Total monthly cost of ownership
Cost to Own a Home in Granger, Iowa
A $290,000 home here costs
$2,567per 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 $110,000 a year.
A standard mortgage calculator would have told you $1,581. The real number is $986 higher every month, 62% more than the payment most buyers budget for.
Compare Polk County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Granger from a five-year rolling sample, and with about 1,919 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 Polk 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.
Granger against Polk County and Iowa
| Measure | Granger | Polk County |
|---|---|---|
| Median home value | $290,100 | $248,400 |
| Median property tax | $4,906 | $4,364 |
| Effective tax rate | 1.691% | 1.757% |
| Median gross rent | $923 | $1,113 |
| Population | 1,919 | 497,441 |
Granger extends across 2 counties. Figures here use Polk County, where most of its housing sits.
The weather behind that power bill
Granger sits in Polk County, which averages a high of 85.7°F in its hottest month and a low of 11.7°F in its coldest, with 37.05" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 958 cooling and 6,547 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Polk County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Polk County
Talk to someone who works this market
These are Granger 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 Granger every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Granger I already own here and may sell
Common questions
How much does it cost to own a home in Granger?
A $290,000 home in Granger, Iowa costs approximately $2,567 per month with 20% down at 7.24%. That is $1,581 principal and interest, $409 property tax, $126 homeowners insurance, $210 utilities and $242 set aside for maintenance.
What is the property tax rate in Granger?
Granger has an effective property tax rate of 1.691%, based on a median home value of $290,100 and median real estate taxes of $4,906. That is lower than the Polk County average of 1.757%.
What is the average home price in Granger?
The median owner-occupied home value in Granger, Iowa is $290,100, against $248,400 across Polk County.
Is it cheaper to rent or buy in Granger?
Median gross rent in Granger is $923 a month, against $2,567 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 Granger?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Granger, Iowa at today's rate takes a household income of roughly $110,000 a year. That covers the full $2,567 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Granger, 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.