The typical owner-occupied home in Bernard is worth about $169,200, 19% below the Iowa median of $208,000 and 49% below the national median of $332,700. Owners pay a median $1,592 a year in property taxes, about 0.94% of their home's value, lower than the Iowa rate of 1.39%. The median household earns $71,250 a year, so the median home costs 2.4 times the median income (2.8 times for Iowa). 94% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Bernard at a glance
| Bernard | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $169,200 | $208,000 | $332,700 |
| Median property tax paid per year | $1,592 | $2,897 | $3,119 |
| Property tax as a share of value | 0.94% | 1.39% | 0.94% |
| Median household income | $71,250 | $75,059 | $80,734 |
| Homes lived in by their owners | 94% | 72% | 65% |
| Owner homes with a mortgage | 71% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,148 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 9.0% | 18.7% | 21.0% |
| Median rent | – | $972 | $1,413 |
| Median year homes were built | 1950 | 1972 | 1980 |
| Vacant homes | 5.5% | 8.5% | 10.1% |
| Population | 112 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Bernard
At this week's average 30-year rate of 7.11%, buying the median Bernard home of $169,200 with 20% down costs about $1,114 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,395, 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 $47,727 for the 20%-down payment. That payment is 19% of the median Bernard household income of $71,250; at that income and 20% down, the 28% guideline points to a home of about $253,000.
| Down payment | $33,840 |
|---|---|
| Loan amount | $135,360 |
| Principal and interest | $911 |
| Property taxes (0.94% a year) | $133 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| PMI | $0 |
| Total per month | $1,114 |
Change the numbers in the calculator
| Down payment | $5,922 |
|---|---|
| Loan amount | $166,135 |
| Principal and interest | $1,118 |
| Property taxes (0.94% a year) | $133 |
| Homeowners insurance (our estimate, 0.5% a year) | $70 |
| FHA mortgage insurance | $75 |
| Total per month | $1,395 |
Change the numbers in the calculator
Questions about home buying in Bernard
What is the median home value in Bernard?
About $169,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Bernard?
Homeowners pay a median $1,592 a year, which is about 0.94% 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 Bernard?
For the median home with 20% down at 7.11%, the payment is about $1,114 a month. Keeping that under 28% of gross income takes about $47,727 a year.
More about Bernard
- Mortgage Refinance in Bernard
- Debt Relief in Bernard
- Home Equity Loans in Bernard
- 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