The typical owner-occupied home in Ray County is worth about $198,800, 14% below the Missouri median of $230,300 and 40% below the national median of $332,700. Owners pay a median $1,594 a year in property taxes, about 0.80% of their home's value, lower than the Missouri rate of 0.85%. The median household earns $74,573 a year, so the median home costs 2.7 times the median income (3.3 times for Missouri). 77% of occupied homes here are lived in by their owners, and 58% of those owners still have a mortgage.
Ray County at a glance
| Ray County | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $198,800 | $230,300 | $332,700 |
| Median property tax paid per year | $1,594 | $1,948 | $3,119 |
| Property tax as a share of value | 0.80% | 0.85% | 0.94% |
| Median household income | $74,573 | $70,702 | $80,734 |
| Homes lived in by their owners | 77% | 68% | 65% |
| Owner homes with a mortgage | 58% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,404 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 17.9% | 19.0% | 21.0% |
| Median rent | $782 | $1,033 | $1,413 |
| Rent as a share of renters' income | 25.8% | 28.1% | 30.6% |
| Median year homes were built | 1974 | 1978 | 1980 |
| Vacant homes | 8.2% | 11.2% | 10.1% |
| Population | 23,145 | 6,191,814 | 334,922,499 |
What a typical home costs per month in Ray County
At this week's average 30-year rate of 7.11%, buying the median Ray County home of $198,800 with 20% down costs about $1,285 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,616, 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 $55,082 for the 20%-down payment. That payment is 21% of the median Ray County household income of $74,573; at that income and 20% down, the 28% guideline points to a home of about $269,000.
The median rent here is $782 a month, so owning the median home costs about $503 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $39,760 |
|---|---|
| Loan amount | $159,040 |
| Principal and interest | $1,070 |
| Property taxes (0.80% a year) | $133 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| PMI | $0 |
| Total per month | $1,285 |
Change the numbers in the calculator
| Down payment | $6,958 |
|---|---|
| Loan amount | $195,199 |
| Principal and interest | $1,313 |
| Property taxes (0.80% a year) | $133 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| FHA mortgage insurance | $88 |
| Total per month | $1,616 |
Change the numbers in the calculator
Questions about home buying in Ray County
What is the median home value in Ray County?
About $198,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ray County?
Homeowners pay a median $1,594 a year, which is about 0.80% 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 Ray County?
For the median home with 20% down at 7.11%, the payment is about $1,285 a month. Keeping that under 28% of gross income takes about $55,082 a year.
More about Ray County
- Mortgage Refinance in Ray County
- Debt Relief in Ray County
- Home Equity Loans in Ray 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