The typical owner-occupied home in Union is worth about $74,600, 64% below the Iowa median of $208,000 and 78% below the national median of $332,700. Owners pay a median $909 a year in property taxes, about 1.22% of their home's value, lower than the Iowa rate of 1.39%. The median household earns $55,625 a year, so the median home costs 1.3 times the median income (2.8 times for Iowa). 87% of occupied homes here are lived in by their owners, and 30% of those owners still have a mortgage.
Union at a glance
| Union | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $74,600 | $208,000 | $332,700 |
| Median property tax paid per year | $909 | $2,897 | $3,119 |
| Property tax as a share of value | 1.22% | 1.39% | 0.94% |
| Median household income | $55,625 | $75,059 | $80,734 |
| Homes lived in by their owners | 87% | 72% | 65% |
| Owner homes with a mortgage | 30% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $797 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 14.8% | 18.7% | 21.0% |
| Median rent | $875 | $972 | $1,413 |
| Rent as a share of renters' income | 24.2% | 27.4% | 30.6% |
| Median year homes were built | 1958 | 1972 | 1980 |
| Vacant homes | 13.2% | 8.5% | 10.1% |
| Population | 378 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Union
At this week's average 30-year rate of 7.11%, buying the median Union home of $74,600 with 20% down costs about $508 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $633, 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 $21,789 for the 20%-down payment. That payment is 11% of the median Union household income of $55,625; at that income and 20% down, the 28% guideline points to a home of about $190,000.
The median rent here is $875 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $14,920 |
|---|---|
| Loan amount | $59,680 |
| Principal and interest | $401 |
| Property taxes (1.22% a year) | $76 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| PMI | $0 |
| Total per month | $508 |
Change the numbers in the calculator
| Down payment | $2,611 |
|---|---|
| Loan amount | $73,249 |
| Principal and interest | $493 |
| Property taxes (1.22% a year) | $76 |
| Homeowners insurance (our estimate, 0.5% a year) | $31 |
| FHA mortgage insurance | $33 |
| Total per month | $633 |
Change the numbers in the calculator
Questions about home buying in Union
What is the median home value in Union?
About $74,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Union?
Homeowners pay a median $909 a year, which is about 1.22% 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 Union?
For the median home with 20% down at 7.11%, the payment is about $508 a month. Keeping that under 28% of gross income takes about $21,789 a year.
More about Union
- Mortgage Refinance in Union
- Debt Relief in Union
- Home Equity Loans in Union
- 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