Cost of Living in Henry County, Iowa
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Henry County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Henry County ranks #1,344 of 3,144 counties for affordability (top 43%)
Data Story
About Cost of Living in Henry County, Iowa
Henry rents are reasonable nationwide
Henry County renters spend 14.3% of income on housing, slightly above the national comfort zone but reasonable for many markets. With a median household income of $64,604 and median rent of $770, affordability is tight but manageable for working households.
Slightly above Iowa's affordability average
Henry County's 14.3% rent-to-income ratio edges past Iowa's state average of 14.1%, placing it squarely in the middle of the state's affordability spectrum. The $770 median rent sits below the state's $812 average, offering some relief despite the income-cost squeeze.
Balanced position among the region
Henry's $770 rent falls between Howard's bargain price ($699) and Hardin's steeper $814, making it a middle option regionally. Its $897 monthly mortgage is higher than most neighbors, yet the $148,600 median home value justifies the investment.
Homeownership carries more weight here
Henry's median income of $64,604 supports a reasonable 14.3% rent burden, but homebuyers face a tighter 16.7% with $897 monthly costs. The county leans more affordable for renters than owners, making it a better fit for those not yet ready to buy.
Strong for renters, challenging for buyers
If you're renting, Henry County offers solid middle-ground affordability; if you're buying, consider waiting until your down payment is larger. The $148,600 median home price is respectable, but income levels here mean homeownership requires careful planning.
Cost of Living Advisory: Henry County
Affordability Verdict
For renters in Henry County, the market is affordable. Expect to pay around $770/month in gross rent, with 27.0% of renter households considered cost-burdened.
Rent vs. Own
Renters in Henry County pay $770/month on average, compared to $897/month for homeowners. This market favors renters by about 14%.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $30,800/year. For owner costs at the 28% rule, the required income is roughly $38,443/year. With a median household income of $64,604, most households can comfortably afford rent here. Notably, 27.0% of renter households in Henry County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Henry County sits 6% less expensive than Mahaska County ($821/month) in terms of median gross rent.
Affordability Calculator
See how your income compares to housing costs in Henry County
Rent Burden
14.3%
of gross income
Max Housing (28% Rule)
$1,507
per month
Owner Cost Burden
16.7%
of gross income
You can likely afford the median home in Henry County
Median home value is $148,600. Estimated monthly cost: $1,186 vs. your max of $1,507.
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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