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St. Louis, MO Mortgage Rates Today

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Current Mortgage Rates in St. Louis

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St. Louis housing market at a glance

September 2026 data

In St. Louis, homes are selling in about 53 days (10 slower than a year ago), sales are up 14.9% from last year, and about 26% of listings have had a price cut.

Median sale price
$185,000
$135 per sq. ft.
Homes sold
3,155
▲ 14.9% vs. 2,745 last year
Days on market
53
vs. 43 days last year
Homes for sale
3,361
276 new listings
Listings with a price cut
26%
862 of 3,361 listings

Source: Movoto St. Louis, MO market trends, September 2026. Last updated October 5, 2026.

What it costs to buy a home in St. Louis

Monthly payments on St. Louis's median home price of $185,000 (September 2026), at today's rates.

20% down · Conventional
$1,459/mo
Down payment
$37,000
Loan amount
$148,000
Rate
7.125%
Principal & interest
$997
Est. property tax
$174
Est. homeowners insurance
$288
5% down · Conventional
$1,646/mo
Down payment
$9,250
Loan amount
$175,750
Rate
7.125%
Principal & interest
$1,184
Est. property tax
$174
Est. homeowners insurance
$288
3.5% down · FHA
$1,655/mo
Down payment
$6,475
Loan amount
$181,649
Rate
6.875%
Principal & interest
$1,193
Est. property tax
$174
Est. homeowners insurance
$288

Payments include principal, interest, estimated St. Louis property taxes, and estimated homeowners insurance. They do not include mortgage insurance (PMI or FHA monthly MIP), which applies with less than 20% down, or HOA dues. The FHA loan amount includes the 1.75% upfront mortgage insurance premium. These are examples based on the median price, not the sample loan used in the rate table above.

How much income do you need to buy a home in St. Louis?

A common lender guideline is to keep your total housing payment (principal, interest, estimated St. Louis property taxes, and estimated homeowners insurance) at or below 28% of your gross monthly income. Gross income is what you earn before taxes and other deductions come out of your paycheck. Based on that guideline, here's the yearly household income needed for St. Louis's $185,000 median home:

20% down · Conventional$1,459/mo payment $62,535/yrabout $5,211/mo before taxes
5% down · Conventional$1,646/mo payment $70,548/yrabout $5,879/mo before taxes
3.5% down · FHA$1,655/mo payment $70,944/yrabout $5,912/mo before taxes

Why this matters: Keeping housing costs near 28% of your income leaves room for other bills, savings and the upkeep that comes with owning a home. It's a planning guideline, not a hard limit.

What lenders look at: Lenders also look at your debt-to-income (DTI) ratio, which adds your car, student loan and credit card payments to the new mortgage payment. Depending on the loan program and your credit, many lenders allow total debts of roughly 43% to 50% of gross income, so you may qualify with less income than shown, or need more if you carry other debt.

Household income counts: If you're buying with a partner or co-borrower, lenders can combine your incomes.

How rates change your payment

Principal and interest on a $148,000 loan (the St. Louis median price with 20% down). Every 0.25% is worth about $25/mo.

Rate6.13%6.38%6.63%6.88%7.13%
today		7.38%
Monthly P&I$899$923$948$972$997$1,022

Ways to make a St. Louis home more affordable

  • Negotiate on price. About 26% of St. Louis listings have had a price cut, so many sellers are open to offers.
  • Ask for seller concessions. Homes take 53 days to sell, 10 more than last year. Sellers may cover closing costs or pay for a rate buydown.
  • Consider buying down your rate. On this example loan, a rate 0.5% lower saves about $49 a month.
  • Compare loan types. FHA rates are at 6.875% vs. 7.125% for conventional, with as little as 3.5% down. Compare by APR, including mortgage insurance.

St. Louis mortgage and home buying FAQs

What are mortgage rates in St. Louis today?

As of October 9, 2026, Lower’s 30-year fixed conventional rate in St. Louis is 7.125% (7.435% APR), and the 30-year FHA rate is 6.875% (7.697% APR). Your rate depends on your credit, down payment, loan type and any points you pay. See the rate table above for points and full details.

What is the monthly payment on a median-priced home in St. Louis?

On St. Louis’s $185,000 median home price (September 2026), a 30-year conventional loan with 20% down at 7.125% comes to about $1,459 a month, including principal, interest, estimated St. Louis property taxes, and estimated homeowners insurance. With an FHA loan and 3.5% down, it’s about $1,655 a month before monthly mortgage insurance.

How much income do I need to buy a house in St. Louis?

To keep housing costs at 28% of gross (pre-tax) income, you’d need a household income of about $62,535 a year to buy St. Louis’s $185,000 median home with 20% down, or about $70,944 with an FHA loan and 3.5% down. Lenders also consider your other debts, so the income you need may be higher or lower.

How much do I need for a down payment in St. Louis?

On the $185,000 median home, 20% down is $37,000, 5% down is $9,250, and the FHA minimum of 3.5% is $6,475. Putting less than 20% down usually means paying mortgage insurance. You’ll also need money for closing costs.

Is it a buyer’s or seller’s market in St. Louis right now?

In September 2026, St. Louis homes sold in about 53 days, 10 days slower than a year earlier. 3155 homes sold, up from 2745 the year before, and about 26% of the 3361 homes for sale have had a price cut. Slower sales and frequent price cuts generally give buyers more room to negotiate than a year ago.

How much does a quarter-point rate change affect payments in St. Louis?

On a $148,000 loan (the median St. Louis home with 20% down), each 0.25% change in rate moves the principal and interest payment by about $25 a month, or about $298 a year.

How much are property taxes in St. Louis?

Lower estimates St. Louis property taxes at about 1.13% of a home’s value per year. On the $185,000 median home, that’s roughly $2,090 a year, or $174 a month. Your actual bill depends on your assessed value and any exemptions.

Market data: Movoto, September 2026. Homeowners insurance estimates are based on average annual premiums in St. Louis from The Zebra; your quote will vary. Rates as of October 9, 2026. Examples only; not an offer of credit. Your rate and payment depend on your credit, down payment, loan type and other factors.

Find Out Why St. Louis Loves Lower

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picked up halfway through and I had no challenges!

Kimberly J.

Verified Customer

September 10, 2026

5.0

Scott, was very helpful to me during through the process of my loan. When I asked him a question he answered me right away . he clearly explained interest rates, closing costs, and origination fees without hidden charges. I… would recommend him .

Dina S.

Verified Customer

September 6, 2026

4.83

We appreciated the constant communication and full answers to any questions we had

Dana P.

Verified Customer

September 4, 2026

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