The typical owner-occupied home in Garden City is worth about $176,200, 23% below the Missouri median of $230,300 and 47% below the national median of $332,700. Owners pay a median $1,448 a year in property taxes, about 0.82% of their home's value, close to the Missouri rate of 0.85%. The median household earns $65,260 a year, so the median home costs 2.7 times the median income (3.3 times for Missouri). 63% of occupied homes here are lived in by their owners, and 74% of those owners still have a mortgage.
Garden City at a glance
| Garden City | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $176,200 | $230,300 | $332,700 |
| Median property tax paid per year | $1,448 | $1,948 | $3,119 |
| Property tax as a share of value | 0.82% | 0.85% | 0.94% |
| Median household income | $65,260 | $70,702 | $80,734 |
| Homes lived in by their owners | 63% | 68% | 65% |
| Owner homes with a mortgage | 74% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,331 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 17.9% | 19.0% | 21.0% |
| Median rent | $925 | $1,033 | $1,413 |
| Rent as a share of renters' income | 26.0% | 28.1% | 30.6% |
| Median year homes were built | 1985 | 1978 | 1980 |
| Vacant homes | 12.5% | 11.2% | 10.1% |
| Population | 1,742 | 6,191,814 | 334,922,499 |
What a typical home costs per month in Garden City
At this week's average 30-year rate of 7.11%, buying the median Garden City home of $176,200 with 20% down costs about $1,142 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,436, 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 $48,946 for the 20%-down payment. That payment is 21% of the median Garden City household income of $65,260; at that income and 20% down, the 28% guideline points to a home of about $235,000.
The median rent here is $925 a month, so owning the median home costs about $217 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $35,240 |
|---|---|
| Loan amount | $140,960 |
| Principal and interest | $948 |
| Property taxes (0.82% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $73 |
| PMI | $0 |
| Total per month | $1,142 |
Change the numbers in the calculator
| Down payment | $6,167 |
|---|---|
| Loan amount | $173,009 |
| Principal and interest | $1,164 |
| Property taxes (0.82% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $73 |
| FHA mortgage insurance | $78 |
| Total per month | $1,436 |
Change the numbers in the calculator
Questions about home buying in Garden City
What is the median home value in Garden City?
About $176,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Garden City?
Homeowners pay a median $1,448 a year, which is about 0.82% 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 Garden City?
For the median home with 20% down at 7.11%, the payment is about $1,142 a month. Keeping that under 28% of gross income takes about $48,946 a year.
More about Garden City
- Mortgage Refinance in Garden City
- Debt Relief in Garden City
- Home Equity Loans in Garden City
- 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