The typical owner-occupied home in Eldora is worth about $133,000, 36% below the Iowa median of $208,000 and 60% below the national median of $332,700. Owners pay a median $2,277 a year in property taxes, about 1.71% of their home's value, higher than the Iowa rate of 1.39%. The median household earns $77,188 a year, so the median home costs 1.7 times the median income (2.8 times for Iowa). 69% of occupied homes here are lived in by their owners, and 48% of those owners still have a mortgage.
Eldora at a glance
| Eldora | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $133,000 | $208,000 | $332,700 |
| Median property tax paid per year | $2,277 | $2,897 | $3,119 |
| Property tax as a share of value | 1.71% | 1.39% | 0.94% |
| Median household income | $77,188 | $75,059 | $80,734 |
| Homes lived in by their owners | 69% | 72% | 65% |
| Owner homes with a mortgage | 48% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,320 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 20.0% | 18.7% | 21.0% |
| Median rent | $750 | $972 | $1,413 |
| Rent as a share of renters' income | 25.6% | 27.4% | 30.6% |
| Median year homes were built | 1958 | 1972 | 1980 |
| Vacant homes | 15.8% | 8.5% | 10.1% |
| Population | 2,617 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Eldora
At this week's average 30-year rate of 7.11%, buying the median Eldora home of $133,000 with 20% down costs about $961 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,182, 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 $41,173 for the 20%-down payment. That payment is 15% of the median Eldora household income of $77,188; at that income and 20% down, the 28% guideline points to a home of about $249,000.
The median rent here is $750 a month, so owning the median home costs about $211 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $26,600 |
|---|---|
| Loan amount | $106,400 |
| Principal and interest | $716 |
| Property taxes (1.71% a year) | $190 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| PMI | $0 |
| Total per month | $961 |
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| Down payment | $4,655 |
|---|---|
| Loan amount | $130,591 |
| Principal and interest | $878 |
| Property taxes (1.71% a year) | $190 |
| Homeowners insurance (our estimate, 0.5% a year) | $55 |
| FHA mortgage insurance | $59 |
| Total per month | $1,182 |
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Questions about home buying in Eldora
What is the median home value in Eldora?
About $133,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Eldora?
Homeowners pay a median $2,277 a year, which is about 1.71% 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 Eldora?
For the median home with 20% down at 7.11%, the payment is about $961 a month. Keeping that under 28% of gross income takes about $41,173 a year.
More about Eldora
- Mortgage Refinance in Eldora
- Debt Relief in Eldora
- Home Equity Loans in Eldora
- 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