MonitorBankRates
☰
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

Elkhart, IA Housing Affordability Index

Elkhart, Iowa has an MBR Housing Affordability Index score of 113.8 (More Affordable Than Average) as of October 30, 2026, ranking 855th most affordable of 891 scored Iowa cities, compared with 126.4 statewide and 97.4 nationally. On a median-priced $253,900 home with 20% down, the Iowa average 30-year fixed rate of 7.17% means a monthly principal and interest payment of about $1,375, or 20% of the city’s $84,554 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Elkhart 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.

Elkhart MBR-HAI 113.8 More Affordable Than Average
Rank in Iowa 855 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 $253,900 U.S. Census Bureau

Elkhart is 12.6 points below the Iowa score. Scores as of October 30, 2026. See the Iowa index

View Elkhart Mortgage Rates

What It Takes to Buy in Elkhart

$1,375/mo
Principal & Interest
Median home, 20% down, 7.17%
$58,900
Income Needed
To keep the payment at 28% of income
$84,554
Median Household Income
Iowa: $75,059
3.0x
Price-to-Income Ratio
Iowa: 2.8x
$1,602/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$3,901/yr
Median Property Tax
1.54% of median value
24.2%
Owner Cost Burden
Owners spending 30%+ of income on housing
42.4%
Renter Cost Burden
Renters spending 30%+ of income on rent

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

Cite the Elkhart Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Elkhart, Iowa score: 113.8 (More Affordable Than Average), ranked 855 of 891 Iowa cities. monitorbankrates.com/housing-affordability-index/iowa/elkhart”