Cost of Living in Clay County, Iowa
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Clay County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Clay County ranks #617 of 3,144 counties for affordability (top 20%)
Data Story
About Cost of Living in Clay County, Iowa
Clay County rents strain household budgets
Clay County's rent-to-income ratio of 14.9% edges above Iowa's state average of 14.1%, squeezing renters despite below-average wages of $64,082. Housing costs consume a notably higher share here than in better-balanced markets, requiring careful financial planning.
Middle-of-the-road affordability in Iowa
Clay County's 14.9% rent-to-income ratio places it slightly above Iowa's state average, ranking it in the less-affordable tier of the state's counties. Monthly rent of $798 runs close to the state median of $812, suggesting typical regional pricing.
Rents moderate, but ownership pricey
Clay County's $798 rent is middle-of-the-pack regionally, but median home values of $171,500 rank among the highest in this eight-county group. This split suggests strong homeowner demand pushing property values up while rental market remains steady.
Owner costs jump $115 above rent
Renters spend $798 monthly while homeowners allocate $913, a $115 gap reflecting the county's elevated property values. With median home values of $171,500 and median income of $64,082, homeownership requires substantial down-payment savings or outside financial support.
Clay County works best for renters with capital
If relocating to Clay County appeals, expect modest rents ($798) but expensive homeownership ($171,500 median value)—a mismatch for aspiring owners on local wages. Compare against Cherokee or Crawford if affordability is your priority, or against Chickasaw if you seek wage-to-housing balance.
Cost of Living Advisory: Clay County
Affordability Verdict
Housing in Clay County is affordable. The median rent is $798/month against a median household income of $64,082, putting rent at 14.9% of income.
Rent vs. Own
Renters in Clay County pay $798/month on average, compared to $913/month for homeowners. This market favors renters by about 13%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $31,920/year. For owner costs at the 28% rule, the required income is roughly $39,129/year. With a median household income of $64,082, most households can comfortably afford rent here. Notably, 25.0% of renter households in Clay County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Iowa, Clay County is more affordable than Ringgold County by roughly 7% ($798/mo vs $745/mo).
Affordability Calculator
See how your income compares to housing costs in Clay County
Rent Burden
14.9%
of gross income
Max Housing (28% Rule)
$1,495
per month
Owner Cost Burden
17.1%
of gross income
You can likely afford the median home in Clay County
Median home value is $171,500. Estimated monthly cost: $1,369 vs. your max of $1,495.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
$0/yr
Needed to stay within recommended threshold
Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
What is the cost of living in Clay County, Iowa?
What is the median rent in Clay County?
Is Clay County affordable?
How does Clay County's rent compare to the state average?
What is the median home value in Clay County?
Counties with Similar Housing Costs
Planning a Move?
Researching the cost of living in Clay County, Iowa? Compare moving quotes from top providers and save on your relocation.
Compare Moving QuotesCompare Mortgage Rates in Clay County
Whether you're buying your first home or refinancing, compare rates from top lenders to find the best deal.
See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
CostByCounty participates in affiliate programs. We may earn a commission when you use our links, at no extra cost to you.