Cost of Living in Story County, Iowa
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Story County Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Story County ranks #1,904 of 3,144 counties for affordability (bottom 39%)
Data Story
About Cost of Living in Story County, Iowa
Story County renters face affordability squeeze
Story County renters spend 17.7% of income on housing—the highest burden documented here—versus the national average of 14.1%. At $1,019 monthly, median rent reflects the county's college-town dynamics and limited rental supply relative to demand.
Iowa's most expensive rental market
Story County's 17.7% rent-to-income ratio significantly exceeds Iowa's 14.1% average, making it the least affordable county in this survey. Median rent of $1,019 towers $207 above Iowa's typical, driven by Iowa State University's presence and concentrated student housing demand.
College town pricing pattern
Story County's $1,019 rent far exceeds nearby Sac County ($643) and Tama County ($865), with home values of $243,600 also topping regional peers. The college-town premium reflects unique demand dynamics that distinguish Story from surrounding agricultural counties.
Housing consumes largest income share
On $69,006 median income, Story County residents dedicate 17.7% to rent or 21.6% to mortgage payments—the highest allocations in this analysis. This leaves considerably less for other expenses, creating financial strain compared to state and national averages.
Story County demands careful budgeting
Consider Story County only if job opportunities justify the housing cost premium—roughly one-fifth of income versus the state average of 14%. The trade-off: access to Iowa State jobs and amenities comes with genuine affordability challenge that requires strategic household budgeting.
Cost of Living Advisory: Story County
Affordability Verdict
Housing in Story County is affordable. The median rent is $1,019/month against a median household income of $69,006, putting rent at 17.7% of income.
Rent vs. Own
The median rent in Story County is $1,019/month, while owner costs run $1,245/month. Renting saves approximately $226/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $40,760/year. For owner costs at the 28% rule, the required income is roughly $53,357/year. With a median household income of $69,006, most households can comfortably afford rent here. Notably, 30.0% of renter households in Story County are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Iowa, Story County is more affordable than Muscatine County by roughly 5% ($1,019/mo vs $966/mo).
Affordability Calculator
See how your income compares to housing costs in Story County
Rent Burden
17.7%
of gross income
Max Housing (28% Rule)
$1,610
per month
Owner Cost Burden
21.7%
of gross income
The median home in Story County may be a stretch
Median home value is $243,600. Estimated monthly cost: $1,945 vs. your max of $1,610.
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 Story County, Iowa?
What is the median rent in Story County?
Is Story County affordable?
How does Story County's rent compare to the state average?
What is the median home value in Story County?
Counties with Similar Housing Costs
Planning a Move?
Researching the cost of living in Story County, Iowa? Compare moving quotes from top providers and save on your relocation.
Compare Moving QuotesCompare Mortgage Rates in Story 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.