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City · 7,607 residents · Cerro Gordo County, Iowa

Clear Lake , Iowa

In Clear Lake, a typical home is worth $259,500 and typical rent is $808 a month. Compared with all of Cerro Gordo County, the typical home value is 56% higher, typical household income is 16% higher, and the share of households that own their home is 6 points higher.

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  • Typical home value

    $259,500

    56% above the county

    25% above Iowa

    • Clear Lake
    • Cerro Gordo
    • Iowa

  • Typical rent

    $808a month

    5% below the county

    17% below Iowa

    • Clear Lake
    • Cerro Gordo
    • Iowa

  • Typical household income

    $79,415a year

    16% above the county

    6% above Iowa

    • Clear Lake
    • Cerro Gordo
    • Iowa

  • Households that own their home

    76%

    6 points above the county

    5 points above Iowa

    • Clear Lake
    • Cerro Gordo
    • Iowa

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$340,301
4.5% more than 12 months ago
Typical rent
$1,075 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Clear Lake is in Cerro Gordo County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Cerro Gordo County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Clear Lake apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Charles City, the typical home value is $115,400: 56% less than in Clear Lake ($259,500).

  2. The typical home in Clear Lake is worth $259,500, 56% more than in Cerro Gordo County as a whole ($166,400).

  3. Clear Lake has the 6th smallest share of rent-burdened renters of the 81 cities in Iowa with more than 5,000 people (32%).

  4. The typical household income in Clear Lake is $79,415, 16% more than in Cerro Gordo County as a whole ($68,189).

  5. 76% of households in Clear Lake own their home, against 70% in Cerro Gordo County.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Clear Lake

What homes there are in Clear Lake, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is still the most common home in Clear Lake, but it weighs less than in Cerro Gordo County: 68% against 77%.

There are more mobile homes here than in Cerro Gordo County: 8% of homes, against 3%.

Year built

Here half of the homes date from 1974 or later; in Cerro Gordo County, from 1959 or later.

Much as in Cerro Gordo County, 60% of homes in Clear Lake have 3 bedrooms or more.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes

The FHA loan limit for Cerro Gordo County is $541,287, and about 86% of owner-occupied homes in Clear Lake are worth less than that.

Monthly rent with utilities

With a mortgage

$1,598 a month

Cerro Gordo County: $1,365 a month

Without a mortgage

$666 a month

Cerro Gordo County: $581 a month

Owners with a mortgage

55%

Cerro Gordo County: 56%

In Clear Lake, 55% of owners have a mortgage, and their typical cost is $1,598 a month, against $1,365 in Cerro Gordo County. Without one it drops to $666.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Since 2015–2019, homes in Clear Lake gained value faster than in Cerro Gordo County: 66% against 29%.

The typical rent in Clear Lake rose 30% over the same time; in Cerro Gordo County, it rose 20%.

The typical household income in Clear Lake rose 37% over that time; home values changed +66% and rent +30%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureClear LakeCerro Gordo CountyIowaUnited States
Rental vacancy Unreliable estimateUnreliable estimate5.7%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.8%0.9%
More than one person per room Unreliable estimateUnreliable estimate1.6%3.4%
People per household 2.112.132.362.53
Drive alone 79%80%76%69%
Carpool 6%8%8%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimate4%3%3%
Work from home 10%7%11%15%
Other means Unreliable estimateUnreliable estimate1%2%
Typical commute Unreliable estimate10 to 19 minutes10 to 19 minutes20 to 29 minutes

A household in Clear Lake has 2.11 people on average, about the same as in Cerro Gordo County (2.13).

Many people here do not commute at all: 10% work from home; in Cerro Gordo County, 7%.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Clear Lake?

A typical home is tight for the typical income

We start with a typical home in Clear Lake, worth $259,500, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 34% of the typical household income in Clear Lake, which is $79,415 a year. For that payment to be 28% of income, a household would need to earn about $95,299 a year.

The calculator's FHA and conventional loan limits are those of all of Cerro Gordo County.

Your numbers

Local data
$

Starts at the typical home value in Clear Lake. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $9,083 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,224

at 7.18% · 30 years

Loan amount
$254,799
Total interest
$366,596
Paid off in
November 2056

Includes $4,382 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $1,853 a month

  • Tight

    $1,853 to $2,382 a month

    Your payment · 34%

  • Hard

    more than $2,382 a month

Compared with the typical household income in Clear Lake ($79,415 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,224
Principal & interest$1,726
Property tax$275
Home insurance$108
FHA mortgage insurance (MIP)$115

You need at least $9,083 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Clear Lake and Cerro Gordo County

Clear Lake is in Cerro Gordo County, Iowa. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Clear Lake's own numbers

Typical home value
$259,500
Typical monthly rent
$808
Typical yearly household income
$79,415
Households that own their home
76%
Effective property tax rate
1.27%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Cerro Gordo County

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$927
Price change over 5 years (FHFA)
+40%
Homes in a high flood-risk zone
1.8%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Cerro Gordo County.

Everything about Cerro Gordo County

Buying

Buying a home in Clear Lake

A typical home in Clear Lake is worth $259,500: 56% above the county and 25% above Iowa. With the typical household income in Clear Lake ($79,415 a year), a typical home costs 3.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Clear Lake 3.3 years
  • Cerro Gordo 2.4 years
  • Iowa 2.8 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Cerro Gordo County

According to FHFA’s house price index, home prices in Cerro Gordo County rose 64% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Cerro Gordo County.

Period County Iowa U.S.
Last year (2025) +1.5% +3.2% +2.9%
5 years (2020–2025) +40% +41% +47%
10 years (2015–2025) +64% +65% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Clear Lake next to Cerro Gordo County, Iowa and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Clear Lake $259,500
  • Cerro Gordo $166,400
  • Iowa $208,000
  • United States $332,700
Typical monthly rent
  • Clear Lake $808
  • Cerro Gordo $850
  • Iowa $972
  • United States $1,413
Typical yearly household income
  • Clear Lake $79,415
  • Cerro Gordo $68,189
  • Iowa $75,059
  • United States $80,734
See the full table
Clear Lake next to Cerro Gordo County and Iowa
Measure Clear Lake Cerro Gordo County Iowa U.S.
Typical home value $259,500 $166,400 $208,000 $332,700
Typical monthly rent $808 $850 $972 $1,413
Typical yearly household income $79,415 $68,189 $75,059 $80,734
Households that own their home 76% 70% 72% 65%
Typical yearly property tax $3,307 $2,410 $2,897 $3,119
Effective property tax rate 1.27% 1.45% 1.39% 0.94%
Renters with high rent for their income 32% 35% 44% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Cerro Gordo County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Clear Lake

For a typical $259,500 home in Clear Lake, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Clear Lake's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,224a month

    Least cash to close
    Down payment
    $9,083
    Cash to close
    $16,868
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $115

  • Conventional, 5% down $2,176a month

    Down payment
    $12,975
    Cash to close
    $20,760
    Rate
    7.18%
    Mortgage insurance
    PMI · $123

  • Conventional, 20% down, no PMI $1,789a month

    Down payment
    $51,900
    Cash to close
    $59,685
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,029a month

    Down payment
    $38,925
    Cash to close
    $46,710
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Clear Lake and for Cerro Gordo County.

Property tax

Effective rate in Clear Lake

1.27%of the home’s value each year

$3,307 a year for the typical owner in Clear Lake.

  • Clear Lake 1.27%
  • Cerro Gordo 1.45%
  • Iowa 1.39%

What Iowa publishes Homestead exemption: 10% of taxable value (Iowa Department of Revenue)

Exemptions and deadlines in Iowa

Flood risk in Cerro Gordo County

FEMA does not publish these numbers by city: they are for all of Cerro Gordo County.

Homes in the high-risk zone
1.8%
417
Of those, with NFIP insurance
12%
County Iowa U.S.
Homes in the high-risk zone 1.8% 2.2% 3.5%
Of those, with NFIP insurance 12% 14% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Clear Lake

Typical rent in Clear Lake is $808 a month: 5% below the county. In Clear Lake, 32% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Cerro Gordo County, by unit size. To pay the 2-bedroom one ($927 a month) without spending more than 30% of your income, you would need to earn $17.83 an hour working full time.

HUD fair market rent for all of Cerro Gordo County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $744 $14.31 $29,760
1 bedroom $749 $14.40 $29,960
2 bedrooms $927 $17.83 $37,080
3 bedrooms $1,218 $23.42 $48,720
4 bedrooms $1,485 $28.56 $59,400

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Clear Lake

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Clear Lake is in ZIP code 50428.

For 2 bedrooms it is $930: $3 more than the fair market rent for Cerro Gordo County ($927).

  • 50428 $930$1,220

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Clear Lake when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Clear Lake

HUD lists 4 buildings with rents for lower incomes in Clear Lake. These are the largest.

  • Lakeland Park Apartments 210 W 10th Ave N, Clear Lake 50428 56 low-income homes · For older adults (712) 255-3665
  • Meadow Lake Apts 1109 Buddy Holly Pl, Clear Lake 50428 32 homes, 31 low-income · 1 bd: 1 · 2 bd: 17 · 3 bd: 14 · In service since 2001 · For people with disabilities, families
  • Lake Plaza Apts I 20 N 4th St, Clear Lake 50428 24 homes, 23 low-income · 1 bd: 14 · 2 bd: 9 · In service since 2005 · For older adults
  • Lake Plaza Apts II 20 N 4th St, Clear Lake 50428 23 low-income homes · 1 bd: 19 · 2 bd: 4 · In service since 2006 · For older adults

See all 17 buildings in Cerro Gordo County Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Clear Lake

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

We found no HUD-approved agencies with an office in Cerro Gordo County. The nearest ones are below; many serve by phone or online.

Two women and a girl laugh together at the bus stop.

HUD counseling is free or low-cost

Assistance programs in Clear Lake

No down payment, repair or rent-help program on our list is for Clear Lake or Cerro Gordo County. The ones below are statewide in Iowa: they work in Clear Lake the same as in the rest of the state.

Which programs do I qualify for? All programs in Iowa

Housing counselors near Clear Lake

The HUD-approved agencies closest to the center of Clear Lake, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Family Management Financial Solutions, Inc.

    2310 Falls Ave Ste 4, Waterloo · 67 miles away

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (319) 234-6695

  • CCCS of Rochester-Northeastern Iowa

    1003 W 4th St, Waterloo · 69 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 3 more
    (800) 714-4388

  • Home Opportunities Made Easy, Inc. (home, Inc.)

    1618 6th Ave, Des Moines · 106 miles away · Spanish

    • Home improvement and repairs
    • Homelessness services
    • and 5 more
    (515) 243-1277

All counseling agencies in Iowa

Help in Spanish near Clear Lake

2 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Clear Lake

In HUD’s record, no housing authority with an office in Cerro Gordo County is named for Clear Lake or Cerro Gordo County.

2 other authorities have an office in Cerro Gordo County: see the list Source: HUD

Cities

Other cities in Cerro Gordo County

These cities are also in Cerro Gordo County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Cerro Gordo County Housing in Iowa

Nearby cities

The cities closest to Clear Lake, with the typical home value.

Neighboring counties

If Cerro Gordo County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Clear Lake.

All guides
A mother holding her baby watches her daughter blow bubbles outdoors.

Questions

Housing questions about Clear Lake

Short answers with the numbers for Clear Lake and all of Cerro Gordo County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Clear Lake?

The typical home value in Clear Lake is $259,500, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Cerro Gordo County it is $166,400.

How much does it cost to rent in Clear Lake?

Typical rent in Clear Lake is $808 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Cerro Gordo County is $927.

What is the FHA loan limit in Clear Lake?

Clear Lake uses the FHA limit for all of Cerro Gordo County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Clear Lake?

The typical homeowner in Clear Lake pays $3,307 a year, according to the U.S. Census Bureau. That is 1.27% of the home’s value; in Cerro Gordo County, the rate is 1.45%.

Where can I find free help to buy or rent in Clear Lake?

We found no HUD-approved counseling agencies with an office in Cerro Gordo County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).