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What income do you need to buy in Morrell Park?
About $117,000 a year to buy the typical Morrell Park home, which sells for about $330,000.
- Typical sale price
- $330,000Median of 78 sales in the past 12 months
- Income needed
- $117,000A year, before taxes
- Cash needed up front
- $47,00010% down, transfer tax and closing costs
Assumes 10% down, no other debts, credit of 700–759, and a 7.49% 30-year rate (the 7.24% weekly average plus 0.25 points for good credit). These are estimates, not a loan offer.
What it costs each month
| Principal and interest | $2,075 |
|---|---|
| Property tax | $381 |
| Insurance | $138 |
| Mortgage insurance | $124 |
| Total a month | $2,718 |
Claiming the Homestead Exemption could lower the property tax by about $117 a month. The total above does not include that saving.
How prices have moved
Down 2.8% from the year before, comparing the median sale price of the last 12 months with the 12 months before.
| Quarter | Median sale price | Sales |
|---|---|---|
| Q1 2025 | $347,450 | 12 |
| Q2 2025 | $340,000 | 33 |
| Q3 2025 | $325,000 | 19 |
| Q4 2025 | $339,999 | 27 |
| Q1 2026 | $336,250 | 20 |
| Q2 2026 | $313,750 | 28 |
| Q3 2026 | $330,500 | 12 |
Quarters with no recorded sales are left blank.
Tell us four things
Nearby neighborhoods
Cheaper nearby
- Modena $315,000
- Academy Gardens $326,000
- Millbrook $326,000
Pricier nearby
- Normandy Village $363,000
Questions about buying in Morrell Park
What income do you need to buy a home in Morrell Park?
About $117,000 a year for the typical Morrell Park price of $330,000, keeping the housing payment to 28% of gross income. Assumes 10% down, no other debts, credit of 700–759, and a 7.49% 30-year rate (the 7.24% weekly average plus 0.25 points for good credit).
How much cash do you need to buy in Morrell Park?
About $47,000 up front at the typical price: 10% down ($33,000), your share of the transfer tax ($7,554) and closing costs ($6,600).
What does a typical home in Morrell Park cost per month?
A typical Morrell Park home costs about $2,718 a month all in: principal and interest $2,075, property tax $381, insurance $138, mortgage insurance $124. Claiming the Homestead Exemption could lower the tax by about $117 a month.
Based on 78 sales, as of 2026-10-29. Mortgage rate 7.24% (Freddie Mac, week of 2026-10-29). Estimates only, not financial advice. Talk to a lender.