States › Iowa › Altoona

Is Altoona, IA expensive to live in?

CheapRent takes 19 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,45617% lower than U.S. average
💵 Families earn per year (2026)$92,874about $7,740/month · 7% higher than U.S. average
🔑 House price$274,60017% lower than U.S. average

Rent is lower than in 60% of U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards.

How much money do I need?

To rent here comfortably, you should earn about $58,240 a year. That is $28 an hour at a full-time job.

Is rent cheaper than other Iowa cities?

No. Rent here is more expensive than in most of Iowa. It is number 70 of 86 cities from cheapest to most expensive.

Altoona
$1,456
North Liberty
$1,367
Coralville
$1,288
Muscatine
$1,127
Burlington
$940
Clive
$1,187
Clinton
$1,230

How much do households earn in Altoona?

Under $25k
6.6%
$25k–50k
22.4%
$50k–100k
41.4%
$100k–150k
15.4%
$150k+
12.0%

Share of households by yearly income. 27.4% of households earn $100,000 or more.

Rent by apartment size in Altoona

SizeAltoonaU.S. average
1 bedroom$1,079$1,324
2 bedrooms$1,389$1,509
3 bedrooms$1,628$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is Altoona overall?

Everyday prices in Iowa overall are 12% below the U.S. average (index 87.8, U.S. = 100).

Housing
65
Goods (food, clothes…)
94
Utilities
83
Other services
93
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Altoona, so the Iowa figure is shown.

Taxes and bills in Altoona

🏛️ Property tax$4,392a year · 1.60% of home value · U.S. $3,119
⚡ Electric bill$131a month (typical) · U.S. $156

Life in Altoona

Commute to work22.5 minU.S.: 26.4 min
College degree33.5%U.S.: 35.7%
Own their home68.7%U.S.: 65.2%
Below poverty line8.3%U.S.: 12.5%
Unemployment7.5%U.S.: 5.2%

Is it cheaper to rent or buy in Altoona?

Renting is cheaper right now: about $449 a month less.

Renting
$1,456
Owning
$1,905

Owning assumes a typical $274,600 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $27,460 for the down payment.

Frequently asked questions

What is the average rent in Altoona, IA?

Renting in Altoona costs a median of about $1,456 a month in 2026, including utilities. The Iowa median is $1,071.

How much do I need to make to live in Altoona?

To keep rent under 30% of income, you need about $58,240 a year, or $28 an hour at a full-time job.

Is Altoona cheap or expensive?

Altoona is rated Cheap: rent takes 18.8% of the typical household income of $92,874. It ranks 70th cheapest of 86 Iowa cities we track.

How much are property taxes in Altoona?

The median homeowner in Altoona pays $4,392 a year in property taxes, about 1.60% of the median home value.

Is Altoona more expensive than the national average?

Overall prices in Iowa are 12% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in Altoona?

The median home value in Altoona is $274,600, about 3.0 times the typical yearly household income.

21,495 people live in Altoona. Numbers are typical (middle) values.