Quick answer
The median home in Wichita costs $180K. With 20% down ($36K) at 7% for 30 years, the monthly payment is $958/month. Total interest paid over 30 years: $200,893.
Calculator · KS · 2026
Mortgage Calculator for Wichita, KS (2026)
Pre-filled with Wichita's median home price of $180K. Compare payments across down payment sizes and loan terms at the current 7.0% baseline rate.
Last updated: April 23, 2026
Wichita Mortgage Payment Scenarios
Median home price: $180K · Interest rate: 7% · Excludes property taxes and insurance.
| Down Payment | Down ($) | Loan Amount | 30-yr/mo | 15-yr/mo | Total Interest (30yr) |
|---|---|---|---|---|---|
| 5% | $9,000 | $171,000 | $1,138 | $1,537 | $238,560 |
| 10% | $18,000 | $162,000 | $1,078 | $1,456 | $226,004 |
| 20% | $36,000 | $144,000 | $958 | $1,294 | $200,893 |
PMI required for <20% down — add ~$100–300/month to payments above.
Rent vs Buy in Wichita
Monthly cost comparison based on median prices — 20% down, 30-year mortgage at 7%.
Buying (median home)
+ builds equity in $180K asset
Renting (2-bedroom)
Flexibility to move; no equity built
Amortization Over Time
$180K home · 20% down ($144K loan) · 7% · 30 years
Year 1
Year 15
Year 30 (Final)
Frequently Asked Questions
What is the monthly mortgage payment for a home in Wichita?
The median home price in Wichita is $180K. With 20% down and a 30-year loan at 7%, the monthly payment is $958. Adding estimated property taxes and insurance brings total monthly costs to approximately $1,138.
Is it cheaper to rent or buy in Wichita?
A 2-bedroom rental in Wichita averages $1,100/month. Buying the median $180K home with 20% down costs approximately $1,138/month (mortgage + taxes + insurance) — $38 more than renting. However, buying builds equity while renting does not.
How much do I need to earn to buy a home in Wichita?
Using the 28% housing rule, you need at least $41K–49K in annual gross income to comfortably afford the median $180K home in Wichita with 20% down. You also need $36K+ saved for the down payment plus 2–5% in closing costs.
What are property taxes like in Wichita?
KS has a state income tax rate of 5.7% (top). Property taxes vary by county but on a $180K home, expect $150–$300/month in property taxes (1–2% annual rate). This is in addition to your mortgage payment.