Iowa Debt Overview
| Metric | Iowa | US Average |
|---|---|---|
| Avg household debt (ex-mortgage) | $38,900 | $44,200 |
| Median home value | $213,000 | $308,000 |
| Property tax rate | 1.57% | 1.08% |
| State income tax | 4.4% | varies |
Payoff Time: $38900 Debt at 20% APR
| Monthly Payment | Payoff Time | Total Interest |
|---|---|---|
| $778/mo | 9yr 1mo | ~$45,436 |
| $1,167/mo | 4yr 2mo | ~$18,354 |
| $1,556/mo | 2yr 9mo | ~$11,842 |
| $1,945/mo | 2yr 1mo | ~$8,815 |
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What is the average debt in Iowa?
The average household debt in Iowa (excluding mortgage) is approximately $38,900.
Does Iowa income tax affect debt repayment?
Iowa's income tax of 4.4% reduces take-home pay, making it important to budget carefully for debt payments.
Related: Snowball Calculator