Mortgage on a $200K house in Iowa
$1,388 a month with 20% down — $1,076 principal and interest plus $212 property tax and $100 insurance.
Iowa's typical property tax is 1.27% of the home's value a year (U.S. average 0.9%), which adds $212 a month on a $200K home. The typical home in Iowa is worth $236,623, so $200K is 15% below the typical price.
$200K home in Iowa: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $40,000 | $160,000 | $1,076 | $0 | $312 | $1,388 | $59,500 |
| 10% down | $20,000 | $180,000 | $1,211 | $75 | $312 | $1,598 | $68,500 |
| 5% down | $10,000 | $190,000 | $1,278 | $79 | $312 | $1,669 | $71,500 |
| 3.5% down (FHA) | $7,000 | $196,378 | $1,321 | $88 | $312 | $1,721 | $73,800 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.27% 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.
Where in Iowa does $200K buy a typical home?
In these counties the typical home value is within 15% of $200K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Mahaska County | $200,948 | 1.32% | $1,396 |
| Adair County | $197,786 | 1.28% | $1,389 |
| Clarke County | $197,299 | 1.6% | $1,443 |
| Clay County | $195,966 | 1.15% | $1,368 |
| Howard County | $204,056 | 1.25% | $1,385 |
| Cerro Gordo County | $204,868 | 1.45% | $1,418 |
| O Brien County | $194,875 | 0.98% | $1,340 |
| Muscatine County | $205,712 | 1.5% | $1,426 |
| Woodbury County | $207,499 | 1.45% | $1,418 |
| Henry County | $192,451 | 1.56% | $1,436 |
| Marshall County | $192,339 | 1.42% | $1,413 |
| Worth County | $190,414 | 1.1% | $1,359 |
55 of 99 Iowa counties tracked by Zillow have a typical home value at or below $200K. See all Iowa home prices.
Other prices in Iowa
Frequently asked questions
What is the mortgage on a $200K house in Iowa?
About $1,388 a month with 20% down at 7.11%: $1,076 principal and interest, $212 property tax and $100 insurance.
How much do I need to make to buy a $200K house in Iowa?
About $59,500 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $200K house in Iowa?
At Iowa's typical effective rate of 1.27%, about $2,543 a year. Rates vary by county and city — see the county pages.