Total monthly cost of ownership
Cost to Own a Home in Algona, Iowa
A $156,000 home here costs
$1,438per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $61,500 a year.
A standard mortgage calculator would have told you $851. The real number is $588 higher every month, 69% more than the payment most buyers budget for.
Compare Kossuth County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Algona against Kossuth County and Iowa
| Measure | Algona | Kossuth County |
|---|---|---|
| Median home value | $156,200 | $135,100 |
| Median property tax | $2,163 | $1,437 |
| Effective tax rate | 1.385% | 1.064% |
| Median gross rent | $887 | $859 |
| Population | 5,414 | 14,610 |
The weather behind that power bill
Algona sits in Kossuth County, which averages a high of 83.1°F in its hottest month and a low of 6.0°F in its coldest, with 34.09" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 670 cooling and 7,569 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Kossuth County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kossuth County
No other places of this size are published in Kossuth County.
Talk to someone who works this market
These are Algona averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Algona every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Algona I already own here and may sell
Common questions
How much does it cost to own a home in Algona?
A $156,000 home in Algona, Iowa costs approximately $1,438 per month with 20% down at 7.24%. That is $851 principal and interest, $180 property tax, $68 homeowners insurance, $210 utilities and $130 set aside for maintenance.
What is the property tax rate in Algona?
Algona has an effective property tax rate of 1.385%, based on a median home value of $156,200 and median real estate taxes of $2,163. That is higher than the Kossuth County average of 1.064%.
What is the average home price in Algona?
The median owner-occupied home value in Algona, Iowa is $156,200, against $135,100 across Kossuth County.
Is it cheaper to rent or buy in Algona?
Median gross rent in Algona is $887 a month, against $1,438 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Algona?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Algona, Iowa at today's rate takes a household income of roughly $61,500 a year. That covers the full $1,438 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Algona, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Iowa.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.