The typical owner-occupied home in Alleman is worth about $299,200, 44% above the Iowa median of $208,000 and 10% below the national median of $332,700. Owners pay a median $5,625 a year in property taxes, about 1.88% of their home's value, higher than the Iowa rate of 1.39%. The median household earns $121,875 a year, so the median home costs 2.5 times the median income (2.8 times for Iowa). 100% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
Alleman at a glance
| Alleman | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $299,200 | $208,000 | $332,700 |
| Median property tax paid per year | $5,625 | $2,897 | $3,119 |
| Property tax as a share of value | 1.88% | 1.39% | 0.94% |
| Median household income | $121,875 | $75,059 | $80,734 |
| Homes lived in by their owners | 100% | 72% | 65% |
| Owner homes with a mortgage | 67% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $2,010 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 18.6% | 18.7% | 21.0% |
| Median rent | – | $972 | $1,413 |
| Median year homes were built | 1977 | 1972 | 1980 |
| Vacant homes | 0.6% | 8.5% | 10.1% |
| Population | 429 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Alleman
At this week's average 30-year rate of 7.11%, buying the median Alleman home of $299,200 with 20% down costs about $2,204 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,702, 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 $94,440 for the 20%-down payment. That payment is 22% of the median Alleman household income of $121,875; at that income and 20% down, the 28% guideline points to a home of about $386,000.
| Down payment | $59,840 |
|---|---|
| Loan amount | $239,360 |
| Principal and interest | $1,610 |
| Property taxes (1.88% a year) | $469 |
| Homeowners insurance (our estimate, 0.5% a year) | $125 |
| PMI | $0 |
| Total per month | $2,204 |
Change the numbers in the calculator
| Down payment | $10,472 |
|---|---|
| Loan amount | $293,781 |
| Principal and interest | $1,976 |
| Property taxes (1.88% a year) | $469 |
| Homeowners insurance (our estimate, 0.5% a year) | $125 |
| FHA mortgage insurance | $132 |
| Total per month | $2,702 |
Change the numbers in the calculator
Questions about home buying in Alleman
What is the median home value in Alleman?
About $299,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Alleman?
Homeowners pay a median $5,625 a year, which is about 1.88% 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 Alleman?
For the median home with 20% down at 7.11%, the payment is about $2,204 a month. Keeping that under 28% of gross income takes about $94,440 a year.
More about Alleman
- Mortgage Refinance in Alleman
- Debt Relief in Alleman
- Home Equity Loans in Alleman
- 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