Cost of Ownership · Iowa
The true cost of owning a home in Iowa
For a median $208,000 home in Iowa, here is the full monthly cost — not just the mortgage. Built from public data: the state's median home value and effective property-tax rate, its average homeowners premium, and the current 30-year rate. This is a representative example, not a quote.
Lender-approved payment
$1,618/mo
PITI + PMI
True monthly cost
$1,792/mo
everything, incl. upkeep
The gap
+$173/mo
what approval leaves out
Effective property-tax rate
1.39%
Avg. homeowners premium
$1,268/yr
NFIP flood claims on record
14,748
Closing costs in Iowa
Median closing costs and lender origination charges on real home-purchase loans in Iowa, from public CFPB HMDA data. Cells with fewer than 25 loans aren't shown.
Median total closing costs
$2,754
Typically $2,023–$4,868
Median origination charges
$1,120
Typically $695–$2,428
| Loan size | p25 | Median | p75 | Loans |
|---|---|---|---|---|
| All | $2,023 | $2,754 | $4,868 | 29,854 |
| All | $1,942 | $2,750 | $5,191 | 28,587 |
| < $250k | $2,023 | $2,752 | $4,566 | 18,532 |
| < $250k | $1,917 | $2,660 | $4,643 | 19,298 |
| $250k–$500k | $2,011 | $2,763 | $5,867 | 9,872 |
| $250k–$500k | $2,001 | $3,069 | $6,777 | 8,208 |
| $500k–$750k | $2,016 | $2,627 | $6,905 | 932 |
| $500k–$750k | $2,026 | $2,633 | $5,249 | 1,163 |
| > $750k | $2,436 | $3,053 | $5,567 | 287 |
| > $750k | $2,664 | $4,346 | $10,402 | 149 |
Compare your own Loan Estimate with the Loan Estimate Decoder, or see every state in the Fee & Rate Index.
Common questions about buying a home in Iowa
- What are the median closing costs in Iowa?
- Median total closing costs — lender and third-party charges — on a home-purchase loan in Iowa are about $2,754, from public CFPB HMDA data. Cells with fewer than 25 loans are suppressed.
- What is the effective property-tax rate in Iowa?
- The effective property-tax rate in Iowa is about 1.39%, from the Census American Community Survey (median real estate taxes divided by median home value).
- What does a median home cost to own each month in Iowa?
- A median $208,000 home in Iowa costs about $1,792 a month to own — principal, interest, property tax, insurance, PMI, and a maintenance reserve — versus a lender-approved payment of about $1,618. Every figure is from public data.
These figures use Iowa's median home value and a 10% down payment as a representative example. Your price, rate, and county rate will differ — run your own numbers in the True Cost tool, see how Iowa ranks on property tax and insurance, or browse every state.