Calculate your monthly mortgage payment in Iowa. Pre-filled with Iowa's median home price of $205,000 and an average property tax rate of 1.57%.
Est. Monthly Payment
$1,562
Principal & Interest
$1,209
Property Tax / mo
$268
Total Interest Paid
$250,723
| Home Price | $205,000 | Median home price in Iowa (2025) |
| Down Payment | 10% ($20,500) | Typical down payment percentage |
| Loan Amount | $184,500 | Home price minus down payment |
| Interest Rate | 6.85% | Approximate 30-year fixed rate (2025 avg) |
| Loan Term | 30 years | Most common mortgage term |
| Property Tax | 1.57% / year | Iowa average effective rate |
| Home Insurance | 0.5% / year | Approximate annual premium |
IFA FirstHome, IFA Homes for Iowans
Cost of living: Low · Population: 3,190,369
Iowa has a median home price of approximately $205,000, placing it below the national median. With a 10% down payment of $20,500, a typical buyer would finance $184,500 over 30 years. At a 6.85% fixed rate, the monthly principal and interest payment comes to $1,209.
Property taxes in Iowa average 1.57% of the assessed home value annually — one of the higher rates in the country. Combined with an estimated $85 for homeowners insurance, your all-in monthly housing cost is approximately $1,562.
Using the 28% housing cost guideline, you would need a gross annual income of approximately $66,941 to qualify comfortably. The median household income in Iowa is $61,691.
