The typical owner-occupied home in Center Junction is worth about $58,900, 72% below the Iowa median of $208,000 and 82% below the national median of $332,700. Owners pay a median $553 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 $26,528 a year, so the median home costs 2.2 times the median income (2.8 times for Iowa). 100% of occupied homes here are lived in by their owners, and 18% of those owners still have a mortgage.
Center Junction at a glance
| Center Junction | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $58,900 | $208,000 | $332,700 |
| Median property tax paid per year | $553 | $2,897 | $3,119 |
| Property tax as a share of value | 0.94% | 1.39% | 0.94% |
| Median household income | $26,528 | $75,059 | $80,734 |
| Homes lived in by their owners | 100% | 72% | 65% |
| Owner homes with a mortgage | 18% | 59% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,533 | $1,963 |
| Median rent | – | $972 | $1,413 |
| Median year homes were built | 1938 | 1972 | 1980 |
| Vacant homes | 0.0% | 8.5% | 10.1% |
| Population | 126 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Center Junction
At this week's average 30-year rate of 7.11%, buying the median Center Junction home of $58,900 with 20% down costs about $388 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $486, 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 $16,614 for the 20%-down payment. That payment is 18% of the median Center Junction household income of $26,528; at that income and 20% down, the 28% guideline points to a home of about $94,000.
| Down payment | $11,780 |
|---|---|
| Loan amount | $47,120 |
| Principal and interest | $317 |
| Property taxes (0.94% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| PMI | $0 |
| Total per month | $388 |
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| Down payment | $2,062 |
|---|---|
| Loan amount | $57,833 |
| Principal and interest | $389 |
| Property taxes (0.94% a year) | $46 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| FHA mortgage insurance | $26 |
| Total per month | $486 |
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Questions about home buying in Center Junction
What is the median home value in Center Junction?
About $58,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Center Junction?
Homeowners pay a median $553 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 Center Junction?
For the median home with 20% down at 7.11%, the payment is about $388 a month. Keeping that under 28% of gross income takes about $16,614 a year.
More about Center Junction
- Mortgage Refinance in Center Junction
- Debt Relief in Center Junction
- Home Equity Loans in Center Junction
- 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