Total monthly cost of ownership
Cost to Own a Home in New Sharon, Iowa
A $125,000 home here costs
$1,157per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $643. The real number is $514 higher every month — 80% 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.
New Sharon against Mahaska County and Iowa
| Measure | New Sharon | Mahaska County |
|---|---|---|
| Median home value | $125,000 | $140,900 |
| Median property tax | $1,927 | $1,956 |
| Effective tax rate | 1.542% | 1.388% |
| Median gross rent | $564 | $821 |
| Population | 1,147 | 22,045 |
The weather behind that power bill
New Sharon sits in Mahaska County, which averages a high of 85.5°F in its hottest month and a low of 12.2°F in its coldest, with 38.72" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 958 cooling and 6,366 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Mahaska County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mahaska County
Common questions
How much does it cost to own a home in New Sharon?
A $125,000 home in New Sharon, Iowa costs approximately $1,157 per month with 20% down at 6.66%. That is $643 principal and interest, $161 property tax, $54 homeowners insurance, $195 utilities and $104 set aside for maintenance.
What is the property tax rate in New Sharon?
New Sharon has an effective property tax rate of 1.542%, based on a median home value of $125,000 and median real estate taxes of $1,927. That is higher than the Mahaska County average of 1.388%.
What is the average home price in New Sharon?
The median owner-occupied home value in New Sharon, Iowa is $125,000, against $140,900 across Mahaska County.
Is it cheaper to rent or buy in New Sharon?
Median gross rent in New Sharon is $564 a month, against $1,157 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 New Sharon — 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.