The typical owner-occupied home in Rock Falls is worth about $156,300, 25% below the Iowa median of $208,000 and 53% below the national median of $332,700. Owners pay a median $1,825 a year in property taxes, about 1.17% of their home's value, lower than the Iowa rate of 1.39%. The median household earns $71,042 a year, so the median home costs 2.2 times the median income (2.8 times for Iowa). 96% of occupied homes here are lived in by their owners, and 60% of those owners still have a mortgage.
Rock Falls at a glance
| Rock Falls | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $156,300 | $208,000 | $332,700 |
| Median property tax paid per year | $1,825 | $2,897 | $3,119 |
| Property tax as a share of value | 1.17% | 1.39% | 0.94% |
| Median household income | $71,042 | $75,059 | $80,734 |
| Homes lived in by their owners | 96% | 72% | 65% |
| Owner homes with a mortgage | 60% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,484 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 20.4% | 18.7% | 21.0% |
| Median rent | – | $972 | $1,413 |
| Median year homes were built | 1953 | 1972 | 1980 |
| Vacant homes | 25.4% | 8.5% | 10.1% |
| Population | 119 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Rock Falls
At this week's average 30-year rate of 7.11%, buying the median Rock Falls home of $156,300 with 20% down costs about $1,059 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,319, 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 $45,372 for the 20%-down payment. That payment is 18% of the median Rock Falls household income of $71,042; at that income and 20% down, the 28% guideline points to a home of about $245,000.
| Down payment | $31,260 |
|---|---|
| Loan amount | $125,040 |
| Principal and interest | $841 |
| Property taxes (1.17% a year) | $152 |
| Homeowners insurance (our estimate, 0.5% a year) | $65 |
| PMI | $0 |
| Total per month | $1,059 |
Change the numbers in the calculator
| Down payment | $5,470 |
|---|---|
| Loan amount | $153,469 |
| Principal and interest | $1,032 |
| Property taxes (1.17% a year) | $152 |
| Homeowners insurance (our estimate, 0.5% a year) | $65 |
| FHA mortgage insurance | $69 |
| Total per month | $1,319 |
Change the numbers in the calculator
Questions about home buying in Rock Falls
What is the median home value in Rock Falls?
About $156,300 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Rock Falls?
Homeowners pay a median $1,825 a year, which is about 1.17% 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 Rock Falls?
For the median home with 20% down at 7.11%, the payment is about $1,059 a month. Keeping that under 28% of gross income takes about $45,372 a year.
More about Rock Falls
- Mortgage Refinance in Rock Falls
- Debt Relief in Rock Falls
- Home Equity Loans in Rock Falls
- 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