Total monthly cost of ownership
Cost to Own a Home in New Hampton, Iowa
A $159,000 home here costs
$1,435per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $61,500 a year.
A standard mortgage calculator would have told you $867. The real number is $568 higher every month, 65% more than the payment most buyers budget for.
Compare Chickasaw County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for New Hampton from a five-year rolling sample, and with about 3,462 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Chickasaw County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
New Hampton against Chickasaw County and Iowa
| Measure | New Hampton | Chickasaw County |
|---|---|---|
| Median home value | $159,200 | $164,400 |
| Median property tax | $1,876 | $1,804 |
| Effective tax rate | 1.178% | 1.097% |
| Median gross rent | $838 | $779 |
| Population | 3,462 | 11,868 |
The weather behind that power bill
New Hampton sits in Chickasaw County, which averages a high of 80.8°F in its hottest month and a low of 5.5°F in its coldest, with 40.57" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 521 cooling and 7,872 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Chickasaw County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Chickasaw County
Talk to someone who works this market
These are New Hampton averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works New Hampton every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in New Hampton I already own here and may sell
Common questions
How much does it cost to own a home in New Hampton?
A $159,000 home in New Hampton, Iowa costs approximately $1,435 per month with 20% down at 7.24%. That is $867 principal and interest, $156 property tax, $69 homeowners insurance, $210 utilities and $133 set aside for maintenance.
What is the property tax rate in New Hampton?
New Hampton has an effective property tax rate of 1.178%, based on a median home value of $159,200 and median real estate taxes of $1,876. That is higher than the Chickasaw County average of 1.097%.
What is the average home price in New Hampton?
The median owner-occupied home value in New Hampton, Iowa is $159,200, against $164,400 across Chickasaw County.
Is it cheaper to rent or buy in New Hampton?
Median gross rent in New Hampton is $838 a month, against $1,435 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in New Hampton?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in New Hampton, Iowa at today's rate takes a household income of roughly $61,500 a year. That covers the full $1,435 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for New Hampton, 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.