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Cape Girardeau, MO mortgage & affordability calculator

The typical home in Cape Girardeau, MO is worth about $220,000. With 20% down that's a loan near $176,000 — the calculator is pre-filled with that figure. Cape Girardeau serves as the commercial hub for a wide stretch of southeast Missouri and southern Illinois along the Mississippi River, with Southeast Missouri State University and a regional hospital system among the largest employers. Prices remain well below St. Louis, though Midwest severe-storm exposure keeps insurance costs elevated.

$1,142.70 / month

Total interest
$235,375
Total paid
$411,375
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$44k$88k$132k$176k0612182430Year

How much you need to earn

Cape Girardeau, MO's median household income is about $55,000 a year. Under standard 28/36 lending rules that supports a home price around $184,287 with 20% down — below the $220,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$184,196 max home price

Max loan amount
$140,196
Housing payment budget
$1,283
P&I budget
$910
Bound by
front-end ratio

Uses the 28% front-end / 36% back-end DTI guidelines. Lenders vary.

Typical asking rent in Cape Girardeau, MO is about $950 a month, so owning the median home costs roughly $565 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Cape Girardeau, MO?
On the metro's roughly $220,000 typical home with 20% down, the loan is about $176,000. Principal and interest run near $1,143 a month at today's rate, and Cape Girardeau, MO's property tax plus insurance add about $373, for a full payment near $1,515.
Can I afford a home in Cape Girardeau, MO on the median income?
The median household income is about $55,000 a year. Under standard 28/36 lending rules that supports a home price around $184,287 with 20% down — below the $220,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Cape Girardeau, MO?
Typical asking rent is about $950 a month. The full owner payment on a median home is near $1,515, so owning costs roughly $565 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Cape Girardeau, MO?
The effective property tax rate in the core county is about 0.85% of market value — roughly $1,870 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Cape Girardeau, MO rising or falling?
Home values are up about 3% over the past year. Cape Girardeau serves as the commercial hub for a wide stretch of southeast Missouri and southern Illinois along the Mississippi River, with Southeast Missouri State University and a regional hospital system among the largest employers. Prices remain well below St. Louis, though Midwest severe-storm exposure keeps insurance costs elevated.

Nearby metros

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