Total monthly cost of ownership
Cost to Own a Home in Nevada, Iowa
A $178,000 home here costs
$1,559per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $915. The real number is $644 higher every month — 70% 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.
Nevada against Story County and Iowa
| Measure | Nevada | Story County |
|---|---|---|
| Median home value | $177,800 | $243,600 |
| Median property tax | $2,673 | $3,586 |
| Effective tax rate | 1.503% | 1.472% |
| Median gross rent | $884 | $1,019 |
| Population | 6,952 | 98,592 |
The weather behind that power bill
Nevada sits in Story County, which averages a high of 83.9°F in its hottest month and a low of 10.9°F in its coldest, with 35.91" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 786 cooling and 6,748 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Story County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Story County
Common questions
How much does it cost to own a home in Nevada?
A $178,000 home in Nevada, Iowa costs approximately $1,559 per month with 20% down at 6.66%. That is $915 principal and interest, $223 property tax, $77 homeowners insurance, $195 utilities and $148 set aside for maintenance.
What is the property tax rate in Nevada?
Nevada has an effective property tax rate of 1.503%, based on a median home value of $177,800 and median real estate taxes of $2,673. That is higher than the Story County average of 1.472%.
What is the average home price in Nevada?
The median owner-occupied home value in Nevada, Iowa is $177,800, against $243,600 across Story County.
Is it cheaper to rent or buy in Nevada?
Median gross rent in Nevada is $884 a month, against $1,559 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 Nevada — 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.