Total monthly cost of ownership
Cost to Own a Home in Monona, Iowa
A $126,000 home here costs
$1,161per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $648. The real number is $513 higher every month — 79% 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.
Monona against Clayton County and Iowa
| Measure | Monona | Clayton County |
|---|---|---|
| Median home value | $125,900 | $155,700 |
| Median property tax | $1,895 | $2,149 |
| Effective tax rate | 1.505% | 1.380% |
| Median gross rent | $1,000 | $764 |
| Population | 1,618 | 17,069 |
The weather behind that power bill
Monona sits in Clayton County, which averages a high of 82.2°F in its hottest month and a low of 6.3°F in its coldest, with 38.8" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 582 cooling and 7,512 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Clayton County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Clayton County
Common questions
How much does it cost to own a home in Monona?
A $126,000 home in Monona, Iowa costs approximately $1,161 per month with 20% down at 6.66%. That is $648 principal and interest, $158 property tax, $55 homeowners insurance, $195 utilities and $105 set aside for maintenance.
What is the property tax rate in Monona?
Monona has an effective property tax rate of 1.505%, based on a median home value of $125,900 and median real estate taxes of $1,895. That is higher than the Clayton County average of 1.380%.
What is the average home price in Monona?
The median owner-occupied home value in Monona, Iowa is $125,900, against $155,700 across Clayton County.
Is it cheaper to rent or buy in Monona?
Median gross rent in Monona is $1,000 a month, against $1,161 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 Monona — 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.