Market Overview
Home Prices in Elkland, MO
The median home value in Elkland, MO is $294,701 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.9% compared to a year ago and up 2.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Elkland are priced28% below average. Elkland is part of the Springfield, MO metro area.
Over the past five years, Elkland home values have risen by approximately36.7%, reflecting strong long-term appreciation in this market.
Price History
Elkland Home Price Trend
City Comparison
Elkland vs. National Median
At $294,701, homes in Elkland cost 28% below the national median of $410,000. This makes Elkland a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Elkland?
20% Down Payment
$58,940
on $294,701
Monthly P&I
$1,537/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,952/mo
incl. taxes & insurance
Income Needed
$78,080
gross annual (30% rule)
10% Down Option
$29,470
+ PMI applies
Loan Amount (20% dn)
$235,761
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Elkland, MO?
The median home value in Elkland is $294,701 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.9% year-over-year.
How much have home prices changed in Elkland?
Over the past year, home values in Elkland have increased by 6.9%. Over five years, prices have risen approximately 36.7%.
How much do I need to earn to buy a home in Elkland?
To comfortably afford the median home price of $294,701 with a 20% down payment ($58,940) at today's rates (6.8%), you'd need a gross annual income of approximately $78,080. This assumes keeping total housing costs at or below 30% of gross income.
How does Elkland compare to the national average home price?
The national median home value is approximately $410,000. At $294,701, homes in Elkland are 28% below the national average.
What metro area is Elkland part of?
Elkland is part of the Springfield, MO metropolitan area. Home prices and market conditions can vary across the broader metro region.