Cost of Living in Fayette County, Iowa
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Fayette County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Fayette County ranks #864 of 3,144 counties for affordability (top 27%)
Data Story
About Cost of Living in Fayette County, Iowa
Fayette's rent burden tops national average
Fayette County renters spend 16.6% of their income on housing, outpacing the national average by about 2 percentage points. While the median rent of $813 is affordable in absolute terms, household incomes of $58,764—about 21% below the national median—make that burden heavier here than across the country.
Above-average housing pressure in Iowa
Fayette ranks among Iowa's least affordable counties, with a rent-to-income ratio of 16.6% compared to the state average of 14.1%. This positions the county in the upper tier of housing cost burden across Iowa's 99 counties.
Neighbor counties offer cheaper rents
Fayette's median rent of $813 is higher than adjacent Franklin County ($649) and Floyd County ($672), though comparable to Greene County ($774). Renters in Fayette pay notably more than their neighbors despite similar income levels, suggesting a local market premium.
Housing consumes over a sixth of income
The typical Fayette household earns $58,764 annually while dedicating roughly $813 monthly to rent or $870 to homeownership costs. That means 16.6% of gross income flows to rent alone—leaving less for utilities, food, transportation, and other necessities.
Considering Fayette? Compare your options.
If affordability is your priority, neighboring Franklin and Floyd counties offer lower rents without sacrificing rural Iowa living. Before relocating, calculate your personal rent-to-income ratio: if it exceeds 20%, you may find better value just over the county line.
Cost of Living Advisory: Fayette County
Affordability Verdict
Housing in Fayette County is affordable. The median rent is $813/month against a median household income of $58,764, putting rent at 16.6% of income.
Rent vs. Own
The median rent in Fayette County is $813/month, while owner costs run $870/month. Renting saves approximately $57/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $32,520/year. For owner costs at the 28% rule, the required income is roughly $37,286/year. With a median household income of $58,764, most households can comfortably afford rent here. Notably, 28.0% of renter households in Fayette County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Poweshiek County where rent averages $864/month, Fayette County is approximately 6% less expensive.
Affordability Calculator
See how your income compares to housing costs in Fayette County
Rent Burden
16.6%
of gross income
Max Housing (28% Rule)
$1,371
per month
Owner Cost Burden
17.8%
of gross income
You can likely afford the median home in Fayette County
Median home value is $130,800. Estimated monthly cost: $1,044 vs. your max of $1,371.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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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
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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