Total monthly cost of ownership
Cost to Own a Home in Allison, Iowa
A $105,000 home here costs
$1,062per 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 $45,500 a year.
A standard mortgage calculator would have told you $572. The real number is $489 higher every month, 85% more than the payment most buyers budget for.
Compare Butler County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Allison from a five-year rolling sample, and with about 1,028 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Butler County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Allison against Butler County and Iowa
| Measure | Allison | Butler County |
|---|---|---|
| Median home value | $104,600 | $156,500 |
| Median property tax | $1,747 | $2,158 |
| Effective tax rate | 1.670% | 1.379% |
| Median gross rent | $619 | $780 |
| Population | 1,028 | 14,301 |
The weather behind that power bill
Allison sits in Butler County, which averages a high of 82.7°F in its hottest month and a low of 7.5°F in its coldest, with 35.4" of precipitation a year and 42% of it in a single three-month stretch. That climate drives 711 cooling and 7,358 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Butler County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Butler County
Talk to someone who works this market
These are Allison 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 Allison every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Allison I already own here and may sell
Common questions
How much does it cost to own a home in Allison?
A $105,000 home in Allison, Iowa costs approximately $1,062 per month with 20% down at 7.24%. That is $572 principal and interest, $146 property tax, $46 homeowners insurance, $210 utilities and $88 set aside for maintenance.
What is the property tax rate in Allison?
Allison has an effective property tax rate of 1.670%, based on a median home value of $104,600 and median real estate taxes of $1,747. That is higher than the Butler County average of 1.379%.
What is the average home price in Allison?
The median owner-occupied home value in Allison, Iowa is $104,600, against $156,500 across Butler County.
Is it cheaper to rent or buy in Allison?
Median gross rent in Allison is $619 a month, against $1,062 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 Allison?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Allison, Iowa at today's rate takes a household income of roughly $45,500 a year. That covers the full $1,062 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Allison, 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.