The typical owner-occupied home in Mendon is worth about $175,000, 24% below the Missouri median of $230,300 and 47% below the national median of $332,700. The median household earns $75,313 a year, so the median home costs 2.3 times the median income (3.3 times for Missouri). 87% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Mendon at a glance
| Mendon | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $175,000 | $230,300 | $332,700 |
| Median property tax paid per year | – | $1,948 | $3,119 |
| Median household income | $75,313 | $70,702 | $80,734 |
| Homes lived in by their owners | 87% | 68% | 65% |
| Owner homes with a mortgage | 71% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,000 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 13.3% | 19.0% | 21.0% |
| Median rent | $750 | $1,033 | $1,413 |
| Rent as a share of renters' income | 32.5% | 28.1% | 30.6% |
| Median year homes were built | 1963 | 1978 | 1980 |
| Vacant homes | 20.2% | 11.2% | 10.1% |
| Population | 194 | 6,191,814 | 334,922,499 |
What a typical home costs per month in Mendon
At this week's average 30-year rate of 7.11%, buying the median Mendon home of $175,000 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 $1,467, 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 $50,362 for the 20%-down payment. That payment is 19% of the median Mendon household income of $75,313; at that income and 20% down, the 28% guideline points to a home of about $262,000.
The median rent here is $750 a month, so owning the median home costs about $425 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $35,000 |
|---|---|
| Loan amount | $140,000 |
| Principal and interest | $942 |
| Property taxes (1.10% a year) | $160 |
| Homeowners insurance (our estimate, 0.5% a year) | $73 |
| PMI | $0 |
| Total per month | $1,175 |
Change the numbers in the calculator
| Down payment | $6,125 |
|---|---|
| Loan amount | $171,830 |
| Principal and interest | $1,156 |
| Property taxes (1.10% a year) | $160 |
| Homeowners insurance (our estimate, 0.5% a year) | $73 |
| FHA mortgage insurance | $77 |
| Total per month | $1,467 |
Change the numbers in the calculator
Questions about home buying in Mendon
What is the median home value in Mendon?
About $175,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Mendon?
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 $50,362 a year.
More about Mendon
- Mortgage Refinance in Mendon
- Debt Relief in Mendon
- Home Equity Loans in Mendon
- 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