The Most Affordable Neighborhoods in Summit, MO by Home Value

These days, finding an affordable place to live in the Summit area can be challenging. Home prices in Summit are now at a median cost of $121,144, lower than the Missouri average of $246,641.

The average cost of rent is $1,052/mo in Summit, primarily driven by the current value of real estate in the Summit area. In Summit, 17.79% of households rent, and 71.54% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Summit is $4,824 per month. Households that rent pay about 21.80% of their income on rent here. Summit’s most expensive areas are in the southwestern regions, while the cheapest areas are in the central parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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