Total monthly cost of ownership
Cost to Own a Home in Montezuma, Iowa
A $158,000 home here costs
$1,360per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $812. The real number is $548 higher every month — 67% 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.
Montezuma against Poweshiek County and Iowa
| Measure | Montezuma | Poweshiek County |
|---|---|---|
| Median home value | $157,800 | $184,200 |
| Median property tax | $1,825 | $2,362 |
| Effective tax rate | 1.157% | 1.282% |
| Median gross rent | $843 | $864 |
| Population | 1,257 | 18,582 |
The weather behind that power bill
Montezuma sits in Poweshiek County, which averages a high of 83.3°F in its hottest month and a low of 10.2°F in its coldest, with 38.19" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 692 cooling and 7,038 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Poweshiek County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Poweshiek County
Common questions
How much does it cost to own a home in Montezuma?
A $158,000 home in Montezuma, Iowa costs approximately $1,360 per month with 20% down at 6.66%. That is $812 principal and interest, $152 property tax, $69 homeowners insurance, $195 utilities and $132 set aside for maintenance.
What is the property tax rate in Montezuma?
Montezuma has an effective property tax rate of 1.157%, based on a median home value of $157,800 and median real estate taxes of $1,825. That is lower than the Poweshiek County average of 1.282%.
What is the average home price in Montezuma?
The median owner-occupied home value in Montezuma, Iowa is $157,800, against $184,200 across Poweshiek County.
Is it cheaper to rent or buy in Montezuma?
Median gross rent in Montezuma is $843 a month, against $1,360 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 Montezuma — 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.