The typical owner-occupied home in Dedham is worth about $187,500, 10% below the Iowa median of $208,000 and 44% below the national median of $332,700. Owners pay a median $1,583 a year in property taxes, about 0.84% of their home's value, lower than the Iowa rate of 1.39%. The median household earns $100,417 a year, so the median home costs 1.9 times the median income (2.8 times for Iowa). 98% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Dedham at a glance
| Dedham | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $187,500 | $208,000 | $332,700 |
| Median property tax paid per year | $1,583 | $2,897 | $3,119 |
| Property tax as a share of value | 0.84% | 1.39% | 0.94% |
| Median household income | $100,417 | $75,059 | $80,734 |
| Homes lived in by their owners | 98% | 72% | 65% |
| Owner homes with a mortgage | 65% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,196 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 14.2% | 18.7% | 21.0% |
| Median rent | – | $972 | $1,413 |
| Median year homes were built | 1964 | 1972 | 1980 |
| Vacant homes | 0.0% | 8.5% | 10.1% |
| Population | 280 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Dedham
At this week's average 30-year rate of 7.11%, buying the median Dedham home of $187,500 with 20% down costs about $1,218 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,531, 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 $52,219 for the 20%-down payment. That payment is 15% of the median Dedham household income of $100,417; at that income and 20% down, the 28% guideline points to a home of about $361,000.
| Down payment | $37,500 |
|---|---|
| Loan amount | $150,000 |
| Principal and interest | $1,009 |
| Property taxes (0.84% a year) | $131 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| PMI | $0 |
| Total per month | $1,218 |
Change the numbers in the calculator
| Down payment | $6,562 |
|---|---|
| Loan amount | $184,104 |
| Principal and interest | $1,238 |
| Property taxes (0.84% a year) | $131 |
| Homeowners insurance (our estimate, 0.5% a year) | $78 |
| FHA mortgage insurance | $83 |
| Total per month | $1,531 |
Change the numbers in the calculator
Questions about home buying in Dedham
What is the median home value in Dedham?
About $187,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Dedham?
Homeowners pay a median $1,583 a year, which is about 0.84% 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 Dedham?
For the median home with 20% down at 7.11%, the payment is about $1,218 a month. Keeping that under 28% of gross income takes about $52,219 a year.
More about Dedham
- Mortgage Refinance in Dedham
- Debt Relief in Dedham
- Home Equity Loans in Dedham
- 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