Total monthly cost of ownership
Cost to Own a Home in Earlham, Iowa
A $248,000 home here costs
$2,055per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,275. The real number is $780 higher every month — 61% 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.
Earlham against Madison County and Iowa
| Measure | Earlham | Madison County |
|---|---|---|
| Median home value | $248,400 | $236,900 |
| Median property tax | $3,254 | $3,681 |
| Effective tax rate | 1.310% | 1.554% |
| Median gross rent | $779 | $938 |
| Population | 1,406 | 16,760 |
The weather behind that power bill
Earlham sits in Madison County, which averages a high of 83.8°F in its hottest month and a low of 9.8°F in its coldest, with 34.79" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 738 cooling and 6,870 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Madison County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Madison County
Common questions
How much does it cost to own a home in Earlham?
A $248,000 home in Earlham, Iowa costs approximately $2,055 per month with 20% down at 6.66%. That is $1,275 principal and interest, $271 property tax, $108 homeowners insurance, $195 utilities and $207 set aside for maintenance.
What is the property tax rate in Earlham?
Earlham has an effective property tax rate of 1.310%, based on a median home value of $248,400 and median real estate taxes of $3,254. That is lower than the Madison County average of 1.554%.
What is the average home price in Earlham?
The median owner-occupied home value in Earlham, Iowa is $248,400, against $236,900 across Madison County.
Is it cheaper to rent or buy in Earlham?
Median gross rent in Earlham is $779 a month, against $2,055 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 Earlham — 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.