The typical owner-occupied home in Cheney is worth about $167,900, 23% below the Kansas median of $217,200 and 50% below the national median of $332,700. Owners pay a median $2,411 a year in property taxes, about 1.44% of their home's value, higher than the Kansas rate of 1.29%. The median household earns $85,313 a year, so the median home costs 2.0 times the median income (2.9 times for Kansas). 78% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Cheney at a glance
| Cheney | Kansas | U.S. | |
|---|---|---|---|
| Median home value | $167,900 | $217,200 | $332,700 |
| Median property tax paid per year | $2,411 | $2,798 | $3,119 |
| Property tax as a share of value | 1.44% | 1.29% | 0.94% |
| Median household income | $85,313 | $74,275 | $80,734 |
| Homes lived in by their owners | 78% | 67% | 65% |
| Owner homes with a mortgage | 58% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $1,702 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 18.2% | 19.4% | 21.0% |
| Median rent | $1,051 | $1,060 | $1,413 |
| Rent as a share of renters' income | 23.1% | 27.1% | 30.6% |
| Median year homes were built | 1977 | 1976 | 1980 |
| Vacant homes | 6.4% | 9.2% | 10.1% |
| Population | 2,580 | 2,947,197 | 334,922,499 |
What a typical home costs per month in Cheney
At this week's average 30-year rate of 7.11%, buying the median Cheney home of $167,900 with 20% down costs about $1,175 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,455, 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 $50,358 for the 20%-down payment. That payment is 17% of the median Cheney household income of $85,313; at that income and 20% down, the 28% guideline points to a home of about $284,000.
The median rent here is $1,051 a month, so owning the median home costs about $124 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $33,580 |
|---|---|
| Loan amount | $134,320 |
| Principal and interest | $904 |
| Property taxes (1.44% a year) | $201 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| PMI | $0 |
| Total per month | $1,175 |
Change the numbers in the calculator
| Down payment | $5,876 |
|---|---|
| Loan amount | $164,859 |
| Principal and interest | $1,109 |
| Property taxes (1.44% a year) | $201 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| FHA mortgage insurance | $74 |
| Total per month | $1,455 |
Change the numbers in the calculator
Questions about home buying in Cheney
What is the median home value in Cheney?
About $167,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Cheney?
Homeowners pay a median $2,411 a year, which is about 1.44% 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 Cheney?
For the median home with 20% down at 7.11%, the payment is about $1,175 a month. Keeping that under 28% of gross income takes about $50,358 a year.
More about Cheney
- Mortgage Refinance in Cheney
- Debt Relief in Cheney
- Home Equity Loans in Cheney
- 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