Quick facts: Iowa city, IA

Quick Facts

105.3
Cost of Living
above US average
75,233
Population
20.26
Crime Rate per 1000
below US average
$54,879
Median Income
below US average
$285,000
Median House Price
above US average
$1258.54
Average Rent
below US average
14%
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 $54,879.

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Income Needed to Buy

βœ— Stretch
$89k/year
Based on $285,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $89k vs median $54,879
🏒

Income Needed to Rent

βœ“ Affordable
$54k/year
Based on $1258.54/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($54,879) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Iowa city, IA

Iowa City, located in Johnson County, Iowa, is a vibrant college town and the home of the University of Iowa. Known for its rich literary heritage, Iowa City was designated a UNESCO City of Literature in 2008. The city's charming downtown area boasts a lively atmosphere with an array of shops, restaurants, and cafes, making it a popular spot for both locals and visitors. Iowa City features a mix of historic architecture and modern amenities, highlighted by the stunning Old Capitol Building, which serves as a symbol of the city’s history. The city's arts scene is thriving, with numerous galleries, theaters, and events such as the Iowa City Book Festival. Outdoor enthusiasts can enjoy several parks and trails, including the scenic Iowa River Corridor Trail. The city also hosts various cultural events throughout the year, fostering a strong sense of community. With its diverse population, dynamic cultural scene, and commitment to education, Iowa City is a unique and welcoming place to live and visit.

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