The typical owner-occupied home in Mount Union is worth about $96,100, 54% below the Iowa median of $208,000 and 71% below the national median of $332,700. Owners pay a median $1,653 a year in property taxes, about 1.72% of their home's value, higher than the Iowa rate of 1.39%. The median household earns $50,500 a year, so the median home costs 1.9 times the median income (2.8 times for Iowa). 86% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
Mount Union at a glance
| Mount Union | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $96,100 | $208,000 | $332,700 |
| Median property tax paid per year | $1,653 | $2,897 | $3,119 |
| Property tax as a share of value | 1.72% | 1.39% | 0.94% |
| Median household income | $50,500 | $75,059 | $80,734 |
| Homes lived in by their owners | 86% | 72% | 65% |
| Owner homes with a mortgage | 67% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,338 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 23.7% | 18.7% | 21.0% |
| Median rent | – | $972 | $1,413 |
| Median year homes were built | 1972 | 1972 | 1980 |
| Vacant homes | 0.0% | 8.5% | 10.1% |
| Population | 111 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Mount Union
At this week's average 30-year rate of 7.11%, buying the median Mount Union home of $96,100 with 20% down costs about $695 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $855, 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 $29,784 for the 20%-down payment. That payment is 17% of the median Mount Union household income of $50,500; at that income and 20% down, the 28% guideline points to a home of about $163,000.
| Down payment | $19,220 |
|---|---|
| Loan amount | $76,880 |
| Principal and interest | $517 |
| Property taxes (1.72% a year) | $138 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| PMI | $0 |
| Total per month | $695 |
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| Down payment | $3,364 |
|---|---|
| Loan amount | $94,359 |
| Principal and interest | $635 |
| Property taxes (1.72% a year) | $138 |
| Homeowners insurance (our estimate, 0.5% a year) | $40 |
| FHA mortgage insurance | $42 |
| Total per month | $855 |
Change the numbers in the calculator
Questions about home buying in Mount Union
What is the median home value in Mount Union?
About $96,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mount Union?
Homeowners pay a median $1,653 a year, which is about 1.72% 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 Mount Union?
For the median home with 20% down at 7.11%, the payment is about $695 a month. Keeping that under 28% of gross income takes about $29,784 a year.
More about Mount Union
- Mortgage Refinance in Mount Union
- Debt Relief in Mount Union
- Home Equity Loans in Mount 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