The typical owner-occupied home in Mills County is worth about $237,800, 14% above the Iowa median of $208,000 and 29% below the national median of $332,700. Owners pay a median $3,494 a year in property taxes, about 1.47% of their home's value, higher than the Iowa rate of 1.39%. The median household earns $90,753 a year, so the median home costs 2.6 times the median income (2.8 times for Iowa). 84% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Mills County at a glance
| Mills County | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $237,800 | $208,000 | $332,700 |
| Median property tax paid per year | $3,494 | $2,897 | $3,119 |
| Property tax as a share of value | 1.47% | 1.39% | 0.94% |
| Median household income | $90,753 | $75,059 | $80,734 |
| Homes lived in by their owners | 84% | 72% | 65% |
| Owner homes with a mortgage | 61% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,652 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 18.9% | 18.7% | 21.0% |
| Median rent | $959 | $972 | $1,413 |
| Rent as a share of renters' income | 25.2% | 27.4% | 30.6% |
| Median year homes were built | 1972 | 1972 | 1980 |
| Vacant homes | 12.1% | 8.5% | 10.1% |
| Population | 14,568 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Mills County
At this week's average 30-year rate of 7.11%, buying the median Mills County home of $237,800 with 20% down costs about $1,670 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,066, 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 $71,578 for the 20%-down payment. That payment is 22% of the median Mills County household income of $90,753; at that income and 20% down, the 28% guideline points to a home of about $302,000.
The median rent here is $959 a month, so owning the median home costs about $711 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $47,560 |
|---|---|
| Loan amount | $190,240 |
| Principal and interest | $1,280 |
| Property taxes (1.47% a year) | $291 |
| Homeowners insurance (our estimate, 0.5% a year) | $99 |
| PMI | $0 |
| Total per month | $1,670 |
Change the numbers in the calculator
| Down payment | $8,323 |
|---|---|
| Loan amount | $233,493 |
| Principal and interest | $1,571 |
| Property taxes (1.47% a year) | $291 |
| Homeowners insurance (our estimate, 0.5% a year) | $99 |
| FHA mortgage insurance | $105 |
| Total per month | $2,066 |
Change the numbers in the calculator
Questions about home buying in Mills County
What is the median home value in Mills County?
About $237,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Mills County?
Homeowners pay a median $3,494 a year, which is about 1.47% 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 Mills County?
For the median home with 20% down at 7.11%, the payment is about $1,670 a month. Keeping that under 28% of gross income takes about $71,578 a year.
More about Mills County
- Mortgage Refinance in Mills County
- Debt Relief in Mills County
- Home Equity Loans in Mills County
- 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