The typical owner-occupied home in Bridgewater is worth about $56,700, 73% below the Iowa median of $208,000 and 83% below the national median of $332,700. The median household earns $59,167 a year, so the median home costs 1.0 times the median income (2.8 times for Iowa). 90% of occupied homes here are lived in by their owners, and 48% of those owners still have a mortgage.
Bridgewater at a glance
| Bridgewater | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $56,700 | $208,000 | $332,700 |
| Median property tax paid per year | – | $2,897 | $3,119 |
| Median household income | $59,167 | $75,059 | $80,734 |
| Homes lived in by their owners | 90% | 72% | 65% |
| Owner homes with a mortgage | 48% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,019 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 21.0% | 18.7% | 21.0% |
| Median rent | $625 | $972 | $1,413 |
| Rent as a share of renters' income | 51.0% | 27.4% | 30.6% |
| Median year homes were built | 1955 | 1972 | 1980 |
| Vacant homes | 0.0% | 8.5% | 10.1% |
| Population | 124 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Bridgewater
At this week's average 30-year rate of 7.11%, buying the median Bridgewater home of $56,700 with 20% down costs about $381 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $475, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $16,317 for the 20%-down payment. That payment is 8% of the median Bridgewater household income of $59,167; at that income and 20% down, the 28% guideline points to a home of about $206,000.
The median rent here is $625 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $11,340 |
|---|---|
| Loan amount | $45,360 |
| Principal and interest | $305 |
| Property taxes (1.10% a year) | $52 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| PMI | $0 |
| Total per month | $381 |
Change the numbers in the calculator
| Down payment | $1,984 |
|---|---|
| Loan amount | $55,673 |
| Principal and interest | $375 |
| Property taxes (1.10% a year) | $52 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| FHA mortgage insurance | $25 |
| Total per month | $475 |
Change the numbers in the calculator
Questions about home buying in Bridgewater
What is the median home value in Bridgewater?
About $56,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Bridgewater?
For the median home with 20% down at 7.11%, the payment is about $381 a month. Keeping that under 28% of gross income takes about $16,317 a year.
More about Bridgewater
- Mortgage Refinance in Bridgewater
- Debt Relief in Bridgewater
- Home Equity Loans in Bridgewater
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data