What if you could see your true monthly cost before you write an offer in Clayton? When you look beyond the list price, you protect your budget and avoid surprises after closing. This guide walks you through every recurring expense, tailored to Clayton, so you can compare a single‑family home with a condo and make a confident choice. Let’s dive in.
Turn price into a mortgage payment
Your core payment is mortgage principal and interest. Use a standard amortization calculator with your loan amount, interest rate, and term. Keep taxes and insurance separate so you can build a clear PITI estimate.
Quick per‑$100,000 lookup (30‑year loan)
- At 5% interest: about $537 per month per $100,000
- At 6% interest: about $600 per month per $100,000
- At 7% interest: about $665 per month per $100,000
- At 8% interest: about $734 per month per $100,000
Ask your lender for current rates, and add private mortgage insurance if your down payment is under 20 percent.
Property taxes in Clayton: how to estimate
Missouri calculates residential taxes using an assessed value that is 19 percent of market value. You then multiply that assessed value by the combined mill levy for all taxing districts that apply to the property, and divide by 1,000. Convert the annual total to a monthly number by dividing by 12.
- Formula: Market value × 19% = assessed value. Assessed value × combined mills ÷ 1,000 = annual tax. Annual tax ÷ 12 = monthly tax.
- Where to verify: Request the property’s most recent tax bill and mill levy from the Assessor or Collector. Because school district and city boundaries can change the rate, confirm the exact district assignments for the specific parcel.
Example method for a $350,000 home: $350,000 × 19% = $66,500 assessed. If the combined levy is 80 mills (illustrative), annual tax is $66,500 × 0.080 = $5,320, or about $443 per month. Always replace the sample mill rate with the actual rate for the property.
Insurance: homeowner vs. condo
- Single‑family homes typically use an HO‑3 policy that covers the structure, personal property, liability, and loss of use. Premiums depend on the home’s age, construction, coverage limits, and claims history.
- Condos typically use an HO‑6 policy for interiors, personal property, and liability, while the HOA’s master policy covers the building’s exterior and common areas. Your coverage needs depend on what the master policy excludes.
How to estimate: Request quotes using the property address and coverage limits from a local insurance agent. Clarify deductibles, add‑ons like umbrella liability, and whether you need flood coverage.
HOA and condo fees
Condo and HOA fees vary based on amenities, building age, management, insurance, and which utilities are included. Some associations include water, sewer, trash, gas, or cable. Others cover exterior maintenance only.
- What to request: The full HOA resale packet, including the budget, reserve study, master insurance declaration, meeting minutes, and any history of special assessments.
- What to confirm: Which utilities are included, parking terms, pet policies, and any scheduled or potential assessments.
Utilities and municipal services
Utility costs depend on your usage, the home’s efficiency, and the season. In Clayton and surrounding St. Louis cities, plan for the following providers and verification steps:
- Electricity: Evergy. Request a recent bill or usage history from the seller. Ask Evergy about current residential rates.
- Natural gas: Spire Energy. Expect higher winter usage. Ask for billing averages by month.
- Water, sewer, stormwater: The municipal utility for the specific city within St. Louis Review rate schedules and whether stormwater fees are billed separately.
- Trash and recycling: Some municipalities include basic service; others contract by cart or household. Confirm with the city’s public works or utility department.
- Internet/TV/phone: Spectrum, AT&T, and Google Fiber serve parts of St. Louis County. Check availability by address and compare standard vs. promotional pricing.
Ask the seller for 12 months of utility bills to capture seasonality before you finalize your budget.
Parking and transportation costs
- Condos: Confirm whether parking is deeded, assigned, or leased, and whether there is a separate monthly fee for a garage stall. Ask about guest parking rules and any waiting lists.
- Single‑family homes: You may not have a monthly parking fee, but account for driveway or garage upkeep over time. If the property is in a permit zone, verify any city fees and rules.
Maintenance, repairs, and reserves
A simple rule for single‑family homes is to set aside 1 to 3 percent of the home’s value per year for maintenance and repairs. Older homes or homes with aging roofs, HVAC, or windows require the higher end of the range.
For condos, exterior items are often handled by the HOA, but you should still budget for interior repairs and a personal reserve. Review the HOA reserve study to understand the risk of special assessments.
Other recurring services to consider
- Lawn and landscaping, snow removal
- Pest control
- Pool or spa care
- Home security monitoring
- House cleaning
- Appliance service plans or extended warranties
Decide which services you will perform yourself and which you will outsource so your monthly plan reflects real behavior.
Special local charges and assessments
Properties in St. Louis County area can be subject to special assessments for sewer improvements, community improvement districts, or other local projects. School district levies also affect the combined mill rate.
How to verify:
- Review county parcel records and the seller’s current tax bill.
- Ask your title company or agent to check for recorded districts or pending assessments.
- Read HOA meeting minutes for discussions of large projects or financing needs.
Monthly checklist: single‑family home in Clayton
Use this list to gather exact numbers for a house:
- Mortgage principal and interest. Verify with your lender’s estimate based on loan amount, interest rate, and term.
- Property taxes (monthly portion). Verify with the County Assessor or Collector using the 19 percent assessment and the current combined mill levy.
- Homeowner’s insurance (HO‑3). Verify with a local insurance quote.
- Private mortgage insurance (if applicable). Verify with your lender.
- Electricity. Verify with Evergy or past bills from the seller.
- Natural gas. Verify with Spire Energy or past bills.
- Water and sewer, plus stormwater if billed. Verify with the local municipal utility.
- Trash and recycling. Verify with the municipality or service provider.
- Internet/TV/phone. Verify with providers by address.
- Lawn and snow care. Verify your chosen service plan or DIY costs.
- Maintenance and repairs reserve. Set aside 1 to 3 percent of home value per year, divided monthly.
- HOA fee (if the subdivision has one). Verify with the HOA statement.
- Parking expenses (if any). Verify city permit rules or leased garage rates.
Monthly checklist: condo in Clayton
Use this list to gather exact numbers for a condo:
- Mortgage principal and interest. Verify with your lender.
- Property taxes (monthly portion). Verify with the county using the 19 percent assessment method and the exact mill rate.
- HO‑6 condo insurance. Verify with a local insurance quote.
- HOA or condo fee. Verify with the HOA statement and resale packet details.
- Utilities not covered by the HOA. Verify electric, internet, and any other separate services.
- Parking fee (if not included). Verify whether parking is deeded, assigned, or leased, plus any monthly fee.
- Maintenance and interior repairs reserve. Decide a monthly set‑aside.
- Special assessment risk. Review the reserve study, budget, meeting minutes, and history of assessments.
Step‑by‑step: get accurate numbers before you offer
- Ask the seller for 12 months of utility bills for electric, gas, water, and sewer. Include any trash or stormwater charges.
- Request the HOA resale packet for condos, including the budget, reserve study, insurance summary, and meeting minutes.
- Pull the property’s tax history and current mill levy from the Assessor or Collector.
- Get insurance quotes using the property address and a realistic rebuild cost.
- Confirm parking terms in writing, including guest policies and any fees.
- Review municipal utility schedules for water, sewer, stormwater, and trash where the property is located.
- Ask your lender for a written payment estimate, including PMI if applicable.
Two quick illustrations (replace with your exact figures)
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Condo example (illustrative): $250,000 purchase with 20 percent down at the current 30‑year rate. Mortgage P&I per the rate table above. HOA fee per the association’s statement, which might include water and building insurance. Property tax computed using 19 percent assessment and the actual combined mill levy for the parcel. Add HO‑6 insurance, any electric and internet not covered, and a small monthly reserve for interior repairs.
Single‑family example (illustrative): $350,000 purchase with 20 percent down. Calculate P&I using your rate. Compute taxes via the 19 percent assessment and confirmed mill levy. Add homeowner’s insurance, all utilities, lawn and snow care if outsourced, and a maintenance reserve using the 1 to 3 percent rule.
When you total each line, you will have a clear, apples‑to‑apples monthly comparison for a house versus a condo in Clayton.
Ready to build your property‑specific checklist and run the numbers together? Let’s make a smart plan before you write an offer. Reach out to Unknown Company and Let’s Connect.
FAQs
How do I compare a condo vs. a house monthly in Clayton?
- Add mortgage principal and interest, property taxes, insurance, HOA fees (for condos), utilities not covered by the HOA, parking, and a monthly maintenance reserve, then compare the totals.
How are Missouri property taxes calculated for homes in St. Louis?
- Missouri assesses residential property at 19 percent of market value; multiply that assessed value by the combined mill levy for the parcel to get annual taxes, then divide by 12 for the monthly amount.
Do HOA or condo fees replace my insurance?
- No. The HOA master policy typically covers the exterior and shared areas, while you still need an HO‑6 policy for a condo or an HO‑3 policy for a house to cover interiors and personal property.
Which utilities should I expect to pay in Clayton?
- Plan for electricity, natural gas, water, sewer, and possibly stormwater, plus internet and TV; trash may be municipal or contracted. Verify specifics with providers and the city where the property sits.
How much should I budget for maintenance on a house?
- A common guide is 1 to 3 percent of the home’s value per year, divided monthly, with older homes and outdated systems requiring a higher set‑aside.
How do I check for special assessments or local fees in Clay County?
- Review county parcel records and the seller’s tax bill, read HOA minutes and budgets, and ask your title company or agent to check for special districts or pending assessments.
