States › Iowa › Iowa Falls

Is Iowa Falls, IA expensive to live in?

CheapRent takes 18 cents of every $1 people earn here.
🏠 Rent per month (2026)$81753% lower than U.S. average
💵 Families earn per year (2026)$54,375about $4,531/month · 38% lower than U.S. average
🔑 House price$123,80063% lower than U.S. average

Rent here is among the lowest 10% of all U.S. cities. A typical house costs under 3 years of household income, which is easy by U.S. standards. Commutes are short, about 15 minutes.

How much money do I need?

To rent here comfortably, you should earn about $32,680 a year. That is $16 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 6 of 86 cities from cheapest to most expensive.

Iowa Falls
$817
Windsor Heights
$1,657
Glenwood
$824
Cherokee
$1,685
Sergeant Bluff
$1,689
Manchester
$887
Clarinda
$730

How much do households earn in Iowa Falls?

Under $25k
16.8%
$25k–50k
33.8%
$50k–100k
30.8%
$100k–150k
7.3%
$150k+
2.9%

Share of households by yearly income. 10.2% of households earn $100,000 or more.

Rent by apartment size in Iowa Falls

SizeIowa FallsU.S. average
1 bedroom$817$1,324
2 bedrooms$1,012$1,509
3 bedrooms$1,020$1,698

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

How expensive is Iowa Falls 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 Iowa Falls, so the Iowa figure is shown.

Taxes and bills in Iowa Falls

🏛️ Property tax$1,983a year · 1.60% of home value · U.S. $3,119
⚡ Electric bill$189a month (typical) · U.S. $156

Life in Iowa Falls

Commute to work15 minU.S.: 26.4 min
College degree22.9%U.S.: 35.7%
Own their home61.2%U.S.: 65.2%
Below poverty line10.7%U.S.: 12.5%
Unemployment9.1%U.S.: 5.2%

Is it cheaper to rent or buy in Iowa Falls?

About the same. Renting and owning cost within $42 of each other each month.

Renting
$817
Owning
$859

Owning assumes a typical $123,800 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $12,380 for the down payment.

Frequently asked questions

What is the average rent in Iowa Falls, IA?

Renting in Iowa Falls costs a median of about $817 a month in 2026, including utilities. The Iowa median is $1,071.

How much do I need to make to live in Iowa Falls?

To keep rent under 30% of income, you need about $32,680 a year, or $16 an hour at a full-time job.

Is Iowa Falls cheap or expensive?

Iowa Falls is rated Cheap: rent takes 18.0% of the typical household income of $54,375. It ranks 6th cheapest of 86 Iowa cities we track.

How much are property taxes in Iowa Falls?

The median homeowner in Iowa Falls pays $1,983 a year in property taxes, about 1.60% of the median home value.

Is Iowa Falls 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 Iowa Falls?

The median home value in Iowa Falls is $123,800, about 2.3 times the typical yearly household income.

5,038 people live in Iowa Falls. Numbers are typical (middle) values.