The typical owner-occupied home in Elk Falls is worth about $48,300, 78% below the Kansas median of $217,200 and 85% below the national median of $332,700. Owners pay a median $580 a year in property taxes, about 1.20% of their home's value, lower than the Kansas rate of 1.29%. The median household earns $52,321 a year, so the median home costs 0.9 times the median income (2.9 times for Kansas). 77% of occupied homes here are lived in by their owners, and 9% of those owners still have a mortgage.
Elk Falls at a glance
| Elk Falls | Kansas | U.S. | |
|---|---|---|---|
| Median home value | $48,300 | $217,200 | $332,700 |
| Median property tax paid per year | $580 | $2,798 | $3,119 |
| Property tax as a share of value | 1.20% | 1.29% | 0.94% |
| Median household income | $52,321 | $74,275 | $80,734 |
| Homes lived in by their owners | 77% | 67% | 65% |
| Owner homes with a mortgage | 9% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $850 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 32.5% | 19.4% | 21.0% |
| Median rent | – | $1,060 | $1,413 |
| Median year homes were built | 1954 | 1976 | 1980 |
| Vacant homes | 30.5% | 9.2% | 10.1% |
| Population | 126 | 2,947,197 | 334,922,499 |
What a typical home costs per month in Elk Falls
At this week's average 30-year rate of 7.11%, buying the median Elk Falls home of $48,300 with 20% down costs about $328 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $409, 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 $14,073 for the 20%-down payment. That payment is 8% of the median Elk Falls household income of $52,321; at that income and 20% down, the 28% guideline points to a home of about $180,000.
| Down payment | $9,660 |
|---|---|
| Loan amount | $38,640 |
| Principal and interest | $260 |
| Property taxes (1.20% a year) | $48 |
| Homeowners insurance (our estimate, 0.5% a year) | $20 |
| PMI | $0 |
| Total per month | $328 |
Change the numbers in the calculator
| Down payment | $1,690 |
|---|---|
| Loan amount | $47,425 |
| Principal and interest | $319 |
| Property taxes (1.20% a year) | $48 |
| Homeowners insurance (our estimate, 0.5% a year) | $20 |
| FHA mortgage insurance | $21 |
| Total per month | $409 |
Change the numbers in the calculator
Questions about home buying in Elk Falls
What is the median home value in Elk Falls?
About $48,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Elk Falls?
Homeowners pay a median $580 a year, which is about 1.20% 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 Elk Falls?
For the median home with 20% down at 7.11%, the payment is about $328 a month. Keeping that under 28% of gross income takes about $14,073 a year.
More about Elk Falls
- Mortgage Refinance in Elk Falls
- Debt Relief in Elk Falls
- Home Equity Loans in Elk Falls
- 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