Total monthly cost of ownership
Cost to Own a Home in Urbana, Iowa
A $224,000 home here costs
$1,927per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,152. The real number is $775 higher every month — 67% 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.
Urbana against Benton County and Iowa
| Measure | Urbana | Benton County |
|---|---|---|
| Median home value | $224,100 | $198,400 |
| Median property tax | $3,555 | $2,627 |
| Effective tax rate | 1.586% | 1.324% |
| Median gross rent | $776 | $815 |
| Population | 1,628 | 25,698 |
The weather behind that power bill
Urbana sits in Benton County, which averages a high of 81.4°F in its hottest month and a low of 8.1°F in its coldest, with 37.93" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 540 cooling and 7,441 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Benton County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Benton County
Common questions
How much does it cost to own a home in Urbana?
A $224,000 home in Urbana, Iowa costs approximately $1,927 per month with 20% down at 6.66%. That is $1,152 principal and interest, $296 property tax, $97 homeowners insurance, $195 utilities and $187 set aside for maintenance.
What is the property tax rate in Urbana?
Urbana has an effective property tax rate of 1.586%, based on a median home value of $224,100 and median real estate taxes of $3,555. That is higher than the Benton County average of 1.324%.
What is the average home price in Urbana?
The median owner-occupied home value in Urbana, Iowa is $224,100, against $198,400 across Benton County.
Is it cheaper to rent or buy in Urbana?
Median gross rent in Urbana is $776 a month, against $1,927 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 Urbana — 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.