Fairbank, IA
Population 1,509 · Iowa
About Fairbank, IA
Fairbank is a small town located in Iowa with a population of 1,509 residents according to the latest US Census Bureau American Community Survey data. The median household income is $100,172 per year, which is 33% above the national median of $75,149. The median age of 41.2 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Fairbank features a median home value of $173,200, which is 29% below the national median of $244,900. This positions Fairbank in a moderately priced market relative to the rest of the country. Median monthly rent is $630, 46% below the national average of $1,163/month. Of the 569 total housing units, 86% are owner-occupied (475 units) and 14% are renter-occupied (77 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Fairbank shows an unemployment rate of 2.6%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.5%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Fairbank have an average one-way commute time of 22.4 minutes.
Education & Demographics
19.9% of Fairbank 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 0.0% White, 0.3% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Fairbank, IA
Compared to national averages, Fairbank has a median household income of $100,172 (33% above the national median of $75,149). Home values average $173,200, which is 29% below the national median. Monthly rent at $630 is 46% below the US average of $1,163. Within Iowa, Fairbank's income is 47% above the state average of $67,947, and home values are 31% above the state median of $132,237.
Why Live in Fairbank, IA?
Fairbank offers a strong local economy with a median household income of $100,172, well above the national average, and affordable housing with a median home value of $173,200, below the US average of $244,900, and rent that’s lower than the national average at $630/month. Additionally, the city features a strong job market with an unemployment rate of just 2.6%, and a low poverty rate of 2.5%, better than the national average, and short commute times averaging just 22.4 minutes.
Fairbank has a population of 1,509 with a median age of 41.2 years. Compare Fairbank with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Fairbank
Cities in Iowa with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Sanborn | 1,510 | $56,477 | $150,900 | Compare |
| Oakland | 1,500 | $72,500 | $144,600 | Compare |
| Panora | 1,520 | $65,500 | $164,500 | Compare |
| Slater | 1,498 | $87,708 | $222,000 | Compare |
| Pocahontas | 1,536 | $56,298 | $96,600 | Compare |
| Wellman | 1,539 | $56,696 | $149,000 | Compare |
| Lenox | 1,474 | $59,750 | $106,000 | Compare |
| Manning | 1,474 | $62,310 | $109,400 | Compare |
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 Fairbank With Other Cities
Frequently Asked Questions about Fairbank
What is the population of Fairbank, IA?
The population of Fairbank, IA is 1,509 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Iowa.
What is the median household income in Fairbank?
The median household income in Fairbank, IA is $100,172 per year, which is 33% above the national median of $75,149.
What is the median home value in Fairbank?
The median home value in Fairbank, IA is $173,200, which is 29% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Fairbank?
The median monthly rent in Fairbank, IA is $630, which is 46% below the national average of $1,163/month.
What is the unemployment rate in Fairbank?
The unemployment rate in Fairbank, IA is 2.6%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Fairbank, IA a good place to live?
Fairbank offers above-average incomes, affordable housing, and a strong job market. With a population of 1,509 and a median age of 41.2, the city appeals to a broad range of residents.
How educated is Fairbank, IA?
19.9% of residents in Fairbank 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 Fairbank?
Key cost-of-living indicators for Fairbank, IA: median home value is $173,200 (29% below national), median rent is $630/month, and median household income is $100,172. The home-value-to-income ratio is 1.7x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Fairbank?
The poverty rate in Fairbank, IA is 2.5%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Fairbank, IA?
Fairbank's population is 0.0% White, 0.3% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.4% two or more races. 0.0% of residents are foreign-born.