Total monthly cost of ownership
Cost to Own a Home in Glenwood, Iowa
A $194,000 home here costs
$1,720per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $997. The real number is $723 higher every month — 72% 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.
Glenwood against Mills County and Iowa
| Measure | Glenwood | Mills County |
|---|---|---|
| Median home value | $193,800 | $228,700 |
| Median property tax | $3,375 | $3,334 |
| Effective tax rate | 1.741% | 1.458% |
| Median gross rent | $842 | $888 |
| Population | 5,118 | 14,563 |
The weather behind that power bill
Glenwood sits in Mills County, which averages a high of 86.9°F in its hottest month and a low of 12.2°F in its coldest, with 34.8" of precipitation a year and 44% of it in a single three-month stretch. That climate drives 1,070 cooling and 6,188 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Mills County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mills County
Common questions
How much does it cost to own a home in Glenwood?
A $194,000 home in Glenwood, Iowa costs approximately $1,720 per month with 20% down at 6.66%. That is $997 principal and interest, $281 property tax, $84 homeowners insurance, $195 utilities and $162 set aside for maintenance.
What is the property tax rate in Glenwood?
Glenwood has an effective property tax rate of 1.741%, based on a median home value of $193,800 and median real estate taxes of $3,375. That is higher than the Mills County average of 1.458%.
What is the average home price in Glenwood?
The median owner-occupied home value in Glenwood, Iowa is $193,800, against $228,700 across Mills County.
Is it cheaper to rent or buy in Glenwood?
Median gross rent in Glenwood is $842 a month, against $1,720 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 Glenwood — 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.