Iowa Falls, IA
Population 5,062 · Iowa
About Iowa Falls, IA
Iowa Falls is a small town located in Iowa with a population of 5,062 residents according to the latest US Census Bureau American Community Survey data. The median household income is $53,051 per year, which is 29% below the national median of $75,149. The median age of 39 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Iowa Falls features a median home value of $106,300, which is 57% below the national median of $244,900. This makes Iowa Falls one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $898, 23% below the national average of $1,163/month. Of the 2,386 total housing units, 64% are owner-occupied (1,345 units) and 36% are renter-occupied (772 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Iowa Falls shows an unemployment rate of 7.7%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 7.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Iowa Falls have an average one-way commute time of 14.6 minutes, one of the shorter commutes in the region.
Education & Demographics
22.3% of Iowa Falls 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 5.3% White, 1.6% Hispanic or Latino, 1.2% Black or African American, and 1.4% Asian residents, with 3.3% of the population being foreign-born.
Cost of Living in Iowa Falls, IA
Compared to national averages, Iowa Falls has a median household income of $53,051 (29% below the national median of $75,149). Home values average $106,300, which is 57% below the national median. Monthly rent at $898 is 23% below the US average of $1,163. Within Iowa, Iowa Falls's income is 22% below the state average of $67,947, and home values are 20% below the state median of $132,237.
Why Live in Iowa Falls, IA?
Iowa Falls offers affordable housing with a median home value of $106,300, below the US average of $244,900, and rent that’s lower than the national average at $898/month, and a low poverty rate of 7.6%, better than the national average. Additionally, the city features short commute times averaging just 14.6 minutes.
Potential considerations include median household income ($53,051) that falls below the national average. However, Iowa Falls’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Iowa Falls has a population of 5,062 with a median age of 39 years. Compare Iowa Falls with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Iowa Falls
Cities in Iowa with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Sergeant Bluff | 5,090 | $122,610 | $287,600 | Compare |
| Glenwood | 5,118 | $69,320 | $193,800 | Compare |
| Manchester | 5,144 | $58,578 | $130,500 | Compare |
| Cherokee | 5,157 | $48,693 | $119,400 | Compare |
| Windsor Heights | 5,171 | $89,083 | $251,800 | Compare |
| Vinton | 4,948 | $65,488 | $146,400 | Compare |
| Shenandoah | 4,913 | $52,469 | $110,000 | Compare |
| Harlan | 4,896 | $54,923 | $137,500 | 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 Iowa Falls With Other Cities
Frequently Asked Questions about Iowa Falls
What is the population of Iowa Falls, IA?
The population of Iowa Falls, IA is 5,062 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 Iowa Falls?
The median household income in Iowa Falls, IA is $53,051 per year, which is 29% below the national median of $75,149.
What is the median home value in Iowa Falls?
The median home value in Iowa Falls, IA is $106,300, which is 57% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Iowa Falls?
The median monthly rent in Iowa Falls, IA is $898, which is 23% below the national average of $1,163/month.
What is the unemployment rate in Iowa Falls?
The unemployment rate in Iowa Falls, IA is 7.7%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Iowa Falls, IA a good place to live?
Iowa Falls offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 5,062 and a median age of 39, the city appeals to a broad range of residents.
How educated is Iowa Falls, IA?
22.3% of residents in Iowa Falls 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 Iowa Falls?
Key cost-of-living indicators for Iowa Falls, IA: median home value is $106,300 (57% below national), median rent is $898/month, and median household income is $53,051. The home-value-to-income ratio is 2.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Iowa Falls?
The poverty rate in Iowa Falls, IA is 7.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Iowa Falls, IA?
Iowa Falls's population is 5.3% White, 1.6% Hispanic or Latino, 1.2% Black or African American, 1.4% Asian, and 1.3% two or more races. 3.3% of residents are foreign-born.