The typical owner-occupied home in Forest City is worth about $46,700, 80% below the Missouri median of $230,300 and 86% below the national median of $332,700. Owners pay a median $525 a year in property taxes, about 1.12% of their home's value, higher than the Missouri rate of 0.85%. The median household earns $46,875 a year, so the median home costs 1.0 times the median income (3.3 times for Missouri). 58% of occupied homes here are lived in by their owners, and 31% of those owners still have a mortgage.
Forest City at a glance
| Forest City | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $46,700 | $230,300 | $332,700 |
| Median property tax paid per year | $525 | $1,948 | $3,119 |
| Property tax as a share of value | 1.12% | 0.85% | 0.94% |
| Median household income | $46,875 | $70,702 | $80,734 |
| Homes lived in by their owners | 58% | 68% | 65% |
| Owner homes with a mortgage | 31% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,083 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 37.5% | 19.0% | 21.0% |
| Median rent | $393 | $1,033 | $1,413 |
| Rent as a share of renters' income | 17.5% | 28.1% | 30.6% |
| Median year homes were built | 1956 | 1978 | 1980 |
| Vacant homes | 30.5% | 11.2% | 10.1% |
| Population | 193 | 6,191,814 | 334,922,499 |
What a typical home costs per month in Forest City
At this week's average 30-year rate of 7.11%, buying the median Forest City home of $46,700 with 20% down costs about $314 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $392, 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 $13,473 for the 20%-down payment. That payment is 8% of the median Forest City household income of $46,875; at that income and 20% down, the 28% guideline points to a home of about $162,000.
The median rent here is $393 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $9,340 |
|---|---|
| Loan amount | $37,360 |
| Principal and interest | $251 |
| Property taxes (1.12% a year) | $44 |
| Homeowners insurance (our estimate, 0.5% a year) | $19 |
| PMI | $0 |
| Total per month | $314 |
Change the numbers in the calculator
| Down payment | $1,634 |
|---|---|
| Loan amount | $45,854 |
| Principal and interest | $308 |
| Property taxes (1.12% a year) | $44 |
| Homeowners insurance (our estimate, 0.5% a year) | $19 |
| FHA mortgage insurance | $21 |
| Total per month | $392 |
Change the numbers in the calculator
Questions about home buying in Forest City
What is the median home value in Forest City?
About $46,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Forest City?
Homeowners pay a median $525 a year, which is about 1.12% 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 Forest City?
For the median home with 20% down at 7.11%, the payment is about $314 a month. Keeping that under 28% of gross income takes about $13,473 a year.
More about Forest City
- Mortgage Refinance in Forest City
- Debt Relief in Forest City
- Home Equity Loans in Forest 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