Total monthly cost of ownership
Cost to Own a Home in Wapello, Iowa
A $129,000 home here costs
$1,165per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $663. The real number is $502 higher every month — 76% 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.
Wapello against Louisa County and Iowa
| Measure | Wapello | Louisa County |
|---|---|---|
| Median home value | $128,800 | $137,600 |
| Median property tax | $1,717 | $1,752 |
| Effective tax rate | 1.333% | 1.273% |
| Median gross rent | $707 | $797 |
| Population | 1,935 | 10,710 |
The weather behind that power bill
Wapello sits in Louisa County, which averages a high of 83.9°F in its hottest month and a low of 10.9°F in its coldest, with 38.83" of precipitation a year and 37% of it in a single three-month stretch. That climate drives 790 cooling and 6,661 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Louisa County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Louisa County
Common questions
How much does it cost to own a home in Wapello?
A $129,000 home in Wapello, Iowa costs approximately $1,165 per month with 20% down at 6.66%. That is $663 principal and interest, $143 property tax, $56 homeowners insurance, $195 utilities and $108 set aside for maintenance.
What is the property tax rate in Wapello?
Wapello has an effective property tax rate of 1.333%, based on a median home value of $128,800 and median real estate taxes of $1,717. That is higher than the Louisa County average of 1.273%.
What is the average home price in Wapello?
The median owner-occupied home value in Wapello, Iowa is $128,800, against $137,600 across Louisa County.
Is it cheaper to rent or buy in Wapello?
Median gross rent in Wapello is $707 a month, against $1,165 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 Wapello — 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.