CALCMONEY // MORTGAGE // IA
Calculate your monthly mortgage payment using Iowa-specific property tax rates, current average interest rates, and local median home prices.
Open Full Calculator$210,000
6.95%
1.57%
3.8% flat
How today's 6.95% rate compares to recent years
| Period | 30-Yr Rate | vs. Today |
|---|---|---|
| 2026 (current) | 6.95% | — |
| 2024 avg | 7.37% | -0.42% |
| 2023 avg | 7.80% | -0.85% |
| 2022 peak | 7.63% | -0.68% |
| 2021 avg | 3.55% | +3.40% |
| 2020 avg | 3.35% | +3.60% |
Rate estimates based on Freddie Mac Primary Mortgage Market Survey national averages adjusted for Iowa market conditions. Actual rates vary by lender and borrower profile.
| Principal & Interest | $1,112 |
| Property Tax | $275 |
| Homeowners Insurance (est.) | $70 |
| Total Monthly Payment (PITI) | $1,457 |
$42,000
$232,346
$62,435/yr
The median home price in Iowa is $210,000, below the national median of $420,000. With a median household income of $65,600, the price-to-income ratio is 3.2x.
Property taxes in Iowa average 1.57% of assessed value. On the median home, that is $3,297 per year, or $275 per month added to your mortgage payment. This is significantly above the national average of 1.1%, making property taxes a major factor in your total housing cost.
Iowa has a state income tax of 3.8% flat. Factor this into your take-home pay when calculating how much mortgage you can afford.
The cost of living index in Iowa is 90 (national average = 100). Beyond housing, your everyday expenses will also be below the national average.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $168,000 loan saves $7,560 in interest over 30 years.
Compare Top Iowa Mortgage Lenders