Total monthly cost of ownership
Cost to Own a Home in Wellman, Iowa
A $149,000 home here costs
$1,334per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $766. The real number is $567 higher every month — 74% 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.
Wellman against Washington County and Iowa
| Measure | Wellman | Washington County |
|---|---|---|
| Median home value | $149,000 | $199,600 |
| Median property tax | $2,200 | $2,688 |
| Effective tax rate | 1.477% | 1.347% |
| Median gross rent | $765 | $862 |
| Population | 1,539 | 22,539 |
The weather behind that power bill
Wellman sits in Washington County, which averages a high of 85.0°F in its hottest month and a low of 11.5°F in its coldest, with 37.94" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 867 cooling and 6,536 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Washington County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Washington County
Full Washington County cost breakdown · Every county in Iowa
Common questions
How much does it cost to own a home in Wellman?
A $149,000 home in Wellman, Iowa costs approximately $1,334 per month with 20% down at 6.66%. That is $766 principal and interest, $183 property tax, $65 homeowners insurance, $195 utilities and $124 set aside for maintenance.
What is the property tax rate in Wellman?
Wellman has an effective property tax rate of 1.477%, based on a median home value of $149,000 and median real estate taxes of $2,200. That is higher than the Washington County average of 1.347%.
What is the average home price in Wellman?
The median owner-occupied home value in Wellman, Iowa is $149,000, against $199,600 across Washington County.
Is it cheaper to rent or buy in Wellman?
Median gross rent in Wellman is $765 a month, against $1,334 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 Wellman — 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.