Total monthly cost of ownership
Cost to Own a Home in Mason City, Iowa
A $130,000 home here costs
$1,208per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $668. The real number is $539 higher every month — 81% 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.
Mason City against Cerro Gordo County and Iowa
| Measure | Mason City | Cerro Gordo County |
|---|---|---|
| Median home value | $130,000 | $154,100 |
| Median property tax | $2,153 | $2,305 |
| Effective tax rate | 1.656% | 1.496% |
| Median gross rent | $874 | $840 |
| Population | 27,135 | 42,785 |
The weather behind that power bill
Mason City sits in Cerro Gordo County, which averages a high of 82.5°F in its hottest month and a low of 7.2°F in its coldest, with 36.25" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 603 cooling and 7,647 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Cerro Gordo County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cerro Gordo County
Full Cerro Gordo County cost breakdown · Every county in Iowa
Common questions
How much does it cost to own a home in Mason City?
A $130,000 home in Mason City, Iowa costs approximately $1,208 per month with 20% down at 6.66%. That is $668 principal and interest, $179 property tax, $57 homeowners insurance, $195 utilities and $108 set aside for maintenance.
What is the property tax rate in Mason City?
Mason City has an effective property tax rate of 1.656%, based on a median home value of $130,000 and median real estate taxes of $2,153. That is higher than the Cerro Gordo County average of 1.496%.
What is the average home price in Mason City?
The median owner-occupied home value in Mason City, Iowa is $130,000, against $154,100 across Cerro Gordo County.
Is it cheaper to rent or buy in Mason City?
Median gross rent in Mason City is $874 a month, against $1,208 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 Mason City — 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.