CALCMONEY // HOME AFFORDABILITY // IA // DAVENPORT
How much house can you afford in Davenport? Based on local median home prices, current IA mortgage rates, and Davenport property tax data.
$185,000
$1,293/mo
$55,399/yr
$187,649
Monthly housing costs of $1,293 represent 27.7% of Davenport's median gross monthly income ($4,667/mo). At 27.7%, Davenport falls within the standard 28% affordability threshold at current median income levels.
| Median Home Price | $185,000 |
| Down Payment (20%) | $37,000 |
| Loan Amount | $148,000 |
| Monthly PI Payment | $980 |
| Monthly Property Tax | $236 |
| Monthly Insurance Est. | $77 |
| Total Monthly PITI | $1,293 |
| Housing Cost % of Income | 27.7% |
| Required Income (28% rule) | $55,399/yr |
| Max Affordable Home | $187,649 |
$6,475
$1,621/mo
Davenport Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $185,000 | Davenport city median |
| Down Payment (20%) | $37,000 | Conventional loan |
| Monthly PITI | $1,293 | 6.95% rate, 30yr fixed |
| Required Income (28% rule) | $55,399 | Annual gross |
| Max Affordable Home | $187,649 | Based on median income |
| FHA Down (3.5%) | $6,475 | Minimum FHA |
| Housing Cost % of Income | 27.7% | Median income: $56,000/yr |
| Property Tax Rate | 1.53% | $2,831/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Davenport is $185,000, with a local 30-year mortgage rate of 6.95%. A buyer putting 20% down carries a loan of $148,000, generating a monthly P&I payment of $980. Adding property taxes ($236/mo) and homeowners insurance ($77/mo) brings total monthly PITI to $1,293.
Davenport's property tax rate of 1.53% is near the national average, adding a standard increment to monthly housing costs. On the Davenport median home, that is $236/month, or $2,831 per year.
Iowa levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Davenport should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Davenport's median income of $56,000/year can afford up to $1,307/month in total housing costs. Based on Davenport's mortgage rate of 6.95% and property tax rate of 1.53%, that translates to a maximum affordable home price of approximately $187,649 with 20% down on a 30-year loan.
To afford the median Davenport home priced at $185,000, you need an annual gross income of approximately $55,399. Total monthly housing costs (principal and interest of $980, property taxes of $236, and insurance of $77) come to $1,293/month, which equals 28% of the required income.
At the median home price of $185,000 and median household income of $56,000, the total monthly housing cost of $1,293 represents 27.7% of gross monthly income. This is within the standard 28% guideline, making Davenport relatively accessible at current income levels.
A conventional 20% down payment on the median Davenport home of $185,000 is $37,000. An FHA loan requires just 3.5% down — $6,475 — but adds mortgage insurance of roughly $126/month, bringing total FHA payments to $1,621/month.
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