The typical owner-occupied home in Manhattan is worth about $246,700, 14% above the Kansas median of $217,200 and 26% below the national median of $332,700. Owners pay a median $3,767 a year in property taxes, about 1.53% of their home's value, higher than the Kansas rate of 1.29%. The median household earns $60,172 a year, so the median home costs 4.1 times the median income (2.9 times for Kansas). 43% of occupied homes here are lived in by their owners, and 60% of those owners still have a mortgage.
Manhattan at a glance
| Manhattan | Kansas | U.S. | |
|---|---|---|---|
| Median home value | $246,700 | $217,200 | $332,700 |
| Median property tax paid per year | $3,767 | $2,798 | $3,119 |
| Property tax as a share of value | 1.53% | 1.29% | 0.94% |
| Median household income | $60,172 | $74,275 | $80,734 |
| Homes lived in by their owners | 43% | 67% | 65% |
| Owner homes with a mortgage | 60% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $1,791 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 19.4% | 19.4% | 21.0% |
| Median rent | $1,003 | $1,060 | $1,413 |
| Rent as a share of renters' income | 31.1% | 27.1% | 30.6% |
| Median year homes were built | 1983 | 1976 | 1980 |
| Vacant homes | 8.8% | 9.2% | 10.1% |
| Population | 54,239 | 2,947,197 | 334,922,499 |
What a typical home costs per month in Manhattan
At this week's average 30-year rate of 7.11%, buying the median Manhattan home of $246,700 with 20% down costs about $1,745 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,156, 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 $74,785 for the 20%-down payment. That payment is 35% of the median Manhattan household income of $60,172; at that income and 20% down, the 28% guideline points to a home of about $198,000.
The median rent here is $1,003 a month, so owning the median home costs about $742 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $49,340 |
|---|---|
| Loan amount | $197,360 |
| Principal and interest | $1,328 |
| Property taxes (1.53% a year) | $315 |
| Homeowners insurance (our estimate, 0.5% a year) | $103 |
| PMI | $0 |
| Total per month | $1,745 |
Change the numbers in the calculator
| Down payment | $8,634 |
|---|---|
| Loan amount | $242,232 |
| Principal and interest | $1,630 |
| Property taxes (1.53% a year) | $315 |
| Homeowners insurance (our estimate, 0.5% a year) | $103 |
| FHA mortgage insurance | $109 |
| Total per month | $2,156 |
Change the numbers in the calculator
Questions about home buying in Manhattan
What is the median home value in Manhattan?
About $246,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Manhattan?
Homeowners pay a median $3,767 a year, which is about 1.53% 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 Manhattan?
For the median home with 20% down at 7.11%, the payment is about $1,745 a month. Keeping that under 28% of gross income takes about $74,785 a year.
More about Manhattan
- Mortgage Refinance in Manhattan
- Debt Relief in Manhattan
- Home Equity Loans in Manhattan
- 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