The typical owner-occupied home in Elmo is worth about $75,000, 67% below the Missouri median of $230,300 and 77% below the national median of $332,700. Owners pay a median $550 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 $64,688 a year, so the median home costs 1.2 times the median income (3.3 times for Missouri). 63% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Elmo at a glance
| Elmo | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $75,000 | $230,300 | $332,700 |
| Median property tax paid per year | $550 | $1,948 | $3,119 |
| Property tax as a share of value | 0.73% | 0.85% | 0.94% |
| Median household income | $64,688 | $70,702 | $80,734 |
| Homes lived in by their owners | 63% | 68% | 65% |
| Owner homes with a mortgage | 52% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,069 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 9.0% | 19.0% | 21.0% |
| Median rent | $628 | $1,033 | $1,413 |
| Rent as a share of renters' income | 19.0% | 28.1% | 30.6% |
| Median year homes were built | 1942 | 1978 | 1980 |
| Vacant homes | 16.7% | 11.2% | 10.1% |
| Population | 217 | 6,191,814 | 334,922,499 |
What a typical home costs per month in Elmo
At this week's average 30-year rate of 7.11%, buying the median Elmo home of $75,000 with 20% down costs about $480 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $605, 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 $20,593 for the 20%-down payment. That payment is 9% of the median Elmo household income of $64,688; at that income and 20% down, the 28% guideline points to a home of about $236,000.
The median rent here is $628 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $15,000 |
|---|---|
| Loan amount | $60,000 |
| Principal and interest | $404 |
| Property taxes (0.73% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| PMI | $0 |
| Total per month | $480 |
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| Down payment | $2,625 |
|---|---|
| Loan amount | $73,642 |
| Principal and interest | $495 |
| Property taxes (0.73% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| FHA mortgage insurance | $33 |
| Total per month | $605 |
Change the numbers in the calculator
Questions about home buying in Elmo
What is the median home value in Elmo?
About $75,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Elmo?
Homeowners pay a median $550 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 Elmo?
For the median home with 20% down at 7.11%, the payment is about $480 a month. Keeping that under 28% of gross income takes about $20,593 a year.
More about Elmo
- Mortgage Refinance in Elmo
- Debt Relief in Elmo
- Home Equity Loans in Elmo
- 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