The typical owner-occupied home in New Madrid County is worth about $111,800, 51% below the Missouri median of $230,300 and 66% below the national median of $332,700. Owners pay a median $814 a year in property taxes, about 0.73% of their home's value, lower than the Missouri rate of 0.85%. The median household earns $51,881 a year, so the median home costs 2.2 times the median income (3.3 times for Missouri). 64% of occupied homes here are lived in by their owners, and 43% of those owners still have a mortgage.
New Madrid County at a glance
| New Madrid County | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $111,800 | $230,300 | $332,700 |
| Median property tax paid per year | $814 | $1,948 | $3,119 |
| Property tax as a share of value | 0.73% | 0.85% | 0.94% |
| Median household income | $51,881 | $70,702 | $80,734 |
| Homes lived in by their owners | 64% | 68% | 65% |
| Owner homes with a mortgage | 43% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,144 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 17.2% | 19.0% | 21.0% |
| Median rent | $729 | $1,033 | $1,413 |
| Rent as a share of renters' income | 27.6% | 28.1% | 30.6% |
| Median year homes were built | 1975 | 1978 | 1980 |
| Vacant homes | 15.0% | 11.2% | 10.1% |
| Population | 15,731 | 6,191,814 | 334,922,499 |
What a typical home costs per month in New Madrid County
At this week's average 30-year rate of 7.11%, buying the median New Madrid County home of $111,800 with 20% down costs about $716 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $903, 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 $30,697 for the 20%-down payment. That payment is 17% of the median New Madrid County household income of $51,881; at that income and 20% down, the 28% guideline points to a home of about $189,000.
The median rent here is $729 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $22,360 |
|---|---|
| Loan amount | $89,440 |
| Principal and interest | $602 |
| Property taxes (0.73% a year) | $68 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| PMI | $0 |
| Total per month | $716 |
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| Down payment | $3,913 |
|---|---|
| Loan amount | $109,775 |
| Principal and interest | $738 |
| Property taxes (0.73% a year) | $68 |
| Homeowners insurance (our estimate, 0.5% a year) | $47 |
| FHA mortgage insurance | $49 |
| Total per month | $903 |
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Questions about home buying in New Madrid County
What is the median home value in New Madrid County?
About $111,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in New Madrid County?
Homeowners pay a median $814 a year, which is about 0.73% 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 New Madrid County?
For the median home with 20% down at 7.11%, the payment is about $716 a month. Keeping that under 28% of gross income takes about $30,697 a year.
More about New Madrid County
- Mortgage Refinance in New Madrid County
- Debt Relief in New Madrid County
- Home Equity Loans in New Madrid County
- 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