Calculate your monthly mortgage payment in Iowa. Pre-filled with Iowa's typical home value of $239,500 (Zillow Home Value Index, August 2026) and an effective property tax rate of 1.29% (Census ACS 2024 1-year, median taxes ÷ median home value).
Est. Monthly Payment
$1,636
Principal & Interest
$1,279
Property Tax / mo
$257
Total Interest Paid
$268,690
| Home Price | $239,500 | Typical home value in Iowa — Zillow Home Value Index, August 2026 |
| Down Payment | 20% ($47,900) | Assumption — no sourced state average |
| Loan Amount | $191,600 | Home price minus down payment |
| Interest Rate | 7.03% | Freddie Mac PMMS national average, week of 2026-09-24 — not a Iowa rate |
| Loan Term | 30 years | Assumption |
| Property Tax | 1.29% / year | Iowa effective rate — Census ACS 2024 1-year, median taxes ÷ median home value |
| Home Insurance | 0.5% / year | Assumption — not a sourced premium |
Programs named for Iowa: IFA FirstHome, IFA Homes for Iowans. This list has no recorded source or date and may be out of date — confirm current programs and eligibility with the Iowa housing finance agency before you rely on it.
Cost of living: Low (index 86.1, MERIC (C2ER index), Second Quarter 2026) · Population: 3,238,387 (Census Bureau estimate, July 1, 2025)
Iowa has a typical home value of about $239,500 (Zillow Home Value Index, August 2026), below the U.S. typical value of $368,700. With an assumed 20% down payment of $47,900, a buyer would finance $191,600 over 30 years. At the national 7.03% fixed rate, the monthly principal and interest payment comes to $1,279.
The effective property tax rate in Iowa — median real estate taxes paid divided by median home value — is 1.29% per year (Census ACS 2024 1-year, median taxes ÷ median home value), against 0.89% for the U.S. Combined with an assumed $100 a month for homeowners insurance, the estimated all-in monthly housing cost is about $1,636.
Using the 28% housing cost guideline, you would need a gross annual income of approximately $70,096 to qualify comfortably. The median household income in Iowa is $75,501 (Census ACS 2024 1-year).
