Total monthly cost of ownership
Cost to Own a Home in Spirit Lake, Iowa
A $218,000 home here costs
$1,785per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,121. The real number is $665 higher every month — 59% 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.
Spirit Lake against Dickinson County and Iowa
| Measure | Spirit Lake | Dickinson County |
|---|---|---|
| Median home value | $218,400 | $251,600 |
| Median property tax | $2,322 | $2,458 |
| Effective tax rate | 1.063% | 0.977% |
| Median gross rent | $885 | $930 |
| Population | 5,469 | 17,844 |
The weather behind that power bill
Spirit Lake sits in Dickinson County, which averages a high of 82.6°F in its hottest month and a low of 7.5°F in its coldest, with 29.5" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 684 cooling and 7,569 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Dickinson County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Dickinson County
Common questions
How much does it cost to own a home in Spirit Lake?
A $218,000 home in Spirit Lake, Iowa costs approximately $1,785 per month with 20% down at 6.66%. That is $1,121 principal and interest, $193 property tax, $95 homeowners insurance, $195 utilities and $182 set aside for maintenance.
What is the property tax rate in Spirit Lake?
Spirit Lake has an effective property tax rate of 1.063%, based on a median home value of $218,400 and median real estate taxes of $2,322. That is higher than the Dickinson County average of 0.977%.
What is the average home price in Spirit Lake?
The median owner-occupied home value in Spirit Lake, Iowa is $218,400, against $251,600 across Dickinson County.
Is it cheaper to rent or buy in Spirit Lake?
Median gross rent in Spirit Lake is $885 a month, against $1,785 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 Spirit Lake — 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.