Total monthly cost of ownership
Cost to Own a Home in Parsons, Kansas
A $70,000 home here costs
$793per 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 $34,000 a year.
A standard mortgage calculator would have told you $382. The real number is $412 higher every month, 108% more than the payment most buyers budget for.
Compare Labette 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.
Parsons against Labette County and Kansas
| Measure | Parsons | Labette County |
|---|---|---|
| Median home value | $70,300 | $92,100 |
| Median property tax | $1,315 | $1,499 |
| Effective tax rate | 1.871% | 1.628% |
| Median gross rent | $743 | $729 |
| Population | 9,482 | 19,949 |
The weather behind that power bill
Parsons sits in Labette County, which averages a high of 91.4°F in its hottest month and a low of 23.1°F in its coldest, with 37.87" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 1,690 cooling and 4,224 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Labette County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Labette County
Talk to someone who works this market
These are Parsons 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 Parsons every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Parsons I already own here and may sell
Common questions
How much does it cost to own a home in Parsons?
A $70,000 home in Parsons, Kansas costs approximately $793 per month with 20% down at 7.24%. That is $382 principal and interest, $109 property tax, $41 homeowners insurance, $204 utilities and $58 set aside for maintenance.
What is the property tax rate in Parsons?
Parsons has an effective property tax rate of 1.871%, based on a median home value of $70,300 and median real estate taxes of $1,315. That is higher than the Labette County average of 1.628%.
What is the average home price in Parsons?
The median owner-occupied home value in Parsons, Kansas is $70,300, against $92,100 across Labette County.
Is it cheaper to rent or buy in Parsons?
Median gross rent in Parsons is $743 a month, against $793 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 Parsons?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Parsons, Kansas at today's rate takes a household income of roughly $34,000 a year. That covers the full $793 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Parsons, 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.