Total monthly cost of ownership
Cost to Own a Home in Cherokee, Iowa
A $119,000 home here costs
$1,092per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $612. The real number is $480 higher every month — 78% 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.
Cherokee against Cherokee County and Iowa
| Measure | Cherokee | Cherokee County |
|---|---|---|
| Median home value | $119,400 | $145,100 |
| Median property tax | $1,611 | $1,561 |
| Effective tax rate | 1.349% | 1.076% |
| Median gross rent | $707 | $711 |
| Population | 5,157 | 11,587 |
The weather behind that power bill
Cherokee sits in Cherokee County, which averages a high of 84.3°F in its hottest month and a low of 7.1°F in its coldest, with 31.19" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 755 cooling and 7,404 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Cherokee County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cherokee County
Common questions
How much does it cost to own a home in Cherokee?
A $119,000 home in Cherokee, Iowa costs approximately $1,092 per month with 20% down at 6.66%. That is $612 principal and interest, $134 property tax, $52 homeowners insurance, $195 utilities and $99 set aside for maintenance.
What is the property tax rate in Cherokee?
Cherokee has an effective property tax rate of 1.349%, based on a median home value of $119,400 and median real estate taxes of $1,611. That is higher than the Cherokee County average of 1.076%.
What is the average home price in Cherokee?
The median owner-occupied home value in Cherokee, Iowa is $119,400, against $145,100 across Cherokee County.
Is it cheaper to rent or buy in Cherokee?
Median gross rent in Cherokee is $707 a month, against $1,092 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 Cherokee — 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.