Total monthly cost of ownership
Cost to Own a Home in Grace, Idaho
A $180,000 home here costs
$1,465per 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 $63,000 a year.
A standard mortgage calculator would have told you $981. The real number is $483 higher every month, 49% more than the payment most buyers budget for.
Compare Caribou County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Grace from a five-year rolling sample, and with about 1,345 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 Caribou 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.
Grace against Caribou County and Idaho
| Measure | Grace | Caribou County |
|---|---|---|
| Median home value | $180,300 | $220,200 |
| Median property tax | $1,253 | $1,330 |
| Effective tax rate | 0.695% | 0.604% |
| Median gross rent | $271 | $800 |
| Population | 1,345 | 7,118 |
The weather behind that power bill
Grace sits in Caribou County, which averages a high of 86.8°F in its hottest month and a low of 10.0°F in its coldest, with 15.72" of precipitation a year and 33% of it in a single three-month stretch. That climate drives 180 cooling and 8,396 heating degree days, which is what sets the $126 electricity line above.
See the full climate breakdown for Caribou County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Caribou County
Talk to someone who works this market
These are Grace 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 Grace 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 Grace?
A $180,000 home in Grace, Idaho costs approximately $1,465 per month with 20% down at 7.24%. That is $981 principal and interest, $104 property tax, $35 homeowners insurance, $194 utilities and $150 set aside for maintenance.
What is the property tax rate in Grace?
Grace has an effective property tax rate of 0.695%, based on a median home value of $180,300 and median real estate taxes of $1,253. That is higher than the Caribou County average of 0.604%.
What is the average home price in Grace?
The median owner-occupied home value in Grace, Idaho is $180,300, against $220,200 across Caribou County.
Is it cheaper to rent or buy in Grace?
Median gross rent in Grace is $271 a month, against $1,465 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 Grace?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Grace, Idaho at today's rate takes a household income of roughly $63,000 a year. That covers the full $1,465 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Grace, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Idaho.
- 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.