Total monthly cost of ownership
Cost to Own a Home in Clear Lake, Iowa
A $235,000 home here costs
$1,965per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,208. The real number is $757 higher every month — 63% 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.
Clear Lake against Cerro Gordo County and Iowa
| Measure | Clear Lake | Cerro Gordo County |
|---|---|---|
| Median home value | $235,100 | $154,100 |
| Median property tax | $3,170 | $2,305 |
| Effective tax rate | 1.348% | 1.496% |
| Median gross rent | $755 | $840 |
| Population | 7,603 | 42,785 |
The weather behind that power bill
Clear Lake sits in Cerro Gordo County, which averages a high of 82.5°F in its hottest month and a low of 7.2°F in its coldest, with 36.25" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 603 cooling and 7,647 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Cerro Gordo County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cerro Gordo County
Full Cerro Gordo County cost breakdown · Every county in Iowa
Common questions
How much does it cost to own a home in Clear Lake?
A $235,000 home in Clear Lake, Iowa costs approximately $1,965 per month with 20% down at 6.66%. That is $1,208 principal and interest, $264 property tax, $102 homeowners insurance, $195 utilities and $196 set aside for maintenance.
What is the property tax rate in Clear Lake?
Clear Lake has an effective property tax rate of 1.348%, based on a median home value of $235,100 and median real estate taxes of $3,170. That is lower than the Cerro Gordo County average of 1.496%.
What is the average home price in Clear Lake?
The median owner-occupied home value in Clear Lake, Iowa is $235,100, against $154,100 across Cerro Gordo County.
Is it cheaper to rent or buy in Clear Lake?
Median gross rent in Clear Lake is $755 a month, against $1,965 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 Clear 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.