Total monthly cost of ownership
Cost to Own a Home in Solon, Iowa
A $305,000 home here costs
$2,532per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,568. The real number is $964 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.
Solon against Johnson County and Iowa
| Measure | Solon | Johnson County |
|---|---|---|
| Median home value | $305,300 | $293,100 |
| Median property tax | $4,592 | $4,587 |
| Effective tax rate | 1.504% | 1.565% |
| Median gross rent | $1,166 | $1,104 |
| Population | 3,092 | 154,881 |
The weather behind that power bill
Solon 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 Solon?
A $305,000 home in Solon, Iowa costs approximately $2,532 per month with 20% down at 6.66%. That is $1,568 principal and interest, $382 property tax, $133 homeowners insurance, $195 utilities and $254 set aside for maintenance.
What is the property tax rate in Solon?
Solon has an effective property tax rate of 1.504%, based on a median home value of $305,300 and median real estate taxes of $4,592. That is lower than the Johnson County average of 1.565%.
What is the average home price in Solon?
The median owner-occupied home value in Solon, Iowa is $305,300, against $293,100 across Johnson County.
Is it cheaper to rent or buy in Solon?
Median gross rent in Solon is $1,166 a month, against $2,532 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 Solon — 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.