Total monthly cost of ownership
Cost to Own a Home in Clarence, Iowa
A $138,000 home here costs
$1,224per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $709. The real number is $515 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.
Clarence against Cedar County and Iowa
| Measure | Clarence | Cedar County |
|---|---|---|
| Median home value | $137,800 | $199,700 |
| Median property tax | $1,734 | $2,433 |
| Effective tax rate | 1.258% | 1.218% |
| Median gross rent | $925 | $860 |
| Population | 1,223 | 18,427 |
The weather behind that power bill
Clarence sits in Cedar County, which averages a high of 83.7°F in its hottest month and a low of 11.9°F in its coldest, with 36.49" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 882 cooling and 6,573 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Cedar County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cedar County
Common questions
How much does it cost to own a home in Clarence?
A $138,000 home in Clarence, Iowa costs approximately $1,224 per month with 20% down at 6.66%. That is $709 principal and interest, $145 property tax, $60 homeowners insurance, $195 utilities and $115 set aside for maintenance.
What is the property tax rate in Clarence?
Clarence has an effective property tax rate of 1.258%, based on a median home value of $137,800 and median real estate taxes of $1,734. That is higher than the Cedar County average of 1.218%.
What is the average home price in Clarence?
The median owner-occupied home value in Clarence, Iowa is $137,800, against $199,700 across Cedar County.
Is it cheaper to rent or buy in Clarence?
Median gross rent in Clarence is $925 a month, against $1,224 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 Clarence — 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.