The typical owner-occupied home in Challis is worth about $176,400, 58% below the Idaho median of $418,600 and 47% below the national median of $332,700. Owners pay a median $585 a year in property taxes, about 0.33% of their home's value, lower than the Idaho rate of 0.49%. The median household earns $40,750 a year, so the median home costs 4.3 times the median income (5.4 times for Idaho). 59% of occupied homes here are lived in by their owners, and 55% of those owners still have a mortgage.
Challis at a glance
| Challis | Idaho | U.S. | |
|---|---|---|---|
| Median home value | $176,400 | $418,600 | $332,700 |
| Median property tax paid per year | $585 | $2,038 | $3,119 |
| Property tax as a share of value | 0.33% | 0.49% | 0.94% |
| Median household income | $40,750 | $77,800 | $80,734 |
| Homes lived in by their owners | 59% | 72% | 65% |
| Owner homes with a mortgage | 55% | 62% | 61% |
| Median monthly costs, owners with a mortgage | $896 | $1,687 | $1,963 |
| Those costs as a share of the owners' income | 25.8% | 20.7% | 21.0% |
| Median rent | $539 | $1,238 | $1,413 |
| Rent as a share of renters' income | 19.8% | 28.7% | 30.6% |
| Median year homes were built | 1979 | 1991 | 1980 |
| Vacant homes | 31.3% | 10.3% | 10.1% |
| Population | 854 | 1,934,262 | 334,922,499 |
What a typical home costs per month in Challis
At this week's average 30-year rate of 7.11%, buying the median Challis home of $176,400 with 20% down costs about $1,071 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,365, 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 $45,914 for the 20%-down payment. That payment is 32% of the median Challis household income of $40,750; at that income and 20% down, the 28% guideline points to a home of about $157,000.
The median rent here is $539 a month, so owning the median home costs about $532 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $35,280 |
|---|---|
| Loan amount | $141,120 |
| Principal and interest | $949 |
| Property taxes (0.33% a year) | $49 |
| Homeowners insurance (our estimate, 0.5% a year) | $74 |
| PMI | $0 |
| Total per month | $1,071 |
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| Down payment | $6,174 |
|---|---|
| Loan amount | $173,205 |
| Principal and interest | $1,165 |
| Property taxes (0.33% a year) | $49 |
| Homeowners insurance (our estimate, 0.5% a year) | $74 |
| FHA mortgage insurance | $78 |
| Total per month | $1,365 |
Change the numbers in the calculator
Questions about home buying in Challis
What is the median home value in Challis?
About $176,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Challis?
Homeowners pay a median $585 a year, which is about 0.33% 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 Challis?
For the median home with 20% down at 7.11%, the payment is about $1,071 a month. Keeping that under 28% of gross income takes about $45,914 a year.
More about Challis
- Mortgage Refinance in Challis
- Debt Relief in Challis
- Home Equity Loans in Challis
- 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