How Much House Can I Afford on a 70k Income in Iowa?
With a 70k income, you're right on target for purchasing a home in Iowa. Financial advisors recommend spending about 3 to 4 times your annual income on a home, which translates to a budget between $210,000 and $280,000.
In Des Moines, the median home price is approximately $240,000, fitting neatly within your target range. This balance ensures a wide variety of quality homes are available to you.
Additionally, other cities like Cedar Rapids and Davenport offer appealing options at around $210,000. With a property tax rate of 1.25%—amounting to roughly $3,000 per year—and a cost of living below the national average, your income comfortably supports homeownership across the state.