Total monthly cost of ownership
Cost to Own a Home in Toledo, Iowa
A $124,000 home here costs
$1,176per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $637. The real number is $538 higher every month — 84% 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.
Toledo against Tama County and Iowa
| Measure | Toledo | Tama County |
|---|---|---|
| Median home value | $124,000 | $139,900 |
| Median property tax | $2,232 | $1,945 |
| Effective tax rate | 1.800% | 1.390% |
| Median gross rent | $958 | $865 |
| Population | 2,079 | 16,982 |
The weather behind that power bill
Toledo sits in Tama County, which averages a high of 83.0°F in its hottest month and a low of 9.4°F in its coldest, with 35.25" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 704 cooling and 7,115 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Tama County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Tama County
Common questions
How much does it cost to own a home in Toledo?
A $124,000 home in Toledo, Iowa costs approximately $1,176 per month with 20% down at 6.66%. That is $637 principal and interest, $186 property tax, $54 homeowners insurance, $195 utilities and $103 set aside for maintenance.
What is the property tax rate in Toledo?
Toledo has an effective property tax rate of 1.800%, based on a median home value of $124,000 and median real estate taxes of $2,232. That is higher than the Tama County average of 1.390%.
What is the average home price in Toledo?
The median owner-occupied home value in Toledo, Iowa is $124,000, against $139,900 across Tama County.
Is it cheaper to rent or buy in Toledo?
Median gross rent in Toledo is $958 a month, against $1,176 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 Toledo — 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.