Total monthly cost of ownership
Cost to Own a Home in Princeton, Missouri
A $69,000 home here costs
$697per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $355. The real number is $342 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.
Princeton against Mercer County and Missouri
| Measure | Princeton | Mercer County |
|---|---|---|
| Median home value | $69,200 | $95,300 |
| Median property tax | $699 | $905 |
| Effective tax rate | 1.010% | 0.950% |
| Median gross rent | $514 | $548 |
| Population | 1,434 | 3,501 |
The weather behind that power bill
Princeton sits in Mercer County, which averages a high of 85.8°F in its hottest month and a low of 14.7°F in its coldest, with 37.98" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 990 cooling and 6,012 heating degree days, which is what sets the $123 electricity line above.
See the full climate breakdown for Mercer County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mercer County
No other places of this size are published in Mercer County.
Full Mercer County cost breakdown · Every county in Missouri
Common questions
How much does it cost to own a home in Princeton?
A $69,000 home in Princeton, Missouri costs approximately $697 per month with 20% down at 6.66%. That is $355 principal and interest, $58 property tax, $36 homeowners insurance, $191 utilities and $58 set aside for maintenance.
What is the property tax rate in Princeton?
Princeton has an effective property tax rate of 1.010%, based on a median home value of $69,200 and median real estate taxes of $699. That is higher than the Mercer County average of 0.950%.
What is the average home price in Princeton?
The median owner-occupied home value in Princeton, Missouri is $69,200, against $95,300 across Mercer County.
Is it cheaper to rent or buy in Princeton?
Median gross rent in Princeton is $514 a month, against $697 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 Princeton — 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.