Market Overview
Home Prices in Peterson, IA
The median home value in Peterson, IA is $171,105 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 7.2% compared to a year ago and up 7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Peterson are priced58% below average. Peterson is part of the Spencer, IA metro area.
Over the past five years, Peterson home values have risen by approximately39.6%, reflecting strong long-term appreciation in this market.
Price History
Peterson Home Price Trend
City Comparison
Peterson vs. National Median
At $171,105, homes in Peterson cost 58% below the national median of $410,000. This makes Peterson a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Peterson?
20% Down Payment
$34,221
on $171,105
Monthly P&I
$892/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,133/mo
incl. taxes & insurance
Income Needed
$45,320
gross annual (30% rule)
10% Down Option
$17,111
+ PMI applies
Loan Amount (20% dn)
$136,884
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 Peterson, IA?
The median home value in Peterson is $171,105 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 7.2% year-over-year.
How much have home prices changed in Peterson?
Over the past year, home values in Peterson have increased by 7.2%. Over five years, prices have risen approximately 39.6%.
How much do I need to earn to buy a home in Peterson?
To comfortably afford the median home price of $171,105 with a 20% down payment ($34,221) at today's rates (6.8%), you'd need a gross annual income of approximately $45,320. This assumes keeping total housing costs at or below 30% of gross income.
How does Peterson compare to the national average home price?
The national median home value is approximately $410,000. At $171,105, homes in Peterson are 58% below the national average.
What metro area is Peterson part of?
Peterson is part of the Spencer, IA metropolitan area. Home prices and market conditions can vary across the broader metro region.