Quick facts: Hamilton, MO

Quick Facts

94.1
Cost of Living
below US average
1,690
Population
5.92
Crime Rate per 1000
below US average
$53,438
Median Income
below US average
$249,000
Median House Price
above US average
$1340
Average Rent
below US average
11%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $53,438.

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Income Needed to Buy

βœ— Stretch
$78k/year
Based on $249,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $78k vs median $53,438
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Income Needed to Rent

⚠ Stretch
$57k/year
Based on $1340/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $57k vs median $53,438
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Hamilton, MO

Hamilton is a charming small city located in Caldwell County, Missouri. Known for its rich history, particularly as an important stop on the railroad in the 19th century, Hamilton boasts a close-knit community with a population of just over 1,600 residents. One of its highlights is the vibrant downtown area, featuring local shops, boutiques, and eateries that reflect the city's friendly atmosphere. The city is also renowned for being the home of the famous Hallmark Cards founder, Joyce Hall, making it a landmark for card enthusiasts. Hamilton is often dubbed the "City of Quilts" due to its strong quilting heritage and hosts the popular Missouri Star Quilt Company, which attracts visitors from across the nation. Additionally, the city offers various parks and recreational facilities, ideal for families and outdoor activities. Hamilton is conveniently located near major highways, providing easy access to surrounding areas. Its small-town charm, along with its historical significance and artistic appeal, makes Hamilton a unique spot for both residents and visitors looking to experience quintessential Midwestern life.

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