St. Louis has relatively low housing prices compared to other major cities in the Midwest, but the differing property tax structures between the City and County can be confusing.

The average effective tax rate in Missouri is around 0.9% to 1.0%, but St. Louis City often has a higher rate of 1.3% to 1.4%, while St. Louis County tends to be slightly lower at 1.0% to 1.2%.

The median home price in St. Louis City is approximately $180,000 to $200,000 as of 2025, which means annual property taxes are estimated to be around $2,500 to $2,800. Moving to the County, home prices increase, leading to higher absolute tax amounts as well.

Home insurance premiums tend to range from $1,900 to $2,400 annually, as Missouri is classified as a region prone to wind damage from tornadoes and hail. Particularly in spring, areas with a history of hail damage can see significant variations in insurance costs based on roof condition.

For maintenance costs, it's generally safe to budget around 1.5% to 2% of the home value, and considering that many homes in St. Louis City are around 100 years old, it's advisable to budget closer to the upper end of 2%. For a $190,000 home, this could mean an annual cost of about $3,800.

When you add these six items together, the total annual cost of home ownership is estimated to be between $8,200 and $9,000, and condos or townhouses may incur additional HOA fees ranging from $150 to $350 per month.

In nearby Clayton or Kirkwood, which are excellent school districts within St. Louis County, the tax rates are similar, but home prices are significantly higher, often resulting in a greater tax burden compared to the City.

Missouri also operates a property tax credit program for low-income seniors, so Korean retiree households that meet the income requirements can receive a refund each year by applying for this program.