Total monthly cost of ownership
Cost to Own a Home in Iola, Kansas
A $78,000 home here costs
$835per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $401. The real number is $434 higher every month — 108% 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.
Iola against Allen County and Kansas
| Measure | Iola | Allen County |
|---|---|---|
| Median home value | $78,100 | $100,400 |
| Median property tax | $1,441 | $1,659 |
| Effective tax rate | 1.845% | 1.652% |
| Median gross rent | $689 | $685 |
| Population | 5,368 | 12,491 |
The weather behind that power bill
Iola sits in Allen County, which averages a high of 88.5°F in its hottest month and a low of 20.3°F in its coldest, with 42.04" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 1,440 cooling and 4,734 heating degree days, which is what sets the $136 electricity line above.
See the full climate breakdown for Allen County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Allen County
Common questions
How much does it cost to own a home in Iola?
A $78,000 home in Iola, Kansas costs approximately $835 per month with 20% down at 6.66%. That is $401 principal and interest, $120 property tax, $46 homeowners insurance, $204 utilities and $65 set aside for maintenance.
What is the property tax rate in Iola?
Iola has an effective property tax rate of 1.845%, based on a median home value of $78,100 and median real estate taxes of $1,441. That is higher than the Allen County average of 1.652%.
What is the average home price in Iola?
The median owner-occupied home value in Iola, Kansas is $78,100, against $100,400 across Allen County.
Is it cheaper to rent or buy in Iola?
Median gross rent in Iola is $689 a month, against $835 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 Iola — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Kansas.
- 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.