Elma, IA
Population 618 · Iowa
About Elma, IA
Elma is a small community located in Iowa with a population of 618 residents according to the latest US Census Bureau American Community Survey data. The median household income is $41,528 per year, which is 45% below the national median of $75,149. The median age of 48 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 Elma features a median home value of $71,400, which is 71% below the national median of $244,900. This makes Elma one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $668, 43% below the national average of $1,163/month. Of the 321 total housing units, 62% are owner-occupied (170 units) and 38% are renter-occupied (103 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Elma 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 23.0%, above the national average of 12.4%. Workers in Elma have an average one-way commute time of 25.2 minutes.
Education & Demographics
11.7% of Elma 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 1.8% White, 5.5% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 3.4% of the population being foreign-born.
Cost of Living in Elma, IA
Compared to national averages, Elma has a median household income of $41,528 (45% below the national median of $75,149). Home values average $71,400, which is 71% below the national median. Monthly rent at $668 is 43% below the US average of $1,163. Within Iowa, Elma's income is 39% below the state average of $67,947, and home values are 46% below the state median of $132,237.
Why Live in Elma, IA?
Elma offers affordable housing with a median home value of $71,400, below the US average of $244,900, and rent that’s lower than the national average at $668/month, and a strong job market with an unemployment rate of just 2.4%.
Potential considerations include median household income ($41,528) that falls below the national average. However, Elma’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Elma has a population of 618 with a median age of 48 years. Compare Elma with other cities to see how it stacks up, or explore all cities in Iowa.
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Economy & Education
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Other Cities in Iowa
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Elma
What is the population of Elma, IA?
The population of Elma, IA is 618 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 Elma?
The median household income in Elma, IA is $41,528 per year, which is 45% below the national median of $75,149.
What is the median home value in Elma?
The median home value in Elma, IA is $71,400, which is 71% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Elma?
The median monthly rent in Elma, IA is $668, which is 43% below the national average of $1,163/month.
What is the unemployment rate in Elma?
The unemployment rate in Elma, 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 Elma, IA a good place to live?
Elma offers a moderate cost of living, affordable housing, and a strong job market. With a population of 618 and a median age of 48, the city appeals to established professionals and retirees.
How educated is Elma, IA?
11.7% of residents in Elma 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 Elma?
Key cost-of-living indicators for Elma, IA: median home value is $71,400 (71% below national), median rent is $668/month, and median household income is $41,528. The home-value-to-income ratio is 1.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Elma?
The poverty rate in Elma, IA is 23.0%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Elma, IA?
Elma's population is 1.8% White, 5.5% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 3.4% of residents are foreign-born.