Total monthly cost of ownership
Cost to Own a Home in Boone, Iowa
A $156,000 home here costs
$1,407per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $802. The real number is $605 higher every month — 75% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Boone against Boone County and Iowa
| Measure | Boone | Boone County |
|---|---|---|
| Median home value | $156,400 | $191,200 |
| Median property tax | $2,551 | $2,741 |
| Effective tax rate | 1.631% | 1.434% |
| Median gross rent | $791 | $826 |
| Population | 12,445 | 26,669 |
The weather behind that power bill
Boone sits in Boone County, which averages a high of 84.2°F in its hottest month and a low of 9.1°F in its coldest, with 39.14" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 799 cooling and 6,921 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Boone County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Boone County
Common questions
How much does it cost to own a home in Boone?
A $156,000 home in Boone, Iowa costs approximately $1,407 per month with 20% down at 6.66%. That is $802 principal and interest, $212 property tax, $68 homeowners insurance, $195 utilities and $130 set aside for maintenance.
What is the property tax rate in Boone?
Boone has an effective property tax rate of 1.631%, based on a median home value of $156,400 and median real estate taxes of $2,551. That is higher than the Boone County average of 1.434%.
What is the average home price in Boone?
The median owner-occupied home value in Boone, Iowa is $156,400, against $191,200 across Boone County.
Is it cheaper to rent or buy in Boone?
Median gross rent in Boone is $791 a month, against $1,407 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Boone — 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.