The typical owner-occupied home in Creston is worth about $114,500, 45% below the Iowa median of $208,000 and 66% below the national median of $332,700. Owners pay a median $2,096 a year in property taxes, about 1.83% of their home's value, higher than the Iowa rate of 1.39%. The median household earns $52,633 a year, so the median home costs 2.2 times the median income (2.8 times for Iowa). 64% of occupied homes here are lived in by their owners, and 52% of those owners still have a mortgage.
Creston at a glance
| Creston | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $114,500 | $208,000 | $332,700 |
| Median property tax paid per year | $2,096 | $2,897 | $3,119 |
| Property tax as a share of value | 1.83% | 1.39% | 0.94% |
| Median household income | $52,633 | $75,059 | $80,734 |
| Homes lived in by their owners | 64% | 72% | 65% |
| Owner homes with a mortgage | 52% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,128 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 21.3% | 18.7% | 21.0% |
| Median rent | $703 | $972 | $1,413 |
| Rent as a share of renters' income | 26.3% | 27.4% | 30.6% |
| Median year homes were built | 1961 | 1972 | 1980 |
| Vacant homes | 10.8% | 8.5% | 10.1% |
| Population | 7,435 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Creston
At this week's average 30-year rate of 7.11%, buying the median Creston home of $114,500 with 20% down costs about $839 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,029, 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 $35,937 for the 20%-down payment. That payment is 19% of the median Creston household income of $52,633; at that income and 20% down, the 28% guideline points to a home of about $168,000.
The median rent here is $703 a month, so owning the median home costs about $136 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $22,900 |
|---|---|
| Loan amount | $91,600 |
| Principal and interest | $616 |
| Property taxes (1.83% a year) | $175 |
| Homeowners insurance (our estimate, 0.5% a year) | $48 |
| PMI | $0 |
| Total per month | $839 |
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| Down payment | $4,008 |
|---|---|
| Loan amount | $112,426 |
| Principal and interest | $756 |
| Property taxes (1.83% a year) | $175 |
| Homeowners insurance (our estimate, 0.5% a year) | $48 |
| FHA mortgage insurance | $51 |
| Total per month | $1,029 |
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Questions about home buying in Creston
What is the median home value in Creston?
About $114,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Creston?
Homeowners pay a median $2,096 a year, which is about 1.83% 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 Creston?
For the median home with 20% down at 7.11%, the payment is about $839 a month. Keeping that under 28% of gross income takes about $35,937 a year.
More about Creston
- Mortgage Refinance in Creston
- Debt Relief in Creston
- Home Equity Loans in Creston
- 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