Clay County, Iowa home prices
Typical home $195,966 · +4.2% in a year · property tax 1.15%
The typical home in Clay County is worth $195,966, 17% less than the Iowa typical home ($236,623). Values changed +4.2% in the past year and +27.2% over five years. Homeowners here pay a median 1.15% of their home's value in property tax each year ($2,249 on the typical home), versus 1.27% statewide.
Mortgage on the typical Clay County home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $39,193 | $156,773 | $1,055 | $0 | $285 | $1,340 | $57,400 |
| 10% down | $19,597 | $176,369 | $1,186 | $73 | $285 | $1,545 | $66,200 |
| 5% down | $9,798 | $186,168 | $1,252 | $78 | $285 | $1,615 | $69,200 |
| 3.5% down (FHA) | $6,859 | $192,417 | $1,294 | $87 | $285 | $1,667 | $71,400 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.15% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
What it takes: see what you can afford by salary in Iowa · part of the Spencer metro area.
Iowa counties with similar prices
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| O Brien County | $194,875 | +8.0% | 0.98% |
| Clarke County | $197,299 | +2.6% | 1.6% |
| Adair County | $197,786 | +8.4% | 1.28% |
| Henry County | $192,451 | +6.2% | 1.56% |
| Marshall County | $192,339 | +3.6% | 1.42% |
| Mahaska County | $200,948 | +8.5% | 1.32% |
| Worth County | $190,414 | +4.6% | 1.1% |
| Butler County | $190,215 | +4.8% | 1.35% |
| Howard County | $204,056 | +9.3% | 1.25% |
| Cerro Gordo County | $204,868 | +3.0% | 1.45% |
Frequently asked questions
What is the average home price in Clay County, IA?
The typical home value in Clay County is $195,966 (Zillow Home Value Index, September 2026).
How much do you need to earn to buy a house in Clay County?
About $57,400 a year for the typical home with 20% down at a 7.11% 30-year rate.
What is the property tax rate in Clay County?
The median effective rate is 1.15% of home value a year (Census ACS 2024 5-year estimates).