Market Overview
Home Prices in Packwood, IA
The median home value in Packwood, IA is $160,581 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 13.7% compared to a year ago and down 1.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Packwood are priced61% below average. Packwood is part of the Fairfield, IA metro area.
Over the past five years, Packwood home values have risen by approximately29.5%, reflecting strong long-term appreciation in this market.
Price History
Packwood Home Price Trend
City Comparison
Packwood vs. National Median
At $160,581, homes in Packwood cost 61% below the national median of $410,000. This makes Packwood a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Packwood?
20% Down Payment
$32,116
on $160,581
Monthly P&I
$837/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,063/mo
incl. taxes & insurance
Income Needed
$42,520
gross annual (30% rule)
10% Down Option
$16,058
+ PMI applies
Loan Amount (20% dn)
$128,465
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 Packwood, IA?
The median home value in Packwood is $160,581 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 13.7% year-over-year.
How much have home prices changed in Packwood?
Over the past year, home values in Packwood have increased by 13.7%. Over five years, prices have risen approximately 29.5%.
How much do I need to earn to buy a home in Packwood?
To comfortably afford the median home price of $160,581 with a 20% down payment ($32,116) at today's rates (6.8%), you'd need a gross annual income of approximately $42,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Packwood compare to the national average home price?
The national median home value is approximately $410,000. At $160,581, homes in Packwood are 61% below the national average.
What metro area is Packwood part of?
Packwood is part of the Fairfield, IA metropolitan area. Home prices and market conditions can vary across the broader metro region.