The typical owner-occupied home in Larrabee is worth about $57,100, 73% below the Iowa median of $208,000 and 83% below the national median of $332,700. Owners pay a median $463 a year in property taxes, about 0.81% of their home's value, lower than the Iowa rate of 1.39%. The median household earns $50,769 a year, so the median home costs 1.1 times the median income (2.8 times for Iowa). 97% of occupied homes here are lived in by their owners, and 32% of those owners still have a mortgage.
Larrabee at a glance
| Larrabee | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $57,100 | $208,000 | $332,700 |
| Median property tax paid per year | $463 | $2,897 | $3,119 |
| Property tax as a share of value | 0.81% | 1.39% | 0.94% |
| Median household income | $50,769 | $75,059 | $80,734 |
| Homes lived in by their owners | 97% | 72% | 65% |
| Owner homes with a mortgage | 32% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,063 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 13.3% | 18.7% | 21.0% |
| Median rent | – | $972 | $1,413 |
| Median year homes were built | 1948 | 1972 | 1980 |
| Vacant homes | 10.3% | 8.5% | 10.1% |
| Population | 147 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Larrabee
At this week's average 30-year rate of 7.11%, buying the median Larrabee home of $57,100 with 20% down costs about $370 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $465, 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 $15,841 for the 20%-down payment. That payment is 9% of the median Larrabee household income of $50,769; at that income and 20% down, the 28% guideline points to a home of about $183,000.
| Down payment | $11,420 |
|---|---|
| Loan amount | $45,680 |
| Principal and interest | $307 |
| Property taxes (0.81% a year) | $39 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| PMI | $0 |
| Total per month | $370 |
Change the numbers in the calculator
| Down payment | $1,998 |
|---|---|
| Loan amount | $56,066 |
| Principal and interest | $377 |
| Property taxes (0.81% a year) | $39 |
| Homeowners insurance (our estimate, 0.5% a year) | $24 |
| FHA mortgage insurance | $25 |
| Total per month | $465 |
Change the numbers in the calculator
Questions about home buying in Larrabee
What is the median home value in Larrabee?
About $57,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Larrabee?
Homeowners pay a median $463 a year, which is about 0.81% 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 Larrabee?
For the median home with 20% down at 7.11%, the payment is about $370 a month. Keeping that under 28% of gross income takes about $15,841 a year.
More about Larrabee
- Mortgage Refinance in Larrabee
- Debt Relief in Larrabee
- Home Equity Loans in Larrabee
- 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