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,755 cooling and 3,949 heating degree days, which is what sets the $123 electricity line above.
See the full climate breakdown for New Madrid County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in New Madrid County
Full New Madrid County cost breakdown · Every county in Missouri
Common questions
How much does it cost to own a home in New Madrid?
A $121,000 home in New Madrid, Missouri costs approximately $1,049 per month with 20% down at 6.66%. That is $622 principal and interest, $72 property tax, $63 homeowners insurance, $191 utilities and $101 set aside for maintenance.
What is the property tax rate in New Madrid?
New Madrid has an effective property tax rate of 0.718%, based on a median home value of $120,700 and median real estate taxes of $867. That is higher than the New Madrid County average of 0.707%.
What is the average home price in New Madrid?
The median owner-occupied home value in New Madrid, Missouri is $120,700, against $105,500 across New Madrid County.
Is it cheaper to rent or buy in New Madrid?
Median gross rent in New Madrid is $692 a month, against $1,049 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 New Madrid — 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.