Total monthly cost of ownership
Cost to Own a Home in Central City, Iowa
A $166,000 home here costs
$1,480per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $853. The real number is $627 higher every month — 73% 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.
Central City against Linn County and Iowa
| Measure | Central City | Linn County |
|---|---|---|
| Median home value | $166,400 | $204,400 |
| Median property tax | $2,661 | $3,396 |
| Effective tax rate | 1.599% | 1.661% |
| Median gross rent | $715 | $915 |
| Population | 1,266 | 229,463 |
The weather behind that power bill
Central City sits in Linn County, which averages a high of 85.5°F in its hottest month and a low of 12.5°F in its coldest, with 38.75" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 918 cooling and 6,384 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Linn County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Linn County
Common questions
How much does it cost to own a home in Central City?
A $166,000 home in Central City, Iowa costs approximately $1,480 per month with 20% down at 6.66%. That is $853 principal and interest, $221 property tax, $72 homeowners insurance, $195 utilities and $138 set aside for maintenance.
What is the property tax rate in Central City?
Central City has an effective property tax rate of 1.599%, based on a median home value of $166,400 and median real estate taxes of $2,661. That is lower than the Linn County average of 1.661%.
What is the average home price in Central City?
The median owner-occupied home value in Central City, Iowa is $166,400, against $204,400 across Linn County.
Is it cheaper to rent or buy in Central City?
Median gross rent in Central City is $715 a month, against $1,480 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 Central City — 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.