Mortgage Calculator & Closing Costs: Fort Dodge, IA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Fort Dodge, Iowa.
Median Home Price
$135K
Population
25K
Avg Monthly Rent
$680
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 Fort Dodge.
Fort Dodge vs Iowa Median
The median home price in Fort Dodge is $135,000, which is 36% below the Iowa state median of $210,000.
Mortgage Calculator — Fort Dodge, IA
Pre-filled with Fort Dodge median home price and Iowa tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $135K home using Iowa's 1.52% tax rate and $1,800/yr insurance.
5% Down
$1,206/mo
Down: $6,750
Loan: $128K
P&I: $811
Tax: $171
Insurance: $150
PMI: $75
10% Down
$1,160/mo
Down: $13,500
Loan: $122K
P&I: $768
Tax: $171
Insurance: $150
PMI: $71
20% Down (No PMI)
$1,004/mo
Down: $27,000
Loan: $108K
P&I: $683
Tax: $171
Insurance: $150
Income needed (28% rule): $43K/year with 20% down, $50K/year with 10% down.
Rent vs Buy in Fort Dodge
Rent
$680/mo
vs
Buy (10% down)
$1,160/mo
Price-to-rent ratio: 16.5 — A ratio between 15-20 means the rent vs buy decision in Fort Dodge 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 Fort Dodge is $135,000, 36% below the Iowa state median of $210,000. With a population of 24,871, Fort Dodge 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 $135,000 home in Fort Dodge would carry roughly $171/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 Fort Dodge is $680/month. The price-to-rent ratio in Fort Dodge is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Fort Dodge 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 Fort Dodge.