Albion, IA
Population 617 · Iowa
About Albion, IA
Albion is a small community located in Iowa with a population of 617 residents according to the latest US Census Bureau American Community Survey data. The median household income is $73,750 per year, which is 2% below the national median of $75,149. The median age of 43.3 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Albion features a median home value of $105,400, which is 57% below the national median of $244,900. This makes Albion one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $810, 30% below the national average of $1,163/month. Of the 304 total housing units, 92% are owner-occupied (235 units) and 8% are renter-occupied (20 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Albion shows an unemployment rate of 2.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 6.2%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Albion have an average one-way commute time of 24.3 minutes.
Education & Demographics
8.1% of Albion residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.8% White, 4.2% Hispanic or Latino, 0.0% Black or African American, and 3.2% Asian residents, with 31.0% of the population being foreign-born.
Cost of Living in Albion, IA
Compared to national averages, Albion has a median household income of $73,750 (2% below the national median of $75,149). Home values average $105,400, which is 57% below the national median. Monthly rent at $810 is 30% below the US average of $1,163. Within Iowa, Albion's income is 9% above the state average of $67,947, and home values are 20% below the state median of $132,237.
Why Live in Albion, IA?
Albion offers affordable housing with a median home value of $105,400, below the US average of $244,900, and rent that’s lower than the national average at $810/month, and a strong job market with an unemployment rate of just 2.4%. Additionally, the city features a low poverty rate of 6.2%, better than the national average, and short commute times averaging just 24.3 minutes.
Potential considerations include median household income ($73,750) that falls below the national average. However, Albion’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Albion has a population of 617 with a median age of 43.3 years. Compare Albion with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Albion
Cities in Iowa with a similar population size.
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Iowa
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Albion With Other Cities
Frequently Asked Questions about Albion
What is the population of Albion, IA?
The population of Albion, IA is 617 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Iowa.
What is the median household income in Albion?
The median household income in Albion, IA is $73,750 per year, which is 2% below the national median of $75,149.
What is the median home value in Albion?
The median home value in Albion, IA is $105,400, which is 57% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Albion?
The median monthly rent in Albion, IA is $810, which is 30% below the national average of $1,163/month.
What is the unemployment rate in Albion?
The unemployment rate in Albion, IA is 2.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Albion, IA a good place to live?
Albion offers a moderate cost of living, affordable housing, and a strong job market. With a population of 617 and a median age of 43.3, the city appeals to a broad range of residents.
How educated is Albion, IA?
8.1% of residents in Albion aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Albion?
Key cost-of-living indicators for Albion, IA: median home value is $105,400 (57% below national), median rent is $810/month, and median household income is $73,750. The home-value-to-income ratio is 1.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Albion?
The poverty rate in Albion, IA is 6.2%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Albion, IA?
Albion's population is 0.8% White, 4.2% Hispanic or Latino, 0.0% Black or African American, 3.2% Asian, and 0.6% two or more races. 31.0% of residents are foreign-born.