CALCMONEY // MORTGAGE // IA // CEDAR RAPIDS
Calculate your monthly mortgage payment using Cedar Rapids-specific property tax rates and local market data.
$195,000
6.95%
1.5%
84
| Principal & Interest | $1,033 |
| Property Tax | $244 |
| Homeowners Insurance (est.) | $65 |
| Total Monthly Payment (PITI) | $1,341 |
$39,000
$215,750
$57,488/yr
The median home price in Cedar Rapids is $195,000, below the national median of $420,000. With a median household income of $60,000, the price-to-income ratio is 3.3x — meaning buyers typically spend 3.3 years of gross income on the purchase price.
Property taxes in Cedar Rapids run 1.5% of assessed value. On the median home, that is $2,925 per year, or $244 per month added to your mortgage payment. This is close to the national average of 1.1%.
Iowa has a state income tax. Factor your take-home pay into how much mortgage you can comfortably carry each month.
The cost of living index in Cedar Rapids is 84 (national average = 100). Beyond housing, your everyday expenses will also run below the national average.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $156,000 loan saves $7,020 in interest over 30 years.
Compare Top Cedar Rapids Mortgage LendersDes Moines
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