The typical owner-occupied home in Towanda is worth about $121,500, 44% below the Kansas median of $217,200 and 63% below the national median of $332,700. Owners pay a median $2,486 a year in property taxes, about 2.05% of their home's value, higher than the Kansas rate of 1.29%. The median household earns $64,327 a year, so the median home costs 1.9 times the median income (2.9 times for Kansas). 81% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Towanda at a glance
| Towanda | Kansas | U.S. | |
|---|---|---|---|
| Median home value | $121,500 | $217,200 | $332,700 |
| Median property tax paid per year | $2,486 | $2,798 | $3,119 |
| Property tax as a share of value | 2.05% | 1.29% | 0.94% |
| Median household income | $64,327 | $74,275 | $80,734 |
| Homes lived in by their owners | 81% | 67% | 65% |
| Owner homes with a mortgage | 52% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $1,288 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 23.1% | 19.4% | 21.0% |
| Median rent | $1,034 | $1,060 | $1,413 |
| Rent as a share of renters' income | 33.0% | 27.1% | 30.6% |
| Median year homes were built | 1987 | 1976 | 1980 |
| Vacant homes | 5.0% | 9.2% | 10.1% |
| Population | 1,668 | 2,947,197 | 334,922,499 |
What a typical home costs per month in Towanda
At this week's average 30-year rate of 7.11%, buying the median Towanda home of $121,500 with 20% down costs about $912 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,114, 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 $39,088 for the 20%-down payment. That payment is 17% of the median Towanda household income of $64,327; at that income and 20% down, the 28% guideline points to a home of about $200,000.
The median rent here is $1,034 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $24,300 |
|---|---|
| Loan amount | $97,200 |
| Principal and interest | $654 |
| Property taxes (2.05% a year) | $208 |
| Homeowners insurance (our estimate, 0.5% a year) | $51 |
| PMI | $0 |
| Total per month | $912 |
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| Down payment | $4,252 |
|---|---|
| Loan amount | $119,299 |
| Principal and interest | $803 |
| Property taxes (2.05% a year) | $208 |
| Homeowners insurance (our estimate, 0.5% a year) | $51 |
| FHA mortgage insurance | $54 |
| Total per month | $1,114 |
Change the numbers in the calculator
Questions about home buying in Towanda
What is the median home value in Towanda?
About $121,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Towanda?
Homeowners pay a median $2,486 a year, which is about 2.05% 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 Towanda?
For the median home with 20% down at 7.11%, the payment is about $912 a month. Keeping that under 28% of gross income takes about $39,088 a year.
More about Towanda
- Mortgage Refinance in Towanda
- Debt Relief in Towanda
- Home Equity Loans in Towanda
- 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