The typical owner-occupied home in Mountain Grove is worth about $87,200, 62% below the Missouri median of $230,300 and 74% below the national median of $332,700. Owners pay a median $438 a year in property taxes, about 0.50% of their home's value, lower than the Missouri rate of 0.85%. The median household earns $37,415 a year, so the median home costs 2.3 times the median income (3.3 times for Missouri). 75% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Mountain Grove at a glance
| Mountain Grove | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $87,200 | $230,300 | $332,700 |
| Median property tax paid per year | $438 | $1,948 | $3,119 |
| Property tax as a share of value | 0.50% | 0.85% | 0.94% |
| Median household income | $37,415 | $70,702 | $80,734 |
| Homes lived in by their owners | 75% | 68% | 65% |
| Owner homes with a mortgage | 46% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $950 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 30.2% | 19.0% | 21.0% |
| Median rent | $839 | $1,033 | $1,413 |
| Rent as a share of renters' income | 28.9% | 28.1% | 30.6% |
| Median year homes were built | 1967 | 1978 | 1980 |
| Vacant homes | 17.7% | 11.2% | 10.1% |
| Population | 4,491 | 6,191,814 | 334,922,499 |
What a typical home costs per month in Mountain Grove
At this week's average 30-year rate of 7.11%, buying the median Mountain Grove home of $87,200 with 20% down costs about $542 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $687, 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 $23,226 for the 20%-down payment. That payment is 17% of the median Mountain Grove household income of $37,415; at that income and 20% down, the 28% guideline points to a home of about $140,000.
The median rent here is $839 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $17,440 |
|---|---|
| Loan amount | $69,760 |
| Principal and interest | $469 |
| Property taxes (0.50% a year) | $36 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| PMI | $0 |
| Total per month | $542 |
Change the numbers in the calculator
| Down payment | $3,052 |
|---|---|
| Loan amount | $85,621 |
| Principal and interest | $576 |
| Property taxes (0.50% a year) | $36 |
| Homeowners insurance (our estimate, 0.5% a year) | $36 |
| FHA mortgage insurance | $39 |
| Total per month | $687 |
Change the numbers in the calculator
Questions about home buying in Mountain Grove
What is the median home value in Mountain Grove?
About $87,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mountain Grove?
Homeowners pay a median $438 a year, which is about 0.50% 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 Mountain Grove?
For the median home with 20% down at 7.11%, the payment is about $542 a month. Keeping that under 28% of gross income takes about $23,226 a year.
More about Mountain Grove
- Mortgage Refinance in Mountain Grove
- Debt Relief in Mountain Grove
- Home Equity Loans in Mountain Grove
- 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