The typical owner-occupied home in South Prairie is worth about $444,000, 21% below the Washington median of $564,600 and 33% above the national median of $332,700. Owners pay a median $3,579 a year in property taxes, about 0.81% of their home's value, close to the Washington rate of 0.81%. The median household earns $117,250 a year, so the median home costs 3.8 times the median income (5.8 times for Washington). 93% of occupied homes here are lived in by their owners, and 62% of those owners still have a mortgage.
South Prairie at a glance
| South Prairie | Washington | U.S. | |
|---|---|---|---|
| Median home value | $444,000 | $564,600 | $332,700 |
| Median property tax paid per year | $3,579 | $4,556 | $3,119 |
| Property tax as a share of value | 0.81% | 0.81% | 0.94% |
| Median household income | $117,250 | $98,141 | $80,734 |
| Homes lived in by their owners | 93% | 64% | 65% |
| Owner homes with a mortgage | 62% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $2,398 | $2,445 | $1,963 |
| Those costs as a share of the owners' income | 20.9% | 22.2% | 21.0% |
| Median rent | – | $1,760 | $1,413 |
| Median year homes were built | 1974 | 1985 | 1980 |
| Vacant homes | 6.6% | 7.3% | 10.1% |
| Population | 309 | 7,816,116 | 334,922,499 |
What a typical home costs per month in South Prairie
At this week's average 30-year rate of 7.11%, buying the median South Prairie home of $444,000 with 20% down costs about $2,874 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,614, 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 $123,178 for the 20%-down payment. That payment is 29% of the median South Prairie household income of $117,250; at that income and 20% down, the 28% guideline points to a home of about $423,000.
| Down payment | $88,800 |
|---|---|
| Loan amount | $355,200 |
| Principal and interest | $2,389 |
| Property taxes (0.81% a year) | $300 |
| Homeowners insurance (our estimate, 0.5% a year) | $185 |
| PMI | $0 |
| Total per month | $2,874 |
Change the numbers in the calculator
| Down payment | $15,540 |
|---|---|
| Loan amount | $435,958 |
| Principal and interest | $2,933 |
| Property taxes (0.81% a year) | $300 |
| Homeowners insurance (our estimate, 0.5% a year) | $185 |
| FHA mortgage insurance | $196 |
| Total per month | $3,614 |
Change the numbers in the calculator
Questions about home buying in South Prairie
What is the median home value in South Prairie?
About $444,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in South Prairie?
Homeowners pay a median $3,579 a year, which is about 0.81% 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 South Prairie?
For the median home with 20% down at 7.11%, the payment is about $2,874 a month. Keeping that under 28% of gross income takes about $123,178 a year.
More about South Prairie
- Mortgage Refinance in South Prairie
- Debt Relief in South Prairie
- Home Equity Loans in South Prairie
- 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