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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

Merrill, IA Housing Affordability Index

Merrill, Iowa has an MBR Housing Affordability Index score of 230.1 (Highly Affordable) as of October 30, 2026, ranking 162nd most affordable of 891 scored Iowa cities, compared with 126.4 statewide and 97.4 nationally. On a median-priced $166,100 home with 20% down, the Iowa average 30-year fixed rate of 7.17% means a monthly principal and interest payment of about $899, or 13% of the city’s $82,969 median household income.

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

Merrill MBR-HAI 230.1 Highly Affordable
Rank in Iowa 162 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 $166,100 U.S. Census Bureau

Merrill is 103.8 points above the Iowa score. Scores as of October 30, 2026. See the Iowa index

View Merrill Mortgage Rates

What It Takes to Buy in Merrill

$899/mo
Principal & Interest
Median home, 20% down, 7.17%
$38,500
Income Needed
To keep the payment at 28% of income
$82,969
Median Household Income
Iowa: $75,059
2.0x
Price-to-Income Ratio
Iowa: 2.8x
$1,076/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$1,510/yr
Median Property Tax
0.91% of median value
10.0%
Owner Cost Burden
Owners spending 30%+ of income on housing
3.5%
Renter Cost Burden
Renters spending 30%+ of income on rent

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

Cite the Merrill Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Merrill, Iowa score: 230.1 (Highly Affordable), ranked 162 of 891 Iowa cities. monitorbankrates.com/housing-affordability-index/iowa/merrill”