The typical owner-occupied home in Conrad is worth about $164,700, 21% below the Iowa median of $208,000 and 50% below the national median of $332,700. Owners pay a median $2,022 a year in property taxes, about 1.23% of their home's value, lower than the Iowa rate of 1.39%. The median household earns $73,292 a year, so the median home costs 2.2 times the median income (2.8 times for Iowa). 72% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Conrad at a glance
| Conrad | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $164,700 | $208,000 | $332,700 |
| Median property tax paid per year | $2,022 | $2,897 | $3,119 |
| Property tax as a share of value | 1.23% | 1.39% | 0.94% |
| Median household income | $73,292 | $75,059 | $80,734 |
| Homes lived in by their owners | 72% | 72% | 65% |
| Owner homes with a mortgage | 59% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,292 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 17.2% | 18.7% | 21.0% |
| Median rent | $840 | $972 | $1,413 |
| Rent as a share of renters' income | 27.2% | 27.4% | 30.6% |
| Median year homes were built | 1972 | 1972 | 1980 |
| Vacant homes | 12.0% | 8.5% | 10.1% |
| Population | 1,191 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Conrad
At this week's average 30-year rate of 7.11%, buying the median Conrad home of $164,700 with 20% down costs about $1,124 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,398, 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 $48,163 for the 20%-down payment. That payment is 18% of the median Conrad household income of $73,292; at that income and 20% down, the 28% guideline points to a home of about $251,000.
The median rent here is $840 a month, so owning the median home costs about $284 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $32,940 |
|---|---|
| Loan amount | $131,760 |
| Principal and interest | $886 |
| Property taxes (1.23% a year) | $169 |
| Homeowners insurance (our estimate, 0.5% a year) | $69 |
| PMI | $0 |
| Total per month | $1,124 |
Change the numbers in the calculator
| Down payment | $5,764 |
|---|---|
| Loan amount | $161,717 |
| Principal and interest | $1,088 |
| Property taxes (1.23% a year) | $169 |
| Homeowners insurance (our estimate, 0.5% a year) | $69 |
| FHA mortgage insurance | $73 |
| Total per month | $1,398 |
Change the numbers in the calculator
Questions about home buying in Conrad
What is the median home value in Conrad?
About $164,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Conrad?
Homeowners pay a median $2,022 a year, which is about 1.23% 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 Conrad?
For the median home with 20% down at 7.11%, the payment is about $1,124 a month. Keeping that under 28% of gross income takes about $48,163 a year.
More about Conrad
- Mortgage Refinance in Conrad
- Debt Relief in Conrad
- Home Equity Loans in Conrad
- 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