Market Overview
Home Prices in Promise City, IA
The median home value in Promise City, IA is $225,658 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 15.9% compared to a year ago and down 0.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Promise City are priced45% below average.
Price History
Promise City Home Price Trend
2022
$195,710
$196K
—
2023
$198,216
$198K
+1.3%
2024
$195,259
$195K
-1.5%
2025
$194,776
$195K
-0.2%
2026
$225,658
$226K
+15.9%
City Comparison
Promise City vs. National Median
🏠 Promise City
$225,658
National Median
$410,000
At $225,658, homes in Promise City cost 45% below the national median of $410,000. This makes Promise City a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Promise City?
20% Down Payment
$45,132
on $225,658
Monthly P&I
$1,177/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,495/mo
incl. taxes & insurance
Income Needed
$59,800
gross annual (30% rule)
10% Down Option
$22,566
+ PMI applies
Loan Amount (20% dn)
$180,526
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 Promise City, IA?
The median home value in Promise City is $225,658 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 15.9% year-over-year.
How much have home prices changed in Promise City?
Over the past year, home values in Promise City have increased by 15.9%.
How much do I need to earn to buy a home in Promise City?
To comfortably afford the median home price of $225,658 with a 20% down payment ($45,132) at today's rates (6.8%), you'd need a gross annual income of approximately $59,800. This assumes keeping total housing costs at or below 30% of gross income.
How does Promise City compare to the national average home price?
The national median home value is approximately $410,000. At $225,658, homes in Promise City are 45% below the national average.