Fayette, IA
Population 1,242 · Iowa
About Fayette, IA
Fayette is a small community in Iowa with a population of 1,242 residents. The median household income is $39,297 per year, which is below the national average. The median age in Fayette is 28.3 years.
Housing in Fayette has a median home value of $123,300 and median monthly rent of $963. Of the 542 total housing units, renting is more common than owning, with 225 owner-occupied and 250 renter-occupied units.
The unemployment rate in Fayette is 6.8% and the poverty rate is 25.1%. 28.5% of residents hold a bachelor's degree or higher. The average commute time is 14.8 minutes.
Cost of Living in Fayette, IA
Compared to national averages, Fayette has a median household income of $39,297 (48% below the national median of $75,149). Home values average $123,300, which is 50% below the national median. Monthly rent at $963 is 17% below the US average of $1,163. Within Iowa, Fayette's income is 42% below the state average of $67,947, and home values are 7% below the state median of $132,237.
Why Live in Fayette, IA?
Fayette offers affordable housing with a median home value of $123,300, below the US average of $244,900, and rent that’s lower than the national average at $963/month, and short commute times averaging just 14.8 minutes.
Potential considerations include median household income ($39,297) that falls below the national average. However, Fayette’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Fayette has a population of 1,242 with a median age of 28.3 years. Compare Fayette with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Fayette
Cities in Iowa with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Clarksville | 1,248 | $55,781 | $114,200 | Compare |
| Marcus | 1,236 | $75,288 | $174,100 | Compare |
| Elkader | 1,249 | $61,786 | $134,300 | Compare |
| Laurens | 1,234 | $56,354 | $71,000 | Compare |
| Baxter | 1,251 | $60,625 | $162,300 | Compare |
| University Heights | 1,232 | $105,172 | $393,200 | Compare |
| Melcher-Dallas | 1,228 | $72,824 | $94,600 | Compare |
| Treynor | 1,228 | $132,679 | $250,000 | 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.
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Frequently Asked Questions about Fayette
What is the population of Fayette, IA?
The population of Fayette, IA is 1,242 according to the latest Census data.
What is the median household income in Fayette?
The median household income in Fayette, IA is $39,297 per year.
What is the median home value in Fayette?
The median home value in Fayette, IA is $123,300.
What is the average rent in Fayette?
The median monthly rent in Fayette, IA is $963.
What is the unemployment rate in Fayette?
The unemployment rate in Fayette, IA is 6.8%.