Total monthly cost of ownership
Cost to Own a Home in Lamoni, Iowa
A $108,000 home here costs
$1,107per 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 $47,500 a year.
A standard mortgage calculator would have told you $589. The real number is $518 higher every month, 88% more than the payment most buyers budget for.
Compare Decatur County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lamoni from a five-year rolling sample, and with about 2,121 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 Decatur 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.
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 $142 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
Talk to someone who works this market
These are Lamoni 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 Lamoni every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lamoni I already own here and may sell
Common questions
How much does it cost to own a home in Lamoni?
A $108,000 home in Lamoni, Iowa costs approximately $1,107 per month with 20% down at 7.24%. That is $589 principal and interest, $171 property tax, $47 homeowners insurance, $210 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 $1,107 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 Lamoni?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lamoni, Iowa at today's rate takes a household income of roughly $47,500 a year. That covers the full $1,107 monthly cost, not just the mortgage payment.
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.