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Columbia, MO mortgage & affordability calculator

The typical home in Columbia, MO is worth about $270,000. With 20% down that's a loan near $216,000 — the calculator is pre-filled with that figure. The University of Missouri makes Columbia a college-town outlier between Kansas City and St. Louis, with a large student and university-staff rental base shaping the housing stock. Prices run somewhat above the rest of mid-Missouri thanks to steady demand from the university and a major regional hospital system.

$1,402.41 / month

Total interest
$288,865
Total paid
$504,865
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$54k$108k$162k$216k0612182430Year

How much you need to earn

Columbia, MO's median household income is about $62,000 a year. Under standard 28/36 lending rules that supports a home price around $210,074 with 20% down — below the $270,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.

$210,140 max home price

Max loan amount
$156,140
Housing payment budget
$1,447
P&I budget
$1,014
Bound by
front-end ratio

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

Typical asking rent in Columbia, MO is about $1,150 a month, so owning the median home costs roughly $686 more per month before tax effects, maintenance, and any change in home value.

Frequently asked questions

What is a typical mortgage payment in Columbia, MO?
On the metro's roughly $270,000 typical home with 20% down, the loan is about $216,000. Principal and interest run near $1,402 a month at today's rate, and Columbia, MO's property tax plus insurance add about $433, for a full payment near $1,836.
Can I afford a home in Columbia, MO on the median income?
The median household income is about $62,000 a year. Under standard 28/36 lending rules that supports a home price around $210,074 with 20% down — below the $270,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Columbia, MO?
Typical asking rent is about $1,150 a month. The full owner payment on a median home is near $1,836, so owning costs roughly $686 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Columbia, MO?
The effective property tax rate in the core county is about 1.00% of market value — roughly $2,700 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Columbia, MO rising or falling?
Home values are up about 4% over the past year. The University of Missouri makes Columbia a college-town outlier between Kansas City and St. Louis, with a large student and university-staff rental base shaping the housing stock. Prices run somewhat above the rest of mid-Missouri thanks to steady demand from the university and a major regional hospital system.

Nearby metros

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