Market Overview
Home Prices in Cherokee, IA
The median home value in Cherokee, IA is $153,343 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.7% compared to a year ago and up 1.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Cherokee are priced63% below average.
Over the past five years, Cherokee home values have risen by approximately25.1%, reflecting strong long-term appreciation in this market.
Price History
Cherokee Home Price Trend
2020
$107,768
$108K
—
2021
$122,592
$123K
+13.8%
2022
$135,836
$136K
+10.8%
2023
$139,438
$139K
+2.7%
2024
$144,393
$144K
+3.6%
2025
$146,430
$146K
+1.4%
2026
$153,343
$153K
+4.7%
City Comparison
Cherokee vs. National Median
🏠 Cherokee
$153,343
National Median
$410,000
At $153,343, homes in Cherokee cost 63% below the national median of $410,000. This makes Cherokee a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Cherokee?
20% Down Payment
$30,669
on $153,343
Monthly P&I
$800/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,016/mo
incl. taxes & insurance
Income Needed
$40,640
gross annual (30% rule)
10% Down Option
$15,334
+ PMI applies
Loan Amount (20% dn)
$122,674
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Cherokee, IA?
The median home value in Cherokee is $153,343 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.7% year-over-year.
How much have home prices changed in Cherokee?
Over the past year, home values in Cherokee have increased by 4.7%. Over five years, prices have risen approximately 25.1%.
How much do I need to earn to buy a home in Cherokee?
To comfortably afford the median home price of $153,343 with a 20% down payment ($30,669) at today's rates (6.8%), you'd need a gross annual income of approximately $40,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Cherokee compare to the national average home price?
The national median home value is approximately $410,000. At $153,343, homes in Cherokee are 63% below the national average.