Total monthly cost of ownership
Cost to Own a Home in Winterset, Iowa
A $182,000 home here costs
$1,719per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $73,500 a year.
A standard mortgage calculator would have told you $992. The real number is $727 higher every month, 73% more than the payment most buyers budget for.
Compare Madison County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Winterset against Madison County and Iowa
| Measure | Winterset | Madison County |
|---|---|---|
| Median home value | $181,500 | $236,900 |
| Median property tax | $3,422 | $3,681 |
| Effective tax rate | 1.885% | 1.554% |
| Median gross rent | $943 | $938 |
| Population | 5,384 | 16,760 |
The weather behind that power bill
Winterset sits in Madison County, which averages a high of 83.8°F in its hottest month and a low of 9.8°F in its coldest, with 34.79" of precipitation a year and 39% of it in a single three-month stretch. That climate drives 738 cooling and 6,870 heating degree days, which is what sets the $142 electricity line above.
See the full climate breakdown for Madison County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Madison County
Talk to someone who works this market
These are Winterset averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Winterset every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Winterset I already own here and may sell
Common questions
How much does it cost to own a home in Winterset?
A $182,000 home in Winterset, Iowa costs approximately $1,719 per month with 20% down at 7.24%. That is $992 principal and interest, $286 property tax, $79 homeowners insurance, $210 utilities and $152 set aside for maintenance.
What is the property tax rate in Winterset?
Winterset has an effective property tax rate of 1.885%, based on a median home value of $181,500 and median real estate taxes of $3,422. That is higher than the Madison County average of 1.554%.
What is the average home price in Winterset?
The median owner-occupied home value in Winterset, Iowa is $181,500, against $236,900 across Madison County.
Is it cheaper to rent or buy in Winterset?
Median gross rent in Winterset is $943 a month, against $1,719 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Winterset?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Winterset, Iowa at today's rate takes a household income of roughly $73,500 a year. That covers the full $1,719 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Winterset, 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.