Total monthly cost of ownership
Cost to Own a Home in Panora, Iowa
A $165,000 home here costs
$1,462per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $848. The real number is $614 higher every month — 72% 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.
Panora against Guthrie County and Iowa
| Measure | Panora | Guthrie County |
|---|---|---|
| Median home value | $164,500 | $163,900 |
| Median property tax | $2,509 | $2,172 |
| Effective tax rate | 1.525% | 1.325% |
| Median gross rent | $965 | $823 |
| Population | 1,520 | 10,646 |
The weather behind that power bill
Panora sits in Guthrie County, which averages a high of 85.1°F in its hottest month and a low of 9.6°F in its coldest, with 37.14" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 843 cooling and 6,850 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Guthrie County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Guthrie County
Common questions
How much does it cost to own a home in Panora?
A $165,000 home in Panora, Iowa costs approximately $1,462 per month with 20% down at 6.66%. That is $848 principal and interest, $210 property tax, $72 homeowners insurance, $195 utilities and $138 set aside for maintenance.
What is the property tax rate in Panora?
Panora has an effective property tax rate of 1.525%, based on a median home value of $164,500 and median real estate taxes of $2,509. That is higher than the Guthrie County average of 1.325%.
What is the average home price in Panora?
The median owner-occupied home value in Panora, Iowa is $164,500, against $163,900 across Guthrie County.
Is it cheaper to rent or buy in Panora?
Median gross rent in Panora is $965 a month, against $1,462 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 Panora — 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.