Mortgage on a $250K house in Iowa
$1,735 a month with 20% down — $1,345 principal and interest plus $265 property tax and $125 insurance.
Iowa's typical property tax is 1.27% of the home's value a year (U.S. average 0.9%), which adds $265 a month on a $250K home. The typical home in Iowa is worth $236,623, so $250K is 6% above the typical price.
$250K home in Iowa: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $50,000 | $200,000 | $1,345 | $0 | $390 | $1,735 | $74,400 |
| 10% down | $25,000 | $225,000 | $1,514 | $94 | $390 | $1,997 | $85,600 |
| 5% down | $12,500 | $237,500 | $1,598 | $99 | $390 | $2,087 | $89,400 |
| 3.5% down (FHA) | $8,750 | $245,472 | $1,651 | $111 | $390 | $2,152 | $92,200 |
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 $250K buy a typical home?
In these counties the typical home value is within 15% of $250K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Scott County | $250,205 | 1.47% | $1,778 |
| Cedar County | $254,794 | 1.22% | $1,724 |
| Delaware County | $243,977 | 1.34% | $1,749 |
| Linn County | $242,923 | 1.66% | $1,815 |
| Bremer County | $258,393 | 1.29% | $1,738 |
| Jones County | $241,542 | 1.33% | $1,747 |
| Pottawattamie County | $240,980 | 1.57% | $1,797 |
| Jackson County | $238,489 | 1.23% | $1,727 |
| Allamakee County | $262,926 | 1.27% | $1,735 |
| Washington County | $236,044 | 1.37% | $1,755 |
| Iowa County | $233,726 | 1.36% | $1,753 |
| Lyon County | $266,451 | 0.87% | $1,651 |
78 of 99 Iowa counties tracked by Zillow have a typical home value at or below $250K. See all Iowa home prices.
Other prices in Iowa
Frequently asked questions
What is the mortgage on a $250K house in Iowa?
About $1,735 a month with 20% down at 7.11%: $1,345 principal and interest, $265 property tax and $125 insurance.
How much do I need to make to buy a $250K house in Iowa?
About $74,400 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $250K house in Iowa?
At Iowa's typical effective rate of 1.27%, about $3,179 a year. Rates vary by county and city — see the county pages.