CALCMONEY // MORTGAGE // IA // DES MOINES
Calculate your monthly mortgage payment using Des Moines-specific property tax rates and local market data.
$225,000
6.95%
1.48%
87
| Principal & Interest | $1,192 |
| Property Tax | $278 |
| Homeowners Insurance (est.) | $75 |
| Total Monthly Payment (PITI) | $1,544 |
$45,000
$248,942
$66,172/yr
The median home price in Des Moines is $225,000, below the national median of $420,000. With a median household income of $62,000, the price-to-income ratio is 3.6x — meaning buyers typically spend 3.6 years of gross income on the purchase price.
Property taxes in Des Moines run 1.48% of assessed value. On the median home, that is $3,330 per year, or $278 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 Des Moines is 87 (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 $180,000 loan saves $8,100 in interest over 30 years.
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