Fairfax, IA
Population 2,865 · Iowa
About Fairfax, IA
Fairfax is a small town located in Iowa with a population of 2,865 residents according to the latest US Census Bureau American Community Survey data. The median household income is $120,552 per year, which is 60% above the national median of $75,149. The median age of 37.1 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Fairfax features a median home value of $278,800, which is 14% above the national median of $244,900. This positions Fairfax in a moderately priced market relative to the rest of the country. Median monthly rent is $1,188, 2% above the national average of $1,163/month. Of the 1,009 total housing units, 93% are owner-occupied (918 units) and 7% are renter-occupied (67 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Fairfax shows an unemployment rate of 1.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 5.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Fairfax have an average one-way commute time of 24.6 minutes.
Education & Demographics
36.9% of Fairfax residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 3.8% White, 0.4% Hispanic or Latino, 0.0% Black or African American, and 1.6% Asian residents, with 2.7% of the population being foreign-born.
How Fairfax Ranks in Iowa
Cost of Living in Fairfax, IA
Compared to national averages, Fairfax has a median household income of $120,552 (60% above the national median of $75,149). Home values average $278,800, which is 14% above the national median. Monthly rent at $1,188 is 2% above the US average of $1,163. Within Iowa, Fairfax's income is 77% above the state average of $67,947, and home values are 111% above the state median of $132,237.
Why Live in Fairfax, IA?
Fairfax offers a strong local economy with a median household income of $120,552, well above the national average, and a strong job market with an unemployment rate of just 1.7%, and a well-educated community where 36.9% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 5.1%, better than the national average, and short commute times averaging just 24.6 minutes.
Fairfax has a population of 2,865 with a median age of 37.1 years. Compare Fairfax with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Fairfax
Cities in Iowa with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Onawa | 2,862 | $54,659 | $125,700 | Compare |
| Park View | 2,861 | $106,429 | $276,500 | Compare |
| Marengo | 2,823 | $58,125 | $114,100 | Compare |
| Sibley | 2,821 | $54,767 | $119,800 | Compare |
| Madrid | 2,803 | $86,915 | $185,100 | Compare |
| Grundy Center | 2,794 | $77,540 | $173,200 | Compare |
| Postville | 2,787 | $47,281 | $100,300 | Compare |
| Wilton | 2,943 | $71,898 | $162,000 | 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 Fairfax With Other Cities
Frequently Asked Questions about Fairfax
What is the population of Fairfax, IA?
The population of Fairfax, IA is 2,865 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 Fairfax?
The median household income in Fairfax, IA is $120,552 per year, which is 60% above the national median of $75,149.
What is the median home value in Fairfax?
The median home value in Fairfax, IA is $278,800, which is 14% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Fairfax?
The median monthly rent in Fairfax, IA is $1,188, which is 2% above the national average of $1,163/month.
What is the unemployment rate in Fairfax?
The unemployment rate in Fairfax, IA is 1.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Fairfax, IA a good place to live?
Fairfax offers above-average incomes, a competitive housing market, and a strong job market. With a population of 2,865 and a median age of 37.1, the city appeals to a broad range of residents.
How educated is Fairfax, IA?
36.9% of residents in Fairfax aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Fairfax?
Key cost-of-living indicators for Fairfax, IA: median home value is $278,800 (14% above national), median rent is $1,188/month, and median household income is $120,552. The home-value-to-income ratio is 2.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Fairfax?
The poverty rate in Fairfax, IA is 5.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Fairfax, IA?
Fairfax's population is 3.8% White, 0.4% Hispanic or Latino, 0.0% Black or African American, 1.6% Asian, and 2.9% two or more races. 2.7% of residents are foreign-born.