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Formoso

Learn about the people, housing, costs and businesses in Formoso, Kansas

Median Home$64,600
Median Rent$608/month
Population94
Leading IndustriesConstruction · Agriculture & Mining · Finance & Insurance12% construction
Retirees31% of residentswell above average
Homeowners74% of occupied units
NotableAffordable Market$65k median home · lower cost than 99% of the country
NotableVeteran Community9% of residents · top 22% nationally
Formoso
KS

Frequently Asked Questions

What are today's mortgage rates in Formoso?

As of today, the 30-year fixed mortgage rate for Formoso is approximately 6.958% (6.999% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Formoso?

The median home value in Formoso is $65k. The median monthly rent is $608. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

How much income do you need to buy a home in Formoso?

Based on a typical all-in ownership cost of $574/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $25k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Formoso is $53k/year.

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What industries drive the economy in Formoso?

The largest employment sectors in Formoso are public administration (23%) and agriculture and mining (12%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.