Total monthly cost of ownership
Cost to Own a Home in Janesville, Iowa
A $215,000 home here costs
$1,919per 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 $82,000 a year.
A standard mortgage calculator would have told you $1,191. The real number is $728 higher every month, 61% more than the payment most buyers budget for.
Compare Black Hawk County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Janesville from a five-year rolling sample, and with about 1,012 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 Black Hawk 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.
Janesville against Black Hawk County and Iowa
| Measure | Janesville | Black Hawk County |
|---|---|---|
| Median home value | $214,700 | $182,400 |
| Median property tax | $3,047 | $2,790 |
| Effective tax rate | 1.419% | 1.530% |
| Median gross rent | $625 | $962 |
| Population | 1,012 | 130,693 |
Janesville extends across 2 counties. Figures here use Black Hawk County, where most of its housing sits.
The weather behind that power bill
Janesville sits in Black Hawk County, which averages a high of 85.0°F in its hottest month and a low of 10.7°F in its coldest, with 36.29" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 917 cooling and 6,714 heating degree days, which is what sets the $133 electricity line above.
See the full climate breakdown for Black Hawk County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Black Hawk County
Full Black Hawk County cost breakdown · Every county in Iowa
Talk to someone who works this market
These are Janesville 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 Janesville every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Janesville I already own here and may sell
Common questions
How much does it cost to own a home in Janesville?
A $215,000 home in Janesville, Iowa costs approximately $1,919 per month with 20% down at 7.4%. That is $1,191 principal and interest, $254 property tax, $94 homeowners insurance, $201 utilities and $179 set aside for maintenance.
What is the property tax rate in Janesville?
Janesville has an effective property tax rate of 1.419%, based on a median home value of $214,700 and median real estate taxes of $3,047. That is lower than the Black Hawk County average of 1.530%.
What is the average home price in Janesville?
The median owner-occupied home value in Janesville, Iowa is $214,700, against $182,400 across Black Hawk County.
Is it cheaper to rent or buy in Janesville?
Median gross rent in Janesville is $625 a month, against $1,919 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 Janesville?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Janesville, Iowa at today's rate takes a household income of roughly $82,000 a year. That covers the full $1,919 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Janesville, 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.