Total monthly cost of ownership
Cost to Own a Home in O'Fallon, Missouri
A $305,000 home here costs
$2,623per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $112,500 a year.
A standard mortgage calculator would have told you $1,689. The real number is $934 higher every month, 55% more than the payment most buyers budget for.
Compare St. Charles County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
O'Fallon against St. Charles County and Missouri
| Measure | O'Fallon | St. Charles County |
|---|---|---|
| Median home value | $305,100 | $296,800 |
| Median property tax | $3,501 | $3,340 |
| Effective tax rate | 1.147% | 1.125% |
| Median gross rent | $1,400 | $1,312 |
| Population | 92,697 | 409,830 |
The weather behind that power bill
O'Fallon sits in St. Charles County, which averages a high of 89.5°F in its hottest month and a low of 22.0°F in its coldest, with 39.75" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,448 cooling and 4,650 heating degree days, which is what sets the $161 electricity line above.
See the full climate breakdown for St. Charles County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in St. Charles County
Full St. Charles County cost breakdown · Every county in Missouri
Talk to someone who works this market
These are O'Fallon 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 O'Fallon every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in O'Fallon I already own here and may sell
Common questions
How much does it cost to own a home in O'Fallon?
A $305,000 home in O'Fallon, Missouri costs approximately $2,623 per month with 20% down at 7.4%. That is $1,689 principal and interest, $292 property tax, $159 homeowners insurance, $229 utilities and $254 set aside for maintenance.
What is the property tax rate in O'Fallon?
O'Fallon has an effective property tax rate of 1.147%, based on a median home value of $305,100 and median real estate taxes of $3,501. That is higher than the St. Charles County average of 1.125%.
What is the average home price in O'Fallon?
The median owner-occupied home value in O'Fallon, Missouri is $305,100, against $296,800 across St. Charles County.
Is it cheaper to rent or buy in O'Fallon?
Median gross rent in O'Fallon is $1,400 a month, against $2,623 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 O'Fallon?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in O'Fallon, Missouri at today's rate takes a household income of roughly $112,500 a year. That covers the full $2,623 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for O'Fallon, 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.