Ames, IA home prices
Typical home $277,302 · +2.6% in a year · income needed $83,800
The Ames, IA metro area ranks 373 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +2.6% in a year and +22.0% over five years. With 20% down at 7.11%, the typical home costs about $1,955 a month including 1.4% property tax (Story County rate).
Mortgage on the typical Ames home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $55,460 | $221,842 | $1,492 | $0 | $463 | $1,955 | $83,800 |
| 10% down | $27,730 | $249,572 | $1,679 | $104 | $463 | $2,246 | $96,300 |
| 5% down | $13,865 | $263,437 | $1,772 | $110 | $463 | $2,345 | $100,500 |
| 3.5% down (FHA) | $9,706 | $272,280 | $1,832 | $123 | $463 | $2,417 | $103,600 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.4% 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.
Counties in the Ames area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Story County, IA | $292,064 | +2.7% | 1.4% |
| Boone County, IA | $232,390 | +2.6% | 1.37% |
What can you afford in Iowa on your salary? · Iowa home prices · Salaries in Iowa
Frequently asked questions
How much is a house in Ames?
The typical home in the Ames, IA metro area is worth $277,302 (Zillow, September 2026).
What salary do you need to buy a house in Ames?
About $83,800 a year for the typical home with 20% down at 7.11%.