2026 data · 1.40% property tax · Median home $185,100
Iowa Mortgage Calculator
A median-priced home in Iowa ($185,100) costs roughly $1,303 per month all-in (PITI), assuming 20% down and a 30-year fixed at 7.0%. Iowa's effective property tax rate is 1.40% — close to the US average of about 1.0%.
Iowa median-home monthly payment
$1,303/mo
P&I $985 · Tax $216 · Insurance $102
@ $185,100 price, 20% down, 30-yr fixed at 7.0%
For a custom calculation with your specific numbers (different down payment, rate, term, or home price), use the main mortgage calculator — it includes a full amortization schedule.
Monthly payments at common home prices in Iowa
| Home price | 20% down | P&I | Prop tax | Insurance | Total PITI/mo |
|---|---|---|---|---|---|
| $185,100 (state median) | $37,020 | $985 | $216 | $102 | $1,303 |
| $200,000 | $40,000 | $1,064 | $233 | $110 | $1,408 |
| $300,000 | $60,000 | $1,597 | $350 | $165 | $2,112 |
| $400,000 | $80,000 | $2,129 | $467 | $220 | $2,816 |
| $500,000 | $100,000 | $2,661 | $583 | $275 | $3,520 |
| $750,000 | $150,000 | $3,992 | $875 | $413 | $5,279 |
Calculations use Iowa's 1.40% effective property tax rate, estimated homeowners insurance at 0.66%/year of home value, 30-year fixed at 7.0%, no PMI (20% down). Closing costs not included.
Iowa property tax
Effective rate
1.40%
Median home value
$185,100
Median property tax
$2,650/yr
Iowa has above-average property tax rates and complex rollback calculations that limit taxable value. Homestead credit reduces tax on first $4,850 of value.
See our property tax calculator for a state-by-state property tax breakdown, and our Iowa paycheck calculator to estimate take-home pay against this monthly housing cost.
Iowa vs neighboring states
| State | Property tax rate | Median home | Median tax/yr | |
|---|---|---|---|---|
| Iowa (this page) | 1.40% | $185,100 | $2,650 | |
| Minnesota | 1.01% | $299,600 | $3,024 | Minnesota mortgage → |
| Wisconsin | 1.63% | $231,200 | $3,796 | Wisconsin mortgage → |
| Illinois | 1.97% | $240,100 | $4,942 | Illinois mortgage → |
| Missouri | 0.88% | $207,400 | $1,808 | Missouri mortgage → |
FAQs about Iowa mortgages
What is the property tax rate in Iowa?
Iowa's effective property tax rate is 1.40%, meaning the average homeowner pays roughly 1.40% of their home's value in property tax annually. On a $185,100 home (the state median), that's about $2,650 per year, or $221 per month added to your mortgage payment.
What is the average monthly mortgage payment in Iowa?
For a home at Iowa's median value of $185,100, assuming 20% down, a 30-year fixed mortgage at 7.0%, and Iowa's 1.40% property tax + estimated insurance, the typical monthly PITI payment is approximately $1,303. This includes $985 principal & interest, $216 property tax, and $102 homeowners insurance.
How much income do I need to buy a house in Iowa?
Using the standard 28% front-end DTI rule, you'd need annual income of approximately $55,843 to comfortably afford Iowa's median-priced home. Lenders typically allow up to 43% total DTI (including all debts), which corresponds to about $36,363 annual income at the maximum end. Your specific qualification depends on credit score, down payment, debts, and lender requirements.
Is Iowa a good state to buy a house?
Iowa's combination of 1.40% property tax (near the national average of ~1.0%) and median home value of $185,100 make it one of the more affordable states for homeowners. Iowa has above-average property tax rates and complex rollback calculations that limit taxable value.
How does Iowa property tax compare to neighboring states?
Iowa's 1.40% rate compares to: Minnesota at 1.01%, Wisconsin at 1.63%, Illinois at 1.97%, Missouri at 0.88%. Property taxes can differ substantially between bordering states — moving 30 miles across a state line can change your annual tax bill by thousands.
Does Iowa have a homestead exemption?
Iowa has above-average property tax rates and complex rollback calculations that limit taxable value. Homestead credit reduces tax on first $4,850 of value.
What's included in PITI?
PITI stands for Principal, Interest, Taxes, and Insurance — the four standard components of a mortgage payment. For your Iowa mortgage, the breakdown on a median-priced home would be: Principal & Interest $985, Property Tax $216, Homeowners Insurance $102. Add PMI if your down payment is under 20%, and HOA fees if your home is in a community with one.