Quick facts: Marshalltown, IA

Quick Facts

96.6
Cost of Living
below US average
27,433
Population
23.95
Crime Rate per 1000
above US average
$65,000
Median Income
below US average
$129,900
Median House Price
above US average
$1098.5
Average Rent
below US average
14%
Poverty Rate
above US average
6.5%
Unemployment Rate
above 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 $65,000.

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Income Needed to Buy

βœ“ Affordable
$41k/year
Based on $129,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($65,000) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$47k/year
Based on $1098.5/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($65,000) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Marshalltown, IA

Marshalltown, Iowa, located in the heart of the Midwest, is known for its rich history and community spirit. Founded in the 19th century, the city has a diverse heritage, reflected in its architecture and local culture. The population, approximately 27,000, enjoys a blend of small-town charm and various amenities. The city is renowned for its strong sense of community, vibrant downtown area, and numerous parks and recreational facilities. Notable attractions include the Marshall County Historical Society and the Grimes Farm and Conservation Center, which highlights the area's natural beauty and agricultural roots. Marshalltown also boasts a thriving arts scene, hosting several events throughout the year, including the Central Iowa Fair and festive parades. The local economy is supported by manufacturing, healthcare, and retail sectors, providing residents with various employment options. Surrounded by scenic countryside, residents enjoy outdoor activities such as fishing, hiking, and biking. With its affordable cost of living, quality education, and welcoming atmosphere, Marshalltown is a desirable location for families and individuals alike.

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