The typical owner-occupied home in Morrisville is worth about $151,300, 34% below the Missouri median of $230,300 and 55% below the national median of $332,700. Owners pay a median $831 a year in property taxes, about 0.55% of their home's value, lower than the Missouri rate of 0.85%. The median household earns $60,625 a year, so the median home costs 2.5 times the median income (3.3 times for Missouri). 49% of occupied homes here are lived in by their owners, and 79% of those owners still have a mortgage.
Morrisville at a glance
| Morrisville | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $151,300 | $230,300 | $332,700 |
| Median property tax paid per year | $831 | $1,948 | $3,119 |
| Property tax as a share of value | 0.55% | 0.85% | 0.94% |
| Median household income | $60,625 | $70,702 | $80,734 |
| Homes lived in by their owners | 49% | 68% | 65% |
| Owner homes with a mortgage | 79% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,178 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 20.6% | 19.0% | 21.0% |
| Median rent | $843 | $1,033 | $1,413 |
| Rent as a share of renters' income | 21.5% | 28.1% | 30.6% |
| Median year homes were built | 1978 | 1978 | 1980 |
| Vacant homes | 9.1% | 11.2% | 10.1% |
| Population | 595 | 6,191,814 | 334,922,499 |
What a typical home costs per month in Morrisville
At this week's average 30-year rate of 7.11%, buying the median Morrisville home of $151,300 with 20% down costs about $947 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,199, 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 $40,570 for the 20%-down payment. That payment is 19% of the median Morrisville household income of $60,625; at that income and 20% down, the 28% guideline points to a home of about $226,000.
The median rent here is $843 a month, so owning the median home costs about $104 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $30,260 |
|---|---|
| Loan amount | $121,040 |
| Principal and interest | $814 |
| Property taxes (0.55% a year) | $69 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| PMI | $0 |
| Total per month | $947 |
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| Down payment | $5,296 |
|---|---|
| Loan amount | $148,560 |
| Principal and interest | $999 |
| Property taxes (0.55% a year) | $69 |
| Homeowners insurance (our estimate, 0.5% a year) | $63 |
| FHA mortgage insurance | $67 |
| Total per month | $1,199 |
Change the numbers in the calculator
Questions about home buying in Morrisville
What is the median home value in Morrisville?
About $151,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Morrisville?
Homeowners pay a median $831 a year, which is about 0.55% 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 Morrisville?
For the median home with 20% down at 7.11%, the payment is about $947 a month. Keeping that under 28% of gross income takes about $40,570 a year.
More about Morrisville
- Mortgage Refinance in Morrisville
- Debt Relief in Morrisville
- Home Equity Loans in Morrisville
- 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