Cost of Living in Monroe County, Iowa
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Monroe County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Monroe County ranks #666 of 3,144 counties for affordability (top 21%)
Data Story
About Cost of Living in Monroe County, Iowa
Monroe County provides solid rental balance
Monroe County renters spend 13.0% of income on housing, comfortably within the national affordability sweet spot and below the 15-20% stress threshold. With a median household income of $72,518—just slightly below the national average of $74,755—residents maintain reasonable financial flexibility for housing costs.
Better than Iowa's state average
Monroe County's rent-to-income ratio of 13.0% beats Iowa's state average of 14.1%, positioning it among the state's more livable counties for renters. At $787 monthly rent against the state median of $812, Monroe delivers below-average housing costs with near-average income levels.
Middle ground in the region
Monroe County renters pay $787 monthly with a 13.0% housing burden, placing it between lower-cost Mitchell County ($739, 12.9%) and higher-stress Monona County ($795, 15.2%). This positions Monroe as a balanced option for those seeking moderate rents without the income constraints of Monona County.
Reasonable costs across housing types
Monroe County renters spend 13.0% of their $72,518 income on $787 monthly rent, while homebuyers invest $900 monthly on properties valued at $135,900. Both pathways demand roughly equivalent proportions of income, offering renters and buyers roughly equal monthly affordability.
Stable housing market for pragmatists
Monroe County offers a reliable, middle-of-the-road housing option: modest rents, reasonable incomes, and balanced affordability across rental and ownership paths. If you're seeking a stable Iowa county without extreme cost pressures or income constraints, Monroe delivers that steady foundation.
Cost of Living Advisory: Monroe County
Affordability Verdict
For renters in Monroe County, the market is affordable. Expect to pay around $787/month in gross rent, with 32.0% of renter households considered cost-burdened.
Rent vs. Own
The median rent in Monroe County is $787/month, while owner costs run $900/month. Renting saves approximately $113/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $31,480/year. For owner costs at the 28% rule, the required income is roughly $38,571/year. With a median household income of $72,518, most households can comfortably afford rent here. Notably, 32.0% of renter households in Monroe County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Iowa, Monroe County is less affordable than Cerro Gordo County by roughly 6% ($787/mo vs $840/mo).
Affordability Calculator
See how your income compares to housing costs in Monroe County
Rent Burden
13.0%
of gross income
Max Housing (28% Rule)
$1,692
per month
Owner Cost Burden
14.9%
of gross income
You can likely afford the median home in Monroe County
Median home value is $135,900. Estimated monthly cost: $1,085 vs. your max of $1,692.
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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