Total monthly cost of ownership
Cost to Own a Home in Dike, Iowa
A $236,000 home here costs
$2,088per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $89,500 a year.
A standard mortgage calculator would have told you $1,287. The real number is $802 higher every month, 62% more than the payment most buyers budget for.
Compare Grundy County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Dike from a five-year rolling sample, and with about 1,258 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Grundy County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Dike against Grundy County and Iowa
| Measure | Dike | Grundy County |
|---|---|---|
| Median home value | $235,900 | $180,500 |
| Median property tax | $3,508 | $1,929 |
| Effective tax rate | 1.487% | 1.069% |
| Median gross rent | $708 | $777 |
| Population | 1,258 | 12,352 |
The weather behind that power bill
Dike sits in Grundy County, which averages a high of 82.9°F in its hottest month and a low of 8.7°F in its coldest, with 36.82" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 730 cooling and 7,227 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Grundy County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Grundy County
Talk to someone who works this market
These are Dike averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Dike every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Dike?
A $236,000 home in Dike, Iowa costs approximately $2,088 per month with 20% down at 7.24%. That is $1,287 principal and interest, $292 property tax, $103 homeowners insurance, $210 utilities and $197 set aside for maintenance.
What is the property tax rate in Dike?
Dike has an effective property tax rate of 1.487%, based on a median home value of $235,900 and median real estate taxes of $3,508. That is higher than the Grundy County average of 1.069%.
What is the average home price in Dike?
The median owner-occupied home value in Dike, Iowa is $235,900, against $180,500 across Grundy County.
Is it cheaper to rent or buy in Dike?
Median gross rent in Dike is $708 a month, against $2,088 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Dike?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Dike, Iowa at today's rate takes a household income of roughly $89,500 a year. That covers the full $2,088 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Dike, 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.