Mortgage Calculator & Closing Costs: Council Bluffs, IA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Council Bluffs, Iowa.
Median Home Price
$175K
Population
62K
Avg Monthly Rent
$880
Property Tax Rate
1.52% *
* Property tax shown is the Iowa state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Council Bluffs.
Council Bluffs vs Iowa Median
The median home price in Council Bluffs is $175,000, which is 17% below the Iowa state median of $210,000.
Mortgage Calculator — Council Bluffs, IA
Pre-filled with Council Bluffs median home price and Iowa tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $175K home using Iowa's 1.52% tax rate and $1,800/yr insurance.
5% Down
$1,519/mo
Down: $8,750
Loan: $166K
P&I: $1,051
Tax: $222
Insurance: $150
PMI: $97
10% Down
$1,459/mo
Down: $17,500
Loan: $158K
P&I: $996
Tax: $222
Insurance: $150
PMI: $92
20% Down (No PMI)
$1,257/mo
Down: $35,000
Loan: $140K
P&I: $885
Tax: $222
Insurance: $150
Income needed (28% rule): $54K/year with 20% down, $63K/year with 10% down.
Rent vs Buy in Council Bluffs
Rent
$880/mo
vs
Buy (10% down)
$1,459/mo
Price-to-rent ratio: 16.6 — A ratio between 15-20 means the rent vs buy decision in Council Bluffs depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Council Bluffs is $175,000, 17% below the Iowa state median of $210,000. With a population of 62,230, Council Bluffs is a smaller market where home prices tend to be more accessible than in many parts of Iowa.
Property taxes in Iowa average 1.52% annually. This higher-than-average tax rate means a $175,000 home in Council Bluffs would carry roughly $222/month in property taxes alone — plan accordingly. Homeowners insurance in Iowa runs approximately $1,800 per year. This is within the normal range nationally.
Average rent in Council Bluffs is $880/month. The price-to-rent ratio in Council Bluffs is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Council Bluffs offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Iowa's IFA FirstHome program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Council Bluffs.