Income needed to buy a home
Madison County, IA
$118,459
a year in household income to buy the typical Madison County home with 10% down.
The monthly math
Typical home value$339,087
Down payment (10%)$33,909
Loan$305,178
Principal and interest (7.40%)$2,113/mo
Property tax (1.25% a year)$354/mo
Homeowners insurance (estimate)$170/mo
Mortgage insurance$127/mo
Total monthly cost$2,764/mo
Income needed keeps housing at 28% of gross income, the lender rule of thumb.
What locals earn
A stretch
The typical household here earns $90,855 a year, 77% of what it takes.
In Iowa
Madison County ranks #97 of 99 for the income a home takes, from least to most.
Easiest to afford in Iowa
| County | Typical home | Income needed |
|---|---|---|
| Pocahontas County | $101,899 | $34,888 |
| Appanoose County | $118,881 | $41,110 |
| Lee County | $125,776 | $44,079 |
| Wapello County | $131,712 | $46,563 |
| Wright County | $136,258 | $47,713 |
Typical home value from the Zillow Home Value Index, August 2026. Rate is the Freddie Mac 30-year average for Oct 8, 2026. Property tax rate is total taxes paid divided by total home value in the county (U.S. Census, ACS 2020-2024). How it works.