salaryRent 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. Most homes (76.6%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $37,480 a year. That is $18 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 26 of 86 cities from cheapest to most expensive.
How much do households earn in Oelwein?
Share of households by yearly income. 11.8% of households earn $100,000 or more.
Rent by apartment size in Oelwein
| Size | Oelwein | U.S. average |
|---|---|---|
| 1 bedroom | $651 | $1,324 |
| 2 bedrooms | $1,000 | $1,509 |
| 3 bedrooms | $1,251 | $1,698 |
| 4 bedrooms | $1,500 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Oelwein overall?
Everyday prices in Iowa overall are 12% below the U.S. average (index 87.8, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Oelwein, so the Iowa figure is shown.
Taxes and bills in Oelwein
Life in Oelwein
Is it cheaper to rent or buy in Oelwein?
Buying is cheaper month to month: about $269 a month less than renting.
Owning assumes a typical $96,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $9,630 for the down payment.
Frequently asked questions
What is the average rent in Oelwein, IA?
Renting in Oelwein costs a median of about $937 a month in 2026, including utilities. The Iowa median is $1,071.
How much do I need to make to live in Oelwein?
To keep rent under 30% of income, you need about $37,480 a year, or $18 an hour at a full-time job.
Is Oelwein cheap or expensive?
Oelwein is rated OK: rent takes 22.3% of the typical household income of $50,315. It ranks 26th cheapest of 86 Iowa cities we track.
How much are property taxes in Oelwein?
The median homeowner in Oelwein pays $1,565 a year in property taxes, about 1.63% of the median home value.
Is Oelwein 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 Oelwein?
The median home value in Oelwein is $96,300, about 1.9 times the typical yearly household income.
5,834 people live in Oelwein. Numbers are typical (middle) values.