The typical owner-occupied home in Farmersburg is worth about $78,000, 62% below the Iowa median of $208,000 and 77% below the national median of $332,700. Owners pay a median $1,205 a year in property taxes, about 1.54% of their home's value, higher than the Iowa rate of 1.39%. The median household earns $51,667 a year, so the median home costs 1.5 times the median income (2.8 times for Iowa). 86% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Farmersburg at a glance
| Farmersburg | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $78,000 | $208,000 | $332,700 |
| Median property tax paid per year | $1,205 | $2,897 | $3,119 |
| Property tax as a share of value | 1.54% | 1.39% | 0.94% |
| Median household income | $51,667 | $75,059 | $80,734 |
| Homes lived in by their owners | 86% | 72% | 65% |
| Owner homes with a mortgage | 50% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,058 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 14.1% | 18.7% | 21.0% |
| Median rent | $716 | $972 | $1,413 |
| Rent as a share of renters' income | 23.1% | 27.4% | 30.6% |
| Median year homes were built | 1938 | 1972 | 1980 |
| Vacant homes | 8.2% | 8.5% | 10.1% |
| Population | 375 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Farmersburg
At this week's average 30-year rate of 7.11%, buying the median Farmersburg home of $78,000 with 20% down costs about $552 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $682, 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 $23,673 for the 20%-down payment. That payment is 13% of the median Farmersburg household income of $51,667; at that income and 20% down, the 28% guideline points to a home of about $170,000.
The median rent here is $716 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $15,600 |
|---|---|
| Loan amount | $62,400 |
| Principal and interest | $420 |
| Property taxes (1.54% a year) | $100 |
| Homeowners insurance (our estimate, 0.5% a year) | $32 |
| PMI | $0 |
| Total per month | $552 |
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| Down payment | $2,730 |
|---|---|
| Loan amount | $76,587 |
| Principal and interest | $515 |
| Property taxes (1.54% a year) | $100 |
| Homeowners insurance (our estimate, 0.5% a year) | $32 |
| FHA mortgage insurance | $34 |
| Total per month | $682 |
Change the numbers in the calculator
Questions about home buying in Farmersburg
What is the median home value in Farmersburg?
About $78,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Farmersburg?
Homeowners pay a median $1,205 a year, which is about 1.54% 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 Farmersburg?
For the median home with 20% down at 7.11%, the payment is about $552 a month. Keeping that under 28% of gross income takes about $23,673 a year.
More about Farmersburg
- Mortgage Refinance in Farmersburg
- Debt Relief in Farmersburg
- Home Equity Loans in Farmersburg
- 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