Total monthly cost of ownership
Cost to Own a Home in Lamoni, Iowa
A $108,000 home here costs
$1,059per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $555. The real number is $503 higher every month — 91% 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.
Lamoni against Decatur County and Iowa
| Measure | Lamoni | Decatur County |
|---|---|---|
| Median home value | $107,900 | $109,500 |
| Median property tax | $2,053 | $1,856 |
| Effective tax rate | 1.903% | 1.695% |
| Median gross rent | $676 | $663 |
| Population | 2,121 | 7,669 |
The weather behind that power bill
Lamoni sits in Decatur County, which averages a high of 85.4°F in its hottest month and a low of 15.6°F in its coldest, with 37.38" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 1,038 cooling and 5,895 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Decatur County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Decatur County
Common questions
How much does it cost to own a home in Lamoni?
A $108,000 home in Lamoni, Iowa costs approximately $1,059 per month with 20% down at 6.66%. That is $555 principal and interest, $171 property tax, $47 homeowners insurance, $195 utilities and $90 set aside for maintenance.
What is the property tax rate in Lamoni?
Lamoni has an effective property tax rate of 1.903%, based on a median home value of $107,900 and median real estate taxes of $2,053. That is higher than the Decatur County average of 1.695%.
What is the average home price in Lamoni?
The median owner-occupied home value in Lamoni, Iowa is $107,900, against $109,500 across Decatur County.
Is it cheaper to rent or buy in Lamoni?
Median gross rent in Lamoni is $676 a month, against $1,059 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 Lamoni — 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.