The typical owner-occupied home in Saint Louis is worth about $119,200, 49% below the Michigan median of $231,600 and 64% below the national median of $332,700. Owners pay a median $1,642 a year in property taxes, about 1.38% of their home's value, higher than the Michigan rate of 1.25%. The median household earns $51,167 a year, so the median home costs 2.3 times the median income (3.2 times for Michigan). 67% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Saint Louis at a glance
| Saint Louis | Michigan | U.S. | |
|---|---|---|---|
| Median home value | $119,200 | $231,600 | $332,700 |
| Median property tax paid per year | $1,642 | $2,904 | $3,119 |
| Property tax as a share of value | 1.38% | 1.25% | 0.94% |
| Median household income | $51,167 | $72,875 | $80,734 |
| Homes lived in by their owners | 67% | 73% | 65% |
| Owner homes with a mortgage | 52% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,123 | $1,569 | $1,963 |
| Those costs as a share of the owners' income | 17.0% | 19.3% | 21.0% |
| Median rent | $794 | $1,129 | $1,413 |
| Rent as a share of renters' income | 32.1% | 30.2% | 30.6% |
| Median year homes were built | 1966 | 1972 | 1980 |
| Vacant homes | 13.4% | 11.8% | 10.1% |
| Population | 7,367 | 10,077,761 | 334,922,499 |
What a typical home costs per month in Saint Louis
At this week's average 30-year rate of 7.11%, buying the median Saint Louis home of $119,200 with 20% down costs about $828 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,027, 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 $35,496 for the 20%-down payment. That payment is 19% of the median Saint Louis household income of $51,167; at that income and 20% down, the 28% guideline points to a home of about $172,000.
The median rent here is $794 a month, so owning the median home costs about $34 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $23,840 |
|---|---|
| Loan amount | $95,360 |
| Principal and interest | $641 |
| Property taxes (1.38% a year) | $137 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| PMI | $0 |
| Total per month | $828 |
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| Down payment | $4,172 |
|---|---|
| Loan amount | $117,041 |
| Principal and interest | $787 |
| Property taxes (1.38% a year) | $137 |
| Homeowners insurance (our estimate, 0.5% a year) | $50 |
| FHA mortgage insurance | $53 |
| Total per month | $1,027 |
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Questions about home buying in Saint Louis
What is the median home value in Saint Louis?
About $119,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Saint Louis?
Homeowners pay a median $1,642 a year, which is about 1.38% 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 Saint Louis?
For the median home with 20% down at 7.11%, the payment is about $828 a month. Keeping that under 28% of gross income takes about $35,496 a year.
More about Saint Louis
- Mortgage Refinance in Saint Louis
- Debt Relief in Saint Louis
- Home Equity Loans in Saint Louis
- 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