Total monthly cost of ownership
Cost to Own a Home in Carter Lake, Iowa
A $161,000 home here costs
$1,450per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $828. The real number is $622 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.
Carter Lake against Pottawattamie County and Iowa
| Measure | Carter Lake | Pottawattamie County |
|---|---|---|
| Median home value | $161,200 | $183,600 |
| Median property tax | $2,679 | $2,961 |
| Effective tax rate | 1.662% | 1.613% |
| Median gross rent | $1,115 | $970 |
| Population | 3,773 | 93,407 |
The weather behind that power bill
Carter Lake sits in Pottawattamie County, which averages a high of 84.7°F in its hottest month and a low of 11.8°F in its coldest, with 36.43" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 914 cooling and 6,555 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Pottawattamie County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Pottawattamie County
Full Pottawattamie County cost breakdown · Every county in Iowa
Common questions
How much does it cost to own a home in Carter Lake?
A $161,000 home in Carter Lake, Iowa costs approximately $1,450 per month with 20% down at 6.66%. That is $828 principal and interest, $223 property tax, $70 homeowners insurance, $195 utilities and $134 set aside for maintenance.
What is the property tax rate in Carter Lake?
Carter Lake has an effective property tax rate of 1.662%, based on a median home value of $161,200 and median real estate taxes of $2,679. That is higher than the Pottawattamie County average of 1.613%.
What is the average home price in Carter Lake?
The median owner-occupied home value in Carter Lake, Iowa is $161,200, against $183,600 across Pottawattamie County.
Is it cheaper to rent or buy in Carter Lake?
Median gross rent in Carter Lake is $1,115 a month, against $1,450 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 Carter Lake — 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.