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Iowa mortgage calculator

The median home in Iowa runs about $210,000. With 20% down that's a loan near $168,000 — the calculator is pre-filled with that figure. Iowa's home prices are among the lowest in the country, but an above-average property tax rate set largely at the county and school-district level offsets some of that affordability.

$1,090.76 / month

Total interest
$224,676
Total paid
$392,676
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$42k$84k$126k$168k0612182430Year

How it works

A full Iowa payment is more than principal and interest. At the state's 1.52% effective property tax rate, a $210,000 home owes about $3,192 a year in tax, and homeowners insurance averages roughly $1,900 a year here. Together those add about $424 to the monthly payment before any HOA dues or PMI.

Iowa's median household income is about $72,000, or $6,000 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,680 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in Iowa sell in about 45 days on average.

Frequently asked questions

What is a typical mortgage payment in Iowa?
On the state's roughly $210,000 median home with 20% down, the loan is about $168,000. Principal and interest depend on your rate; on top of that, Iowa's 1.52% effective property tax rate and about $1,900 a year in homeowners insurance add roughly $424 per month to the payment.
How much are property taxes on a home in Iowa?
Iowa's effective property tax rate averages about 1.52% of market value — roughly $3,192 a year on the $210,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in Iowa?
The average Iowa homeowners policy runs about $1,900 a year. Iowa's home prices are among the lowest in the country, but an above-average property tax rate set largely at the county and school-district level offsets some of that affordability.
Can I afford a home in Iowa on the median income?
Iowa's median household income is about $72,000 a year, or $6,000 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,680 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in Iowa?
A for-sale home in Iowa spends about 45 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

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