The typical owner-occupied home in Ionia is worth about $95,700, 54% below the Iowa median of $208,000 and 71% below the national median of $332,700. Owners pay a median $1,214 a year in property taxes, about 1.27% of their home's value, lower than the Iowa rate of 1.39%. The median household earns $73,945 a year, so the median home costs 1.3 times the median income (2.8 times for Iowa). 82% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Ionia at a glance
| Ionia | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $95,700 | $208,000 | $332,700 |
| Median property tax paid per year | $1,214 | $2,897 | $3,119 |
| Property tax as a share of value | 1.27% | 1.39% | 0.94% |
| Median household income | $73,945 | $75,059 | $80,734 |
| Homes lived in by their owners | 82% | 72% | 65% |
| Owner homes with a mortgage | 61% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $977 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 16.8% | 18.7% | 21.0% |
| Median rent | $533 | $972 | $1,413 |
| Rent as a share of renters' income | 30.0% | 27.4% | 30.6% |
| Median year homes were built | 1951 | 1972 | 1980 |
| Vacant homes | 14.2% | 8.5% | 10.1% |
| Population | 336 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Ionia
At this week's average 30-year rate of 7.11%, buying the median Ionia home of $95,700 with 20% down costs about $656 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $816, 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 $28,122 for the 20%-down payment. That payment is 11% of the median Ionia household income of $73,945; at that income and 20% down, the 28% guideline points to a home of about $252,000.
The median rent here is $533 a month, so owning the median home costs about $123 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $19,140 |
|---|---|
| Loan amount | $76,560 |
| Principal and interest | $515 |
| Property taxes (1.27% a year) | $101 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| PMI | $0 |
| Total per month | $656 |
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| Down payment | $3,350 |
|---|---|
| Loan amount | $93,967 |
| Principal and interest | $632 |
| Property taxes (1.27% a year) | $101 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| FHA mortgage insurance | $42 |
| Total per month | $816 |
Change the numbers in the calculator
Questions about home buying in Ionia
What is the median home value in Ionia?
About $95,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ionia?
Homeowners pay a median $1,214 a year, which is about 1.27% 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 Ionia?
For the median home with 20% down at 7.11%, the payment is about $656 a month. Keeping that under 28% of gross income takes about $28,122 a year.
More about Ionia
- Mortgage Refinance in Ionia
- Debt Relief in Ionia
- Home Equity Loans in Ionia
- 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