How Much Does It Cost to Buy a House in Missouri?

Kristy Snyder

By 

Kristy Snyder

October 5th, 2022
Updated October 5th, 2022

SHARE

Costs to buy a house in Missouri | Missouri closing costs | Missouri house buying calculator | Homeownership costs | How to save when buying a home in Missouri

The average home buyer in Missouri spends between $19,079 and $67,258 when purchasing a $234,924 home — the state median value.

Keep in mind, this is just the cost of buying a home. After you close, you'll still need to budget for all the ongoing costs of homeownership.

If you're looking for ways to cut down on the costs of buying a home, Clever Real Estate can help. We're an agent-matching service that can help you compare real estate agents in your local area. All of our agents offer local expertise to keep more money in your pocket.

💰Buying a home is expensive💰

Buying a home is expensive, but Clever can help. We'll connect you with a top, local agent that can negotiate a better deal with the seller.

✅ Compare full-service realtors from multiple brokerages

✅ Get hyper-local insights from experienced agents

✅ Clever is 100% free, with zero obligation

Average cost to buy a house in Missouri

Expense
Amount
$2,349 to $7,048
$8,222 to $46,985
$2,155 to $3,233
$4,613
$244
$244
$1,250 to $4,890
Total
$19,079 to $67,258

Buyer closing costs in Missouri

While the other costs to buy a house in Missouri are pretty transparent, Missouri closing costs are a bit more nuanced. They're actually a series of smaller costs lumped together into one total. Here's a breakdown of all of the Missouri closing costs you'll likely pay when buying a home.

Closing cost
Amount
Closing fee
$235
Recording fee
$97
Title service fees
$533
Origination fee
$1,175
Underwriting fee
$600
Discount points
$1,879 per point
Lender's title insurance
$95
Owner's title insurance
Typically paid by seller
Prorated property tax
Varies
Transfer tax
No transfer tax in Missouri
Total
$4,613

Keep in mind, closing costs are often negotiable. However, to win the negotiation battle, you'll need a great agent who can work out a deal with the seller. Clever can match you with a top agent in your area that can get the seller to shoulder more of the above costs.

Contact us at Clever for top agent recommendations.

Cost to buy a house in Missouri calculator

Ongoing costs of homeownership in Missouri

Unfortunately, the cost to buy a house is just the beginning. After closing, you'll officially own the home and begin paying for the ongoing costs of homeownership.

Expense
Average monthly cost
Mortgage (principle and interest)
$1,078
Homeowners insurance
$169
Taxes
Varies but averages $188 statewide
Maintenance
$195
Utilities
$389
Total
$2,019
Note: All numbers are estimates based on state averages and a median home value of $234,924 and a down payment of 20%.

Besides the expenses outlined above, you'll also want to consider private mortgage insurance (PMI) and homeowner's association (HOA) fees.

  • If you pay less than 20% as a down payment on your house, you'll probably have to pay PMI monthly until you get to 20% equity. For the average Missouri homeowner, this is between $102 to $346 a month.
  • Some neighborhoods have HOA fees for the care and maintenance of common areas. The national average is around $250 per month.

» MORE: The true cost of homeownership

Top ways to save money when buying a house in Missouri

1. Look into better financing options

Paying off debts and getting your credit in the best shape possible before applying for a loan will help you get a better interest rate, which will lower your monthly payments for the life of the loan.

You can also shop around to compare lenders so you get the lowest fees and interest rates available. It may be a good idea to enlist the help of a mortgage broker if you're not sure how to go about vetting lenders.

Get Pre-approved Today!

Get matched with a lender who can tell you how much house you can afford. To get started, where do you plan on buying?

2. Participate in home buyer programs Missouri

Buyers in Missouri may find Missouri Housing Development Commission’s programs helpful for making homeownership affordable. It offers three home buyer programs:

  • First Place Loan Program: gives first-time homebuyers and qualified Veterans either favorable loan rates or cash assistance for down payment and closing costs
  • Next Step Program: offers eligible buyers a fixed-rate loan and the option for down payment and closing cost assistance
  • Mortgage Credit Certificate: provides eligible borrowers a non-refundable federal tax credit of 25 percent of the total amount of mortgage interest they pay each year. You can apply for this in addition to the Next Step Program as well.

There are also a lot of county- and city-specific programs available if you buy in select areas — the HUD lists several you can choose from throughout the state based on your location.

» MORE: First-time home buyer programs everyone should know about

3. Partner with an expert agent

Having an expert agent on your side can ensure you win the negotiating battle with the seller.

Clever can help match you with a knowledgeable, hyper-local agent that knows the ins and outs of how to save you money on your local fees. And best of all, our service is totally free!

👋 Find your perfect agent now!

Finding a great local realtor is the first step in making your home buying dreams a reality. Our free service matches you with top agents from trusted brands like Keller Williams and RE/MAX.

Enter your zip code to request hand-picked agent matches in minutes. Compare your options until you find the perfect fit, or walk away with no obligation. Try Clever's free service today!

Related links

Better real estate agents at a better rate

Enter your zip code to see if Clever has a partner agent in your area.

If you don't love your Clever partner agent, you can request to meet with another, or shake hands and go a different direction. We offer this because we're confident you're going to love working with a Clever Partner Agent.