Total monthly cost of ownership
Cost to Own a Home in Farley, Iowa
A $243,000 home here costs
$2,103per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $90,000 a year.
A standard mortgage calculator would have told you $1,346. The real number is $757 higher every month, 56% more than the payment most buyers budget for.
Compare Dubuque County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Farley from a five-year rolling sample, and with about 1,809 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 Dubuque 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.
Farley against Dubuque County and Iowa
| Measure | Farley | Dubuque County |
|---|---|---|
| Median home value | $242,600 | $226,100 |
| Median property tax | $2,970 | $2,848 |
| Effective tax rate | 1.224% | 1.260% |
| Median gross rent | $893 | $944 |
| Population | 1,809 | 98,948 |
The weather behind that power bill
Farley sits in Dubuque County, which averages a high of 81.5°F in its hottest month and a low of 11.1°F in its coldest, with 38.2" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 638 cooling and 7,084 heating degree days, which is what sets the $133 electricity line above.
See the full climate breakdown for Dubuque County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Dubuque County
Talk to someone who works this market
These are Farley 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 Farley every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Farley I already own here and may sell
Common questions
How much does it cost to own a home in Farley?
A $243,000 home in Farley, Iowa costs approximately $2,103 per month with 20% down at 7.4%. That is $1,346 principal and interest, $248 property tax, $106 homeowners insurance, $201 utilities and $203 set aside for maintenance.
What is the property tax rate in Farley?
Farley has an effective property tax rate of 1.224%, based on a median home value of $242,600 and median real estate taxes of $2,970. That is lower than the Dubuque County average of 1.260%.
What is the average home price in Farley?
The median owner-occupied home value in Farley, Iowa is $242,600, against $226,100 across Dubuque County.
Is it cheaper to rent or buy in Farley?
Median gross rent in Farley is $893 a month, against $2,103 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 Farley?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Farley, Iowa at today's rate takes a household income of roughly $90,000 a year. That covers the full $2,103 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Farley, 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.