The typical owner-occupied home in Grand Mound is worth about $145,200, 30% below the Iowa median of $208,000 and 56% below the national median of $332,700. Owners pay a median $2,192 a year in property taxes, about 1.51% of their home's value, higher than the Iowa rate of 1.39%. The median household earns $82,143 a year, so the median home costs 1.8 times the median income (2.8 times for Iowa). 83% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
Grand Mound at a glance
| Grand Mound | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $145,200 | $208,000 | $332,700 |
| Median property tax paid per year | $2,192 | $2,897 | $3,119 |
| Property tax as a share of value | 1.51% | 1.39% | 0.94% |
| Median household income | $82,143 | $75,059 | $80,734 |
| Homes lived in by their owners | 83% | 72% | 65% |
| Owner homes with a mortgage | 67% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,325 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 17.7% | 18.7% | 21.0% |
| Median rent | $763 | $972 | $1,413 |
| Rent as a share of renters' income | 25.5% | 27.4% | 30.6% |
| Median year homes were built | 1943 | 1972 | 1980 |
| Vacant homes | 2.3% | 8.5% | 10.1% |
| Population | 510 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Grand Mound
At this week's average 30-year rate of 7.11%, buying the median Grand Mound home of $145,200 with 20% down costs about $1,025 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,267, 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 $43,913 for the 20%-down payment. That payment is 15% of the median Grand Mound household income of $82,143; at that income and 20% down, the 28% guideline points to a home of about $272,000.
The median rent here is $763 a month, so owning the median home costs about $262 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $29,040 |
|---|---|
| Loan amount | $116,160 |
| Principal and interest | $781 |
| Property taxes (1.51% a year) | $183 |
| Homeowners insurance (our estimate, 0.5% a year) | $60 |
| PMI | $0 |
| Total per month | $1,025 |
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| Down payment | $5,082 |
|---|---|
| Loan amount | $142,570 |
| Principal and interest | $959 |
| Property taxes (1.51% a year) | $183 |
| Homeowners insurance (our estimate, 0.5% a year) | $60 |
| FHA mortgage insurance | $64 |
| Total per month | $1,267 |
Change the numbers in the calculator
Questions about home buying in Grand Mound
What is the median home value in Grand Mound?
About $145,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Grand Mound?
Homeowners pay a median $2,192 a year, which is about 1.51% 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 Grand Mound?
For the median home with 20% down at 7.11%, the payment is about $1,025 a month. Keeping that under 28% of gross income takes about $43,913 a year.
More about Grand Mound
- Mortgage Refinance in Grand Mound
- Debt Relief in Grand Mound
- Home Equity Loans in Grand Mound
- 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