Quick facts: Ames, IA

Quick Facts

97.5
Cost of Living
below US average
66,950
Population
14.98
Crime Rate per 1000
below US average
$57,428
Median Income
below US average
$324,900
Median House Price
above US average
$1376.94
Average Rent
below US average
12%
Poverty Rate
above US average
2.4%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $57,428.

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Income Needed to Buy

βœ— Stretch
$102k/year
Based on $324,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $102k vs median $57,428
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Income Needed to Rent

⚠ Stretch
$59k/year
Based on $1376.94/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $59k vs median $57,428
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Ames, IA

Ames, Iowa, often recognized for its vibrant college-town atmosphere, is home to Iowa State University, one of the nation’s leading research institutions. This city, located in Story County, boasts a population of around 66,000 residents, making it one of the larger cities in the state. Known for its friendly community and an array of cultural and recreational activities, Ames offers a balanced mix of education, innovation, and quality of life. The city features numerous parks, trails, and green spaces, perfect for outdoor enthusiasts. The picturesque Reiman Gardens is a must-visit, showcasing beautiful landscapes and diverse plant collections. Ames also holds a thriving arts scene, with galleries and theaters contributing to its cultural richness. In terms of economy, Ames is characterized by a strong focus on education, research, and technology, supported by the expert faculty and students at Iowa State. The local economy benefits from various sectors, including healthcare and agriculture. Residents enjoy a good quality of life, with a mix of local dining, shopping, and entertainment options making Ames a pleasant place to live and visit.

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