Quick facts: Fairfield, IA

Quick Facts

96.6
Cost of Living
below US average
9,464
Population
17.01
Crime Rate per 1000
below US average
$44,277
Median Income
below US average
$169,900
Median House Price
above US average
$1033.43
Average Rent
below US average
12%
Poverty Rate
above US average
3.5%
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 $44,277.

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Income Needed to Buy

βœ— Stretch
$53k/year
Based on $169,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $53k vs median $44,277
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Income Needed to Rent

⚠ Stretch
$44k/year
Based on $1033.43/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $44k vs median $44,277
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Fairfield, IA

Fairfield, located in southeast Iowa, is known for its vibrant community and rich cultural scene. With a population of around 9,400, it serves as the county seat of Jefferson County. The city is notable for its diverse inhabitants, with a unique mix that includes a significant population adhering to the Transcendental Meditation movement, which contributes to its distinct lifestyle. Fairfield features beautiful parks and recreational areas, including the popular MUM campus and Jefferson County Park, ideal for hiking, biking, and outdoor activities. The city is also home to various local businesses, artisan shops, and a thriving farmers market, showcasing the local agricultural scene. The historic downtown area boasts a variety of restaurants, cafes, and galleries, reflecting the city's commitment to art and culture. Annual festivals and events, such as the Fairfield Arts & Convention Center events, highlight its vibrant community spirit. Fairfield is well-connected by road, providing easy access to larger cities and attractions in Iowa. Its friendly atmosphere, artistic ambiance, and strong community bonds make it a unique place to live and visit.

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