The typical owner-occupied home in Barnum is worth about $135,600, 35% below the Iowa median of $208,000 and 59% below the national median of $332,700. Owners pay a median $1,779 a year in property taxes, about 1.31% of their home's value, lower than the Iowa rate of 1.39%. The median household earns $86,615 a year, so the median home costs 1.6 times the median income (2.8 times for Iowa). 96% of occupied homes here are lived in by their owners, and 82% of those owners still have a mortgage.
Barnum at a glance
| Barnum | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $135,600 | $208,000 | $332,700 |
| Median property tax paid per year | $1,779 | $2,897 | $3,119 |
| Property tax as a share of value | 1.31% | 1.39% | 0.94% |
| Median household income | $86,615 | $75,059 | $80,734 |
| Homes lived in by their owners | 96% | 72% | 65% |
| Owner homes with a mortgage | 82% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,557 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 22.1% | 18.7% | 21.0% |
| Median rent | – | $972 | $1,413 |
| Median year homes were built | 1984 | 1972 | 1980 |
| Vacant homes | 11.2% | 8.5% | 10.1% |
| Population | 250 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Barnum
At this week's average 30-year rate of 7.11%, buying the median Barnum home of $135,600 with 20% down costs about $934 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,160, 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 $40,041 for the 20%-down payment. That payment is 13% of the median Barnum household income of $86,615; at that income and 20% down, the 28% guideline points to a home of about $293,000.
| Down payment | $27,120 |
|---|---|
| Loan amount | $108,480 |
| Principal and interest | $730 |
| Property taxes (1.31% a year) | $148 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| PMI | $0 |
| Total per month | $934 |
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| Down payment | $4,746 |
|---|---|
| Loan amount | $133,144 |
| Principal and interest | $896 |
| Property taxes (1.31% a year) | $148 |
| Homeowners insurance (our estimate, 0.5% a year) | $56 |
| FHA mortgage insurance | $60 |
| Total per month | $1,160 |
Change the numbers in the calculator
Questions about home buying in Barnum
What is the median home value in Barnum?
About $135,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Barnum?
Homeowners pay a median $1,779 a year, which is about 1.31% 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 Barnum?
For the median home with 20% down at 7.11%, the payment is about $934 a month. Keeping that under 28% of gross income takes about $40,041 a year.
More about Barnum
- Mortgage Refinance in Barnum
- Debt Relief in Barnum
- Home Equity Loans in Barnum
- 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