The typical owner-occupied home in Menifee is worth about $123,600, 34% below the Arkansas median of $188,000 and 63% below the national median of $332,700. Owners pay a median $555 a year in property taxes, about 0.45% of their home's value, lower than the Arkansas rate of 0.55%. The median household earns $64,315 a year, so the median home costs 1.9 times the median income (3.1 times for Arkansas). 97% of occupied homes here are lived in by their owners, and 23% of those owners still have a mortgage.
Menifee at a glance
| Menifee | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $123,600 | $188,000 | $332,700 |
| Median property tax paid per year | $555 | $1,040 | $3,119 |
| Property tax as a share of value | 0.45% | 0.55% | 0.94% |
| Median household income | $64,315 | $60,773 | $80,734 |
| Homes lived in by their owners | 97% | 66% | 65% |
| Owner homes with a mortgage | 23% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $919 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 12.5% | 18.5% | 21.0% |
| Median rent | – | $947 | $1,413 |
| Median year homes were built | 1978 | 1987 | 1980 |
| Vacant homes | 13.6% | 13.5% | 10.1% |
| Population | 409 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Menifee
At this week's average 30-year rate of 7.11%, buying the median Menifee home of $123,600 with 20% down costs about $763 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $969, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $32,701 for the 20%-down payment. That payment is 14% of the median Menifee household income of $64,315; at that income and 20% down, the 28% guideline points to a home of about $243,000.
| Down payment | $24,720 |
|---|---|
| Loan amount | $98,880 |
| Principal and interest | $665 |
| Property taxes (0.45% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| PMI | $0 |
| Total per month | $763 |
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| Down payment | $4,326 |
|---|---|
| Loan amount | $121,361 |
| Principal and interest | $816 |
| Property taxes (0.45% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| FHA mortgage insurance | $55 |
| Total per month | $969 |
Change the numbers in the calculator
Questions about home buying in Menifee
What is the median home value in Menifee?
About $123,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Menifee?
Homeowners pay a median $555 a year, which is about 0.45% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Menifee?
For the median home with 20% down at 7.11%, the payment is about $763 a month. Keeping that under 28% of gross income takes about $32,701 a year.
More about Menifee
- Mortgage Refinance in Menifee
- Debt Relief in Menifee
- Home Equity Loans in Menifee
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data