Buying in Central Iowa can look simple at first glance. One county shows a lower home price, the other has stronger name recognition, and you might assume the cheaper list price means the cheaper monthly payment. In reality, homeownership costs in Story County and Boone County can be closer than they first appear, and the details matter. In this guide, you’ll see how purchase price, property taxes, utilities, and rural property costs can change your budget so you can compare homes with more confidence. Let’s dive in.
Story County vs Boone County at a glance
If you look only at county-level median numbers, Story County is the higher-cost market on the purchase side. The U.S. Census Bureau reports a median owner-occupied home value of $258,700 in Story County, compared with $212,400 in Boone County. Median selected monthly owner costs with a mortgage are also higher in Story County at $1,710 versus $1,632 in Boone County.
Without a mortgage, the gap is much smaller. Story County shows median selected monthly owner costs of $689, while Boone County comes in at $697. That is a helpful reminder that the purchase price is only one part of what you pay to own a home.
For many buyers, that means Boone County may look more affordable at entry level, while Story County may require a bit more room in your budget up front. Still, the county name alone does not tell the whole story.
Purchase price is only the starting point
When you compare homes in Story County and Boone County, the list price gives you a starting point, not a full answer. A lower purchase price can help your mortgage payment, but your real monthly cost also includes taxes, insurance, utilities, and property-specific upkeep.
That matters if you are comparing places like Ames, Nevada, Boone, Madrid, Huxley, or a rural property outside town. Two homes with similar prices can have different monthly costs based on their tax district and utility setup.
If you are a first-time buyer, this is where monthly planning becomes more important than headline pricing. If you are downsizing, it can help you avoid a home that looks smaller or cheaper but still carries higher ongoing costs.
Property taxes depend on tax district
One of the biggest takeaways in this comparison is that property taxes are driven more by the tax district than by the county line itself. In Iowa, the assessor values the home, the county auditor certifies levy rates from local budgets, and the levy is applied to taxable value.
Story County’s 2025 to 2026 tax levy information shows a residential rollback of 47.4316%. Boone County’s tax calculation page uses a sample residential rollback of 46.3428% and a sample levy of 40.13305 per $1,000 of taxable value.
Story County’s levy table shows just how much taxes can vary by location. For taxes payable in 2025 to 2026, total levies range from 19.87031 to 38.25499 per $1,000. Examples listed include Ames at 30.58245, Nevada at 34.97558, and Roland at 37.18232.
A same-price home can have very different taxes
Using the published rollback and levy figures as an illustration, a $250,000 assessed home would produce about $118,579 of taxable value in Story County and about $115,857 in Boone County under Boone’s sample rollback. From there, the tax district changes the final bill.
Based on those official figures, that same assessed value would land at roughly:
- $3,626 per year in Story County’s Ames district
- $4,147 per year in Story County’s Nevada district
- $4,650 per year in Boone County’s sample calculation
The important point is not that one county is always higher. The real lesson is that two homes with the same assessed value can end up more than $1,000 apart per year depending on the city, township, and school district tied to the property.
What to ask when comparing tax costs
Before you assume a home is more affordable, ask for a full property-specific estimate. A helpful checklist includes:
- Current assessed value
- Tax district or levy area
- Estimated annual property taxes
- Any available credits already applied
- Whether the home is inside city limits or in a rural area
This is one of the easiest ways to compare homes more accurately, especially when you are deciding between Boone County and Story County options.
Utility costs can shift your monthly budget
Utilities are another area where monthly ownership costs can change quickly. If you are buying in town, city utility rates can make a noticeable difference. If you are buying in a rural area, you may trade monthly city utility bills for private well and septic responsibilities.
In Ames, current residential utility charges include a $14.70 water service charge per billing period plus usage, a sewer service charge of $13.73 plus $3.51 per 100 cubic feet of usage, and a stormwater fee of $5.20 per month for most utility accounts.
In Boone, the city water ordinance lists a 5/8-inch base rate of $13.11 and a residential water charge of $3.64 per 100 cubic feet above the first 1,000 cubic feet. Boone’s sewer ordinance lists a $3.28 monthly flat service rate plus $8.71 per 100 cubic feet for residential users inside city limits.
Ames and Boone utility example
At about 5,000 gallons of monthly water use, Ames’s posted water, sewer, and stormwater rates total roughly $76 per month. Boone’s posted water and sewer charges total roughly $99 per month before separate stormwater and solid-waste charges are added.
This is only a planning benchmark, not a guaranteed bill. Even so, it shows why utility setup matters when you are comparing monthly ownership costs.
Rural homes bring different expenses
If you are looking at acreage or a home outside city service areas, your budget needs a different lens. Rural living can reduce some city utility charges, but it may add private system costs that are easy to overlook.
Story County states that homes not connected to approved sewer systems need a private onsite wastewater treatment system. Its Environmental Health fee schedule lists a septic permit at $140 plus a $100 site review. Story County also offers free well-water testing for private well owners and notes that limited reimbursement may be available for qualifying well work.
Boone County’s Health and Sanitation information lists septic permits at $200 if a percolation test is required or $125 if no perc test is needed. Boone County also offers private well-water testing and septic-system maintenance guidance.
Why rural cost comparisons need extra care
A rural home may look like the bargain on paper, especially if the list price is lower than a comparable in-town property. But you may be taking on septic maintenance, well upkeep, and system-related costs that do not show up in a quick online payment calculator.
That does not make rural ownership a bad deal. It simply means you should compare full operating costs, not just the mortgage payment.
Homeowners insurance is quote-driven
Insurance is one more reason a county-to-county comparison should stay flexible. The Iowa Insurance Division notes that homeowners insurance pricing depends on factors such as home value, construction type, age, deductible, claims history, and local fire protection. Distance to hydrants, fire department quality, and water supply can also affect pricing.
The same source also notes that flood and earthquake are generally not covered by a standard homeowners policy. That makes it even more important to review coverage details, not just premium estimates.
Public statewide estimates vary. One recent estimate places Iowa homeowners insurance at about $3,765 per year, or about $314 per month. Another analysis implies about $2,362 per year, or roughly $197 per month. Because methods differ, the safest way to budget is to treat insurance as a quote-driven line item rather than a fixed county cost.
What can raise insurance costs
Some homes may price above statewide averages, including:
- Older homes
- Rural properties
- Homes with larger replacement costs
- Properties with different fire protection access
- Homes with higher-risk system or construction factors
If you are comparing a Boone County home to one in Story County, getting insurance quotes early can save you from surprises later.
How to compare the true monthly cost
The strongest way to compare Story County and Boone County is to build a full monthly carrying estimate for each home. That gives you a more honest picture than list price alone.
Include these line items in your comparison:
- Mortgage payment
- Property taxes
- Homeowners insurance
- Water and sewer charges if applicable
- Trash or solid-waste charges if applicable
- Stormwater fees if applicable
- Well or septic upkeep for rural homes
This approach works well whether you are buying your first home, relocating, or downsizing. It can also help you decide whether a higher-priced home in one area may actually fit your budget better over time.
Which county is more affordable?
The short answer is that Story County generally trends higher on home value and monthly ownership cost with a mortgage, while Boone County often offers a lower entry price. But there is no one-size-fits-all winner.
A home in Story County may have lower taxes than a similar home in a different tax district. A Boone County home may start with a lower price but carry higher utility or tax costs than you expected. A rural property in either county may trade city bills for well and septic responsibilities.
That is why the smartest comparison is not county versus county in the abstract. It is home versus home, with the full monthly picture in view.
If you want help comparing specific homes in Boone, Ames, Nevada, Huxley, Madrid, Ogden, or nearby towns, working with a local agent can make the numbers much easier to sort through. When you are ready for practical, local guidance, reach out to Insun Colerick for a free consultation.
FAQs
How do Story County and Boone County home prices compare?
- Story County has the higher median owner-occupied home value at $258,700, while Boone County is at $212,400 based on Census Bureau QuickFacts data.
How do Story County and Boone County monthly ownership costs compare?
- With a mortgage, median monthly owner costs are $1,710 in Story County and $1,632 in Boone County. Without a mortgage, they are much closer at $689 in Story County and $697 in Boone County.
Why are property taxes different within Story County or Boone County?
- Property taxes can vary based on the city, township, and school district tied to the property, so the tax district often matters more than the county label alone.
Are utilities cheaper in Ames or Boone?
- Based on posted city rates and an estimate using about 5,000 gallons of monthly water use, Ames totals roughly $76 per month for water, sewer, and stormwater, while Boone totals roughly $99 per month for water and sewer before separate stormwater and solid-waste charges are added.
What extra costs should you expect with a rural home in Story County or Boone County?
- Rural homes may involve private well and septic costs, including permits, maintenance, and property-specific system expenses that do not apply to many in-town homes.
Is homeowners insurance lower in Boone County than Story County?
- Homeowners insurance is not set by county alone. Rates depend on factors like home value, age, construction, deductible, claims history, and local fire protection, so the best way to compare is to get property-specific quotes.
