CALCMONEY // MORTGAGE // IA // IOWA CITY
Calculate your monthly mortgage payment using Iowa City-specific property tax rates and local market data.
$265,000
6.95%
1.45%
90
| Principal & Interest | $1,403 |
| Property Tax | $320 |
| Homeowners Insurance (est.) | $88 |
| Total Monthly Payment (PITI) | $1,812 |
$53,000
$293,199
$77,652/yr
Buying the median home in Iowa City means financing $265,000. Against the area's $68,000 median household income, that works out to a 3.9x price-to-income ratio.
Property taxes in Iowa City run 1.45% of assessed value, above the 1.1% national average. On the median home, that's $3,843 a year, or $320 added to the monthly payment.
Unlike the nine no-income-tax states, Iowa taxes wage income. Worth running your actual take-home pay against the $1,812/month payment here before locking in a target price.
Day-to-day expenses in Iowa City track at 90 against the national 100 baseline, below average once you look past the mortgage payment itself.
Iowa City's median home price runs 18% higher than nearby Des Moines: $225,000 there versus $265,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $212,000 loan saves $9,540 in interest over 30 years.
Compare Top Iowa City Mortgage LendersDes Moines
$225,000 median
IACedar Rapids
$195,000 median
IADavenport
$185,000 median
IASioux City
$175,000 median