The typical owner-occupied home in Sparta is worth about $181,500, 21% below the Missouri median of $230,300 and 45% below the national median of $332,700. Owners pay a median $1,265 a year in property taxes, about 0.70% of their home's value, lower than the Missouri rate of 0.85%. The median household earns $63,182 a year, so the median home costs 2.9 times the median income (3.3 times for Missouri). 68% of occupied homes here are lived in by their owners, and 75% of those owners still have a mortgage.
Sparta at a glance
| Sparta | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $181,500 | $230,300 | $332,700 |
| Median property tax paid per year | $1,265 | $1,948 | $3,119 |
| Property tax as a share of value | 0.70% | 0.85% | 0.94% |
| Median household income | $63,182 | $70,702 | $80,734 |
| Homes lived in by their owners | 68% | 68% | 65% |
| Owner homes with a mortgage | 75% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,341 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 18.6% | 19.0% | 21.0% |
| Median rent | $768 | $1,033 | $1,413 |
| Rent as a share of renters' income | 26.1% | 28.1% | 30.6% |
| Median year homes were built | 1994 | 1978 | 1980 |
| Vacant homes | 7.3% | 11.2% | 10.1% |
| Population | 2,331 | 6,191,814 | 334,922,499 |
What a typical home costs per month in Sparta
At this week's average 30-year rate of 7.11%, buying the median Sparta home of $181,500 with 20% down costs about $1,158 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,461, 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 $49,640 for the 20%-down payment. That payment is 22% of the median Sparta household income of $63,182; at that income and 20% down, the 28% guideline points to a home of about $231,000.
The median rent here is $768 a month, so owning the median home costs about $390 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $36,300 |
|---|---|
| Loan amount | $145,200 |
| Principal and interest | $977 |
| Property taxes (0.70% a year) | $106 |
| Homeowners insurance (our estimate, 0.5% a year) | $76 |
| PMI | $0 |
| Total per month | $1,158 |
Change the numbers in the calculator
| Down payment | $6,352 |
|---|---|
| Loan amount | $178,213 |
| Principal and interest | $1,199 |
| Property taxes (0.70% a year) | $106 |
| Homeowners insurance (our estimate, 0.5% a year) | $76 |
| FHA mortgage insurance | $80 |
| Total per month | $1,461 |
Change the numbers in the calculator
Questions about home buying in Sparta
What is the median home value in Sparta?
About $181,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Sparta?
Homeowners pay a median $1,265 a year, which is about 0.70% 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 Sparta?
For the median home with 20% down at 7.11%, the payment is about $1,158 a month. Keeping that under 28% of gross income takes about $49,640 a year.
More about Sparta
- Mortgage Refinance in Sparta
- Debt Relief in Sparta
- Home Equity Loans in Sparta
- 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