Predicting noise properties of iteratively reconstructed CT images is useful for analyzing reconstruction methods; for example, local noise power spectrum (NPS) predictions may be used to quantify the detectability of an image feature, to design regularization methods, or to determine dynamic tube current adjustment during a CT scan. This paper presents a method for fast prediction of reconstructed image variance and local NPS for statistical reconstruction methods using quadratic or locally quadratic regularization. Previous methods either require impractical computation times to generate an approximate map of the variance of each reconstructed voxel, or are restricted to specific CT geometries. Our method can produce a variance map of the entire image, for locally shift-invariant CT geometries with sufficiently fine angular sampling, using a computation time comparable to a single back-projection. The method requires only the projection data to be used in the reconstruction, not a reconstruction itself, and is reasonably accurate except near image edges where edge-preserving regularization behaves highly nonlinearly. We evaluate the accuracy of our method using reconstructions of both simulated CT data and real CT scans of a thorax phantom.