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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Carter Lake, IA Housing Affordability Index

Carter Lake, Iowa has an MBR Housing Affordability Index score of 152.4 (Highly Affordable) as of October 30, 2026, ranking 593rd most affordable of 891 scored Iowa cities, compared with 126.4 statewide and 97.4 nationally. On a median-priced $169,400 home with 20% down, the Iowa average 30-year fixed rate of 7.17% means a monthly principal and interest payment of about $917, or 13% of the city’s $85,349 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Carter Lake is updated every night from live Iowa mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Carter Lake MBR-HAI 152.4 Highly Affordable
Rank in Iowa 593 of 891 1 = most affordable
Iowa 126.4 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.17% Iowa lenders
Median home value $169,400 U.S. Census Bureau

Carter Lake is 26.0 points above the Iowa score. Scores as of October 30, 2026. See the Iowa index

View Carter Lake Mortgage Rates

What It Takes to Buy in Carter Lake

$917/mo
Principal & Interest
Median home, 20% down, 7.17%
$39,300
Income Needed
To keep the payment at 28% of income
$85,349
Median Household Income
Iowa: $75,059
2.0x
Price-to-Income Ratio
Iowa: 2.8x
$1,112/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$2,872/yr
Median Property Tax
1.70% of median value
15.7%
Owner Cost Burden
Owners spending 30%+ of income on housing
77.6%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Carter Lake, Iowa. The rate is the Iowa average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Carter Lake Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Carter Lake, Iowa score: 152.4 (Highly Affordable), ranked 593 of 891 Iowa cities. monitorbankrates.com/housing-affordability-index/iowa/carter-lake”