Cost of Living in Mills County, Iowa
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Mills County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Mills County ranks #1,930 of 3,144 counties for affordability (bottom 39%)
Data Story
About Cost of Living in Mills County, Iowa
Mills County rents remain affordable
Mills County renters spend 12.1% of their income on rent, well below the national norm of roughly 15-20% that housing experts flag as the affordability threshold. With a median household income of $87,810—17% above the national median of $74,755—residents here enjoy stronger purchasing power than most Americans.
Best rental affordability in Iowa
Mills County ranks among Iowa's most affordable counties for renters, with a rent-to-income ratio of 12.1% compared to the state average of 14.1%. Renters here pay $888 monthly against the state median rent of $812, yet their incomes are substantially higher, creating favorable affordability conditions.
Mills outpaces similar Iowa counties
Mills County renters spend $888 monthly versus $787 in Monroe County and $795 in Monona County, but Mills residents earn significantly more, making housing costs proportionally easier to manage. Mitchell County offers slightly cheaper rent at $739, but its lower median income of $68,704 means residents shoulder a heavier affordability burden.
Balanced housing costs across types
Mills County households allocate 12.1% of income to rent ($888/month) and owners invest $1,241 monthly toward mortgages on homes valued at $228,700. The county's relatively even split between rental and ownership costs reflects a stable housing market where both pathways remain accessible.
Strong income meets moderate housing costs
If you're relocating to Iowa, Mills County offers above-average incomes paired with below-average housing cost burdens—a rare combination in the region. Compare this profile to neighboring counties: you'll find Mills offers competitive rental rates with the financial flexibility that higher wages provide.
Cost of Living Advisory: Mills County
Affordability Verdict
Mills County offers affordable rental housing at a median of $888/month — about 12.1% of the typical household income here.
Rent vs. Own
At $888/month rent versus $1,241/month in owner costs, renting is roughly $353/month cheaper — a 28% difference.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $35,520/year. For owner costs at the 28% rule, the required income is roughly $53,186/year. With a median household income of $87,810, most households can comfortably afford rent here. Notably, 24.0% of renter households in Mills County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Compared to Clarke County where rent averages $836/month, Mills County is approximately 6% more expensive.
Affordability Calculator
See how your income compares to housing costs in Mills County
Rent Burden
12.1%
of gross income
Max Housing (28% Rule)
$2,049
per month
Owner Cost Burden
17.0%
of gross income
You can likely afford the median home in Mills County
Median home value is $228,700. Estimated monthly cost: $1,826 vs. your max of $2,049.
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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