Total monthly cost of ownership
Cost to Own a Home in Ankeny, Iowa
A $311,000 home here costs
$2,774per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $119,000 a year.
A standard mortgage calculator would have told you $1,723. The real number is $1,051 higher every month, 61% more than the payment most buyers budget for.
Compare Polk 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.
Ankeny against Polk County and Iowa
| Measure | Ankeny | Polk County |
|---|---|---|
| Median home value | $311,300 | $248,400 |
| Median property tax | $5,475 | $4,364 |
| Effective tax rate | 1.759% | 1.757% |
| Median gross rent | $1,279 | $1,113 |
| Population | 70,542 | 497,441 |
The weather behind that power bill
Ankeny sits in Polk County, which averages a high of 85.7°F in its hottest month and a low of 11.7°F in its coldest, with 37.05" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 958 cooling and 6,547 heating degree days, which is what sets the $133 electricity line above.
See the full climate breakdown for Polk County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Polk County
Talk to someone who works this market
These are Ankeny 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 Ankeny every week. Free, no obligation, and we never sell your details to a list.
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Common questions
How much does it cost to own a home in Ankeny?
A $311,000 home in Ankeny, Iowa costs approximately $2,774 per month with 20% down at 7.4%. That is $1,723 principal and interest, $456 property tax, $135 homeowners insurance, $201 utilities and $259 set aside for maintenance.
What is the property tax rate in Ankeny?
Ankeny has an effective property tax rate of 1.759%, based on a median home value of $311,300 and median real estate taxes of $5,475. That is in line with the Polk County average of 1.757%.
What is the average home price in Ankeny?
The median owner-occupied home value in Ankeny, Iowa is $311,300, against $248,400 across Polk County.
Is it cheaper to rent or buy in Ankeny?
Median gross rent in Ankeny is $1,279 a month, against $2,774 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 Ankeny?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Ankeny, Iowa at today's rate takes a household income of roughly $119,000 a year. That covers the full $2,774 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Ankeny, 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.