Total monthly cost of ownership
Cost to Own a Home in North Liberty, Iowa
A $300,000 home here costs
$2,486per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,542. The real number is $944 higher every month — 61% 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.
North Liberty against Johnson County and Iowa
| Measure | North Liberty | Johnson County |
|---|---|---|
| Median home value | $300,000 | $293,100 |
| Median property tax | $4,422 | $4,587 |
| Effective tax rate | 1.474% | 1.565% |
| Median gross rent | $1,226 | $1,104 |
| Population | 20,782 | 154,881 |
The weather behind that power bill
North Liberty sits in Johnson County, which averages a high of 85.8°F in its hottest month and a low of 14.6°F in its coldest, with 35.68" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 1,045 cooling and 6,114 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Johnson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Johnson County
Common questions
How much does it cost to own a home in North Liberty?
A $300,000 home in North Liberty, Iowa costs approximately $2,486 per month with 20% down at 6.66%. That is $1,542 principal and interest, $369 property tax, $131 homeowners insurance, $195 utilities and $250 set aside for maintenance.
What is the property tax rate in North Liberty?
North Liberty has an effective property tax rate of 1.474%, based on a median home value of $300,000 and median real estate taxes of $4,422. That is lower than the Johnson County average of 1.565%.
What is the average home price in North Liberty?
The median owner-occupied home value in North Liberty, Iowa is $300,000, against $293,100 across Johnson County.
Is it cheaper to rent or buy in North Liberty?
Median gross rent in North Liberty is $1,226 a month, against $2,486 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 North Liberty — 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.