Mortgage on a $300K house in Iowa
$2,082 a month with 20% down — $1,614 principal and interest plus $318 property tax and $150 insurance.
Iowa's typical property tax is 1.27% of the home's value a year (U.S. average 0.9%), which adds $318 a month on a $300K home. The typical home in Iowa is worth $236,623, so $300K is 27% above the typical price.
$300K home in Iowa: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $60,000 | $240,000 | $1,614 | $0 | $468 | $2,082 | $89,200 |
| 10% down | $30,000 | $270,000 | $1,816 | $113 | $468 | $2,397 | $102,700 |
| 5% down | $15,000 | $285,000 | $1,917 | $119 | $468 | $2,504 | $107,300 |
| 3.5% down (FHA) | $10,500 | $294,566 | $1,982 | $133 | $468 | $2,582 | $110,700 |
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 $300K buy a typical home?
In these counties the typical home value is within 15% of $300K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Plymouth County | $292,290 | 1.07% | $2,033 |
| Story County | $292,064 | 1.4% | $2,115 |
| Sioux County | $308,457 | 1.12% | $2,044 |
| Johnson County | $309,187 | 1.52% | $2,144 |
| Clayton County | $287,556 | 1.29% | $2,088 |
| Winneshiek County | $315,887 | 1.12% | $2,044 |
| Benton County | $282,938 | 1.31% | $2,092 |
| Mills County | $280,495 | 1.47% | $2,132 |
| Polk County | $279,097 | 1.68% | $2,184 |
| Dubuque County | $277,182 | 1.23% | $2,072 |
| Warren County | $323,570 | 1.43% | $2,123 |
| Guthrie County | $273,068 | 1.22% | $2,070 |
92 of 99 Iowa counties tracked by Zillow have a typical home value at or below $300K. See all Iowa home prices.
Other prices in Iowa
Frequently asked questions
What is the mortgage on a $300K house in Iowa?
About $2,082 a month with 20% down at 7.11%: $1,614 principal and interest, $318 property tax and $150 insurance.
How much do I need to make to buy a $300K house in Iowa?
About $89,200 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $300K house in Iowa?
At Iowa's typical effective rate of 1.27%, about $3,815 a year. Rates vary by county and city — see the county pages.