Total monthly cost of ownership
Cost to Own a Home in Wakefield, Kansas
A $167,000 home here costs
$1,468per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $859. The real number is $610 higher every month — 71% 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.
Wakefield against Clay County and Kansas
| Measure | Wakefield | Clay County |
|---|---|---|
| Median home value | $166,800 | $149,600 |
| Median property tax | $2,028 | $2,061 |
| Effective tax rate | 1.216% | 1.378% |
| Median gross rent | $837 | $911 |
| Population | 1,031 | 8,071 |
The weather behind that power bill
Wakefield sits in Clay County, which averages a high of 91.1°F in its hottest month and a low of 17.8°F in its coldest, with 31.85" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 1,467 cooling and 5,317 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Clay County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Clay County
Common questions
How much does it cost to own a home in Wakefield?
A $167,000 home in Wakefield, Kansas costs approximately $1,468 per month with 20% down at 6.66%. That is $859 principal and interest, $169 property tax, $97 homeowners insurance, $204 utilities and $139 set aside for maintenance.
What is the property tax rate in Wakefield?
Wakefield has an effective property tax rate of 1.216%, based on a median home value of $166,800 and median real estate taxes of $2,028. That is lower than the Clay County average of 1.378%.
What is the average home price in Wakefield?
The median owner-occupied home value in Wakefield, Kansas is $166,800, against $149,600 across Clay County.
Is it cheaper to rent or buy in Wakefield?
Median gross rent in Wakefield is $837 a month, against $1,468 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 Wakefield — 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.