Total monthly cost of ownership
Cost to Own a Home in Bloomfield, Iowa
A $123,000 home here costs
$1,244per 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 $53,500 a year.
A standard mortgage calculator would have told you $671. The real number is $574 higher every month, 86% more than the payment most buyers budget for.
Compare Davis County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Bloomfield from a five-year rolling sample, and with about 2,723 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 Davis 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.
Bloomfield against Davis County and Iowa
| Measure | Bloomfield | Davis County |
|---|---|---|
| Median home value | $122,600 | $146,000 |
| Median property tax | $2,485 | $2,217 |
| Effective tax rate | 2.027% | 1.518% |
| Median gross rent | $918 | $878 |
| Population | 2,723 | 9,127 |
The weather behind that power bill
Bloomfield sits in Davis County, which averages a high of 85.5°F in its hottest month and a low of 14.8°F in its coldest, with 39.1" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 1,044 cooling and 6,035 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Davis County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Davis County
No other places of this size are published in Davis County.
Talk to someone who works this market
These are Bloomfield 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 Bloomfield every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Bloomfield I already own here and may sell
Common questions
How much does it cost to own a home in Bloomfield?
A $123,000 home in Bloomfield, Iowa costs approximately $1,244 per month with 20% down at 7.24%. That is $671 principal and interest, $208 property tax, $54 homeowners insurance, $210 utilities and $103 set aside for maintenance.
What is the property tax rate in Bloomfield?
Bloomfield has an effective property tax rate of 2.027%, based on a median home value of $122,600 and median real estate taxes of $2,485. That is higher than the Davis County average of 1.518%.
What is the average home price in Bloomfield?
The median owner-occupied home value in Bloomfield, Iowa is $122,600, against $146,000 across Davis County.
Is it cheaper to rent or buy in Bloomfield?
Median gross rent in Bloomfield is $918 a month, against $1,244 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 Bloomfield?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Bloomfield, Iowa at today's rate takes a household income of roughly $53,500 a year. That covers the full $1,244 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Bloomfield, 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.