The typical owner-occupied home in Readlyn is worth about $168,400, 19% below the Iowa median of $208,000 and 49% below the national median of $332,700. Owners pay a median $2,575 a year in property taxes, about 1.53% of their home's value, higher than the Iowa rate of 1.39%. The median household earns $86,103 a year, so the median home costs 2.0 times the median income (2.8 times for Iowa). 81% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Readlyn at a glance
| Readlyn | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $168,400 | $208,000 | $332,700 |
| Median property tax paid per year | $2,575 | $2,897 | $3,119 |
| Property tax as a share of value | 1.53% | 1.39% | 0.94% |
| Median household income | $86,103 | $75,059 | $80,734 |
| Homes lived in by their owners | 81% | 72% | 65% |
| Owner homes with a mortgage | 63% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,367 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 17.3% | 18.7% | 21.0% |
| Median rent | $588 | $972 | $1,413 |
| Rent as a share of renters' income | 18.8% | 27.4% | 30.6% |
| Median year homes were built | 1952 | 1972 | 1980 |
| Vacant homes | 3.2% | 8.5% | 10.1% |
| Population | 736 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Readlyn
At this week's average 30-year rate of 7.11%, buying the median Readlyn home of $168,400 with 20% down costs about $1,191 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,472, 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 $51,049 for the 20%-down payment. That payment is 17% of the median Readlyn household income of $86,103; at that income and 20% down, the 28% guideline points to a home of about $284,000.
The median rent here is $588 a month, so owning the median home costs about $603 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $33,680 |
|---|---|
| Loan amount | $134,720 |
| Principal and interest | $906 |
| Property taxes (1.53% a year) | $215 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| PMI | $0 |
| Total per month | $1,191 |
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| Down payment | $5,894 |
|---|---|
| Loan amount | $165,350 |
| Principal and interest | $1,112 |
| Property taxes (1.53% a year) | $215 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| FHA mortgage insurance | $74 |
| Total per month | $1,472 |
Change the numbers in the calculator
Questions about home buying in Readlyn
What is the median home value in Readlyn?
About $168,400 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Readlyn?
Homeowners pay a median $2,575 a year, which is about 1.53% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Readlyn?
For the median home with 20% down at 7.11%, the payment is about $1,191 a month. Keeping that under 28% of gross income takes about $51,049 a year.
More about Readlyn
- Mortgage Refinance in Readlyn
- Debt Relief in Readlyn
- Home Equity Loans in Readlyn
- 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