States › Iowa › Fort Madison

Is Fort Madison, IA expensive to live in?

OKRent takes 23 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,06239% lower than U.S. average
💵 Families earn per year (2026)$54,685about $4,557/month · 37% lower than U.S. average
🔑 House price$94,20072% lower than U.S. average

Rent is lower than in 84% 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 $42,480 a year. That is $20 an hour at a full-time job.

Is rent cheaper than other Iowa cities?

Yes. Rent here is cheaper than in most of Iowa. It is number 43 of 86 cities from cheapest to most expensive.

Fort Madison
$1,062
Carroll
$798
Waverly
$1,253
Keokuk
$691
Le Mars
$1,515
Pella
$1,186
Grinnell
$1,041

How much do households earn in Fort Madison?

Under $25k
24.8%
$25k–50k
25.5%
$50k–100k
33.5%
$100k–150k
8.2%
$150k+
2.8%

Share of households by yearly income. 10.9% of households earn $100,000 or more.

Rent by apartment size in Fort Madison

SizeFort MadisonU.S. average
Studio$3,500+$1,338
1 bedroom$421$1,324
2 bedrooms$943$1,509
3 bedrooms$1,729$1,698

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

How expensive is Fort Madison 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 Fort Madison, so the Iowa figure is shown.

Taxes and bills in Fort Madison

🏛️ Property tax$1,420a year · 1.51% of home value · U.S. $3,119
⚡ Electric bill$155a month (typical) · U.S. $156

Life in Fort Madison

Commute to work23.1 minU.S.: 26.4 min
College degree18.5%U.S.: 35.7%
Own their home72.4%U.S.: 65.2%
Below poverty line15%U.S.: 12.5%
Unemployment7.3%U.S.: 5.2%

Is it cheaper to rent or buy in Fort Madison?

Buying is cheaper month to month: about $408 a month less than renting.

Renting
$1,062
Owning
$654

Owning assumes a typical $94,200 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $9,420 for the down payment.

Frequently asked questions

What is the average rent in Fort Madison, IA?

Renting in Fort Madison costs a median of about $1,062 a month in 2026, including utilities. The Iowa median is $1,071.

How much do I need to make to live in Fort Madison?

To keep rent under 30% of income, you need about $42,480 a year, or $20 an hour at a full-time job.

Is Fort Madison cheap or expensive?

Fort Madison is rated OK: rent takes 23.3% of the typical household income of $54,685. It ranks 43rd cheapest of 86 Iowa cities we track.

How much are property taxes in Fort Madison?

The median homeowner in Fort Madison pays $1,420 a year in property taxes, about 1.51% of the median home value.

Is Fort Madison 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 Fort Madison?

The median home value in Fort Madison is $94,200, about 1.7 times the typical yearly household income.

10,133 people live in Fort Madison. Numbers are typical (middle) values.