Total monthly cost of ownership
Cost to Own a Home in Lenox, Iowa
A $106,000 home here costs
$995per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $545. The real number is $450 higher every month — 83% 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.
Lenox against Taylor County and Iowa
| Measure | Lenox | Taylor County |
|---|---|---|
| Median home value | $106,000 | $109,700 |
| Median property tax | $1,448 | $1,329 |
| Effective tax rate | 1.366% | 1.211% |
| Median gross rent | $759 | $707 |
| Population | 1,474 | 5,901 |
Lenox extends across 2 counties. Figures here use Taylor County, where most of its housing sits.
The weather behind that power bill
Lenox sits in Taylor County, which averages a high of 85.6°F in its hottest month and a low of 12.4°F in its coldest, with 38.43" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 990 cooling and 6,294 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Taylor County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Taylor County
Common questions
How much does it cost to own a home in Lenox?
A $106,000 home in Lenox, Iowa costs approximately $995 per month with 20% down at 6.66%. That is $545 principal and interest, $121 property tax, $46 homeowners insurance, $195 utilities and $88 set aside for maintenance.
What is the property tax rate in Lenox?
Lenox has an effective property tax rate of 1.366%, based on a median home value of $106,000 and median real estate taxes of $1,448. That is higher than the Taylor County average of 1.211%.
What is the average home price in Lenox?
The median owner-occupied home value in Lenox, Iowa is $106,000, against $109,700 across Taylor County.
Is it cheaper to rent or buy in Lenox?
Median gross rent in Lenox is $759 a month, against $995 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 Lenox — 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.