Compare Ames, IA mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Ames.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Ames. Plus, shopping lenders is free and there is no obligation.
August 28, 2025
Below we provide helpful information on the real estate market, home prices and housing affordability in Ames. Understand how much you need to earn to afford a home in Ames, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Ames fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Ames is right for you.
The median home value for Ames, IA (Story County) is $249,854
Based on current mortgage rates and a 10% down payment, you need to make $52,124 per year to buy the median priced home in Ames
With this income, you could qualify for a $224,869 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Ames is $1,207
The median household income for Ames, IA (Story County) is $64,705
Based on this income, you can afford a home valued at approximately $310,163
The home price you can afford to buy based on household income in Ames is 124% of the median home value which means housing prices are average. Ames (Story County) ranks 98 out of 99 counties in Iowa and 2,442 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Ames, IA is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Ames (Story County) below.
Conforming loan limits for Ames, IA
FHA loan limits for Ames, IA