Peterson, IA
Population 373 · Iowa
About Peterson, IA
Peterson is a small community located in Iowa with a population of 373 residents according to the latest US Census Bureau American Community Survey data. The median household income is $76,875 per year, which is 2% above the national median of $75,149. The median age of 37.6 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Peterson features a median home value of $86,700, which is 65% below the national median of $244,900. This makes Peterson one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $850, 27% below the national average of $1,163/month. Of the 202 total housing units, 87% are owner-occupied (138 units) and 13% are renter-occupied (20 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Peterson shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Peterson have an average one-way commute time of 29.9 minutes.
Education & Demographics
22.4% of Peterson 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 1.1% White, 0.5% Hispanic or Latino, 0.3% Black or African American, and 0.5% Asian residents, with 4.3% of the population being foreign-born.
Cost of Living in Peterson, IA
Compared to national averages, Peterson has a median household income of $76,875 (2% above the national median of $75,149). Home values average $86,700, which is 65% below the national median. Monthly rent at $850 is 27% below the US average of $1,163. Within Iowa, Peterson's income is 13% above the state average of $67,947, and home values are 34% below the state median of $132,237.
Why Live in Peterson, IA?
Peterson offers a strong local economy with a median household income of $76,875, well above the national average, and affordable housing with a median home value of $86,700, below the US average of $244,900, and rent that’s lower than the national average at $850/month. Additionally, the city features a strong job market with an unemployment rate of just 0.0%, and a low poverty rate of 2.7%, better than the national average.
Peterson has a population of 373 with a median age of 37.6 years. Compare Peterson with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Peterson
Cities in Iowa with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Libertyville | 373 | $74,107 | $177,700 | Compare |
| Mingo | 373 | $61,806 | $120,300 | Compare |
| Lorimor | 375 | $43,281 | $67,900 | Compare |
| New Vienna | 377 | $90,938 | $176,800 | Compare |
| Mondamin | 378 | $71,750 | $90,000 | Compare |
| Protivin | 368 | $63,438 | $107,700 | Compare |
| Plainfield | 379 | $75,500 | $132,700 | Compare |
| Callender | 381 | $66,667 | $107,100 | 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 Peterson With Other Cities
Frequently Asked Questions about Peterson
What is the population of Peterson, IA?
The population of Peterson, IA is 373 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 Peterson?
The median household income in Peterson, IA is $76,875 per year, which is 2% above the national median of $75,149.
What is the median home value in Peterson?
The median home value in Peterson, IA is $86,700, which is 65% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Peterson?
The median monthly rent in Peterson, IA is $850, which is 27% below the national average of $1,163/month.
What is the unemployment rate in Peterson?
The unemployment rate in Peterson, IA is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Peterson, IA a good place to live?
Peterson offers above-average incomes, affordable housing, and a strong job market. With a population of 373 and a median age of 37.6, the city appeals to a broad range of residents.
How educated is Peterson, IA?
22.4% of residents in Peterson 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 Peterson?
Key cost-of-living indicators for Peterson, IA: median home value is $86,700 (65% below national), median rent is $850/month, and median household income is $76,875. The home-value-to-income ratio is 1.1x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Peterson?
The poverty rate in Peterson, IA is 2.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Peterson, IA?
Peterson's population is 1.1% White, 0.5% Hispanic or Latino, 0.3% Black or African American, 0.5% Asian, and 0.5% two or more races. 4.3% of residents are foreign-born.