Total monthly cost of ownership
Cost to Own a Home in Pratt, Kansas
A $103,000 home here costs
$1,043per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $530. The real number is $513 higher every month — 97% 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.
Pratt against Pratt County and Kansas
| Measure | Pratt | Pratt County |
|---|---|---|
| Median home value | $103,300 | $114,500 |
| Median property tax | $1,968 | $2,019 |
| Effective tax rate | 1.905% | 1.763% |
| Median gross rent | $809 | $810 |
| Population | 6,559 | 9,120 |
The weather behind that power bill
Pratt sits in Pratt County, which averages a high of 91.5°F in its hottest month and a low of 19.1°F in its coldest, with 27.62" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 1,442 cooling and 4,989 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Pratt County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Pratt County
No other places of this size are published in Pratt County.
Common questions
How much does it cost to own a home in Pratt?
A $103,000 home in Pratt, Kansas costs approximately $1,043 per month with 20% down at 6.66%. That is $530 principal and interest, $164 property tax, $60 homeowners insurance, $204 utilities and $86 set aside for maintenance.
What is the property tax rate in Pratt?
Pratt has an effective property tax rate of 1.905%, based on a median home value of $103,300 and median real estate taxes of $1,968. That is higher than the Pratt County average of 1.763%.
What is the average home price in Pratt?
The median owner-occupied home value in Pratt, Kansas is $103,300, against $114,500 across Pratt County.
Is it cheaper to rent or buy in Pratt?
Median gross rent in Pratt is $809 a month, against $1,043 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 Pratt — 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.