The typical owner-occupied home in Morehouse is worth about $56,000, 76% below the Missouri median of $230,300 and 83% below the national median of $332,700. Owners pay a median $523 a year in property taxes, about 0.93% of their home's value, higher than the Missouri rate of 0.85%. The median household earns $32,254 a year, so the median home costs 1.7 times the median income (3.3 times for Missouri). 56% of occupied homes here are lived in by their owners, and 39% of those owners still have a mortgage.
Morehouse at a glance
| Morehouse | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $56,000 | $230,300 | $332,700 |
| Median property tax paid per year | $523 | $1,948 | $3,119 |
| Property tax as a share of value | 0.93% | 0.85% | 0.94% |
| Median household income | $32,254 | $70,702 | $80,734 |
| Homes lived in by their owners | 56% | 68% | 65% |
| Owner homes with a mortgage | 39% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $771 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 20.4% | 19.0% | 21.0% |
| Median rent | $475 | $1,033 | $1,413 |
| Rent as a share of renters' income | 26.1% | 28.1% | 30.6% |
| Median year homes were built | 1975 | 1978 | 1980 |
| Vacant homes | 13.8% | 11.2% | 10.1% |
| Population | 715 | 6,191,814 | 334,922,499 |
What a typical home costs per month in Morehouse
At this week's average 30-year rate of 7.11%, buying the median Morehouse home of $56,000 with 20% down costs about $368 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $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 $15,776 for the 20%-down payment. That payment is 14% of the median Morehouse household income of $32,254; at that income and 20% down, the 28% guideline points to a home of about $114,000.
The median rent here is $475 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $11,200 |
|---|---|
| Loan amount | $44,800 |
| Principal and interest | $301 |
| Property taxes (0.93% a year) | $43 |
| Homeowners insurance (our estimate, 0.5% a year) | $23 |
| PMI | $0 |
| Total per month | $368 |
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| Down payment | $1,960 |
|---|---|
| Loan amount | $54,986 |
| Principal and interest | $370 |
| Property taxes (0.93% a year) | $43 |
| Homeowners insurance (our estimate, 0.5% a year) | $23 |
| FHA mortgage insurance | $25 |
| Total per month | $461 |
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Questions about home buying in Morehouse
What is the median home value in Morehouse?
About $56,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Morehouse?
Homeowners pay a median $523 a year, which is about 0.93% 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 Morehouse?
For the median home with 20% down at 7.11%, the payment is about $368 a month. Keeping that under 28% of gross income takes about $15,776 a year.
More about Morehouse
- Mortgage Refinance in Morehouse
- Debt Relief in Morehouse
- Home Equity Loans in Morehouse
- 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