The typical owner-occupied home in Mount Morris is worth about $205,000, 19% below the Pennsylvania median of $254,500 and 38% below the national median of $332,700. Owners pay a median $2,079 a year in property taxes, about 1.01% of their home's value, lower than the Pennsylvania rate of 1.30%. The median household earns $69,423 a year, so the median home costs 3.0 times the median income (3.3 times for Pennsylvania). 70% of occupied homes here are lived in by their owners, and 42% of those owners still have a mortgage.
Mount Morris at a glance
| Mount Morris | Pennsylvania | U.S. | |
|---|---|---|---|
| Median home value | $205,000 | $254,500 | $332,700 |
| Median property tax paid per year | $2,079 | $3,311 | $3,119 |
| Property tax as a share of value | 1.01% | 1.30% | 0.94% |
| Median household income | $69,423 | $77,971 | $80,734 |
| Homes lived in by their owners | 70% | 69% | 65% |
| Owner homes with a mortgage | 42% | 58% | 61% |
| Median monthly costs, owners with a mortgage | $1,444 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 18.2% | 19.4% | 21.0% |
| Median rent | $720 | $1,209 | $1,413 |
| Rent as a share of renters' income | 23.2% | 29.2% | 30.6% |
| Median year homes were built | 1958 | 1965 | 1980 |
| Vacant homes | 25.9% | 9.2% | 10.1% |
| Population | 568 | 13,018,639 | 334,922,499 |
What a typical home costs per month in Mount Morris
At this week's average 30-year rate of 7.11%, buying the median Mount Morris home of $205,000 with 20% down costs about $1,361 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,703, 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 $58,337 for the 20%-down payment. That payment is 24% of the median Mount Morris household income of $69,423; at that income and 20% down, the 28% guideline points to a home of about $244,000.
The median rent here is $720 a month, so owning the median home costs about $641 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $41,000 |
|---|---|
| Loan amount | $164,000 |
| Principal and interest | $1,103 |
| Property taxes (1.01% a year) | $173 |
| Homeowners insurance (our estimate, 0.5% a year) | $85 |
| PMI | $0 |
| Total per month | $1,361 |
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| Down payment | $7,175 |
|---|---|
| Loan amount | $201,287 |
| Principal and interest | $1,354 |
| Property taxes (1.01% a year) | $173 |
| Homeowners insurance (our estimate, 0.5% a year) | $85 |
| FHA mortgage insurance | $91 |
| Total per month | $1,703 |
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Questions about home buying in Mount Morris
What is the median home value in Mount Morris?
About $205,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mount Morris?
Homeowners pay a median $2,079 a year, which is about 1.01% 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 Mount Morris?
For the median home with 20% down at 7.11%, the payment is about $1,361 a month. Keeping that under 28% of gross income takes about $58,337 a year.
More about Mount Morris
- Mortgage Refinance in Mount Morris
- Debt Relief in Mount Morris
- Home Equity Loans in Mount Morris
- 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