Thompson, IA
Population 448 · Iowa
About Thompson, IA
Thompson is a small community located in Iowa with a population of 448 residents according to the latest US Census Bureau American Community Survey data. The median household income is $49,375 per year, which is 34% below the national median of $75,149. The median age of 60.3 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Thompson features a median home value of $99,600, which is 59% below the national median of $244,900. This makes Thompson one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $696, 40% below the national average of $1,163/month. Of the 311 total housing units, 77% are owner-occupied (214 units) and 23% are renter-occupied (65 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Thompson shows an unemployment rate of 4.5%, which is near the national rate of 3.7%. The poverty rate stands at 8.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Thompson have an average one-way commute time of 18 minutes, one of the shorter commutes in the region.
Education & Demographics
34.0% of Thompson 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 6.7% White, 0.2% Hispanic or Latino, 0.0% Black or African American, and 0.2% Asian residents, with 3.8% of the population being foreign-born.
Cost of Living in Thompson, IA
Compared to national averages, Thompson has a median household income of $49,375 (34% below the national median of $75,149). Home values average $99,600, which is 59% below the national median. Monthly rent at $696 is 40% below the US average of $1,163. Within Iowa, Thompson's income is 27% below the state average of $67,947, and home values are 25% below the state median of $132,237.
Why Live in Thompson, IA?
Thompson offers affordable housing with a median home value of $99,600, below the US average of $244,900, and rent that’s lower than the national average at $696/month, and a well-educated community where 34.0% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 8.1%, better than the national average, and short commute times averaging just 18 minutes.
Potential considerations include median household income ($49,375) that falls below the national average. However, Thompson’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Thompson has a population of 448 with a median age of 60.3 years. Compare Thompson with other cities to see how it stacks up, or explore all cities in Iowa.
Similar Cities Near Thompson
Cities in Iowa with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Maynard | 448 | $49,375 | $129,500 | Compare |
| Oxford Junction | 447 | $61,250 | $66,700 | Compare |
| Milton | 451 | $41,875 | $54,400 | Compare |
| Arlington | 452 | $41,250 | $110,900 | Compare |
| Clearfield | 444 | $47,083 | $63,000 | Compare |
| Clermont | 452 | $73,906 | $117,200 | Compare |
| Bussey | 453 | $47,857 | $62,500 | Compare |
| Conesville | 440 | $59,250 | $67,000 | 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 Thompson With Other Cities
Frequently Asked Questions about Thompson
What is the population of Thompson, IA?
The population of Thompson, IA is 448 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 Thompson?
The median household income in Thompson, IA is $49,375 per year, which is 34% below the national median of $75,149.
What is the median home value in Thompson?
The median home value in Thompson, IA is $99,600, which is 59% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Thompson?
The median monthly rent in Thompson, IA is $696, which is 40% below the national average of $1,163/month.
What is the unemployment rate in Thompson?
The unemployment rate in Thompson, IA is 4.5%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Thompson, IA a good place to live?
Thompson offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 448 and a median age of 60.3, the city appeals to established professionals and retirees.
How educated is Thompson, IA?
34.0% of residents in Thompson 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 Thompson?
Key cost-of-living indicators for Thompson, IA: median home value is $99,600 (59% below national), median rent is $696/month, and median household income is $49,375. The home-value-to-income ratio is 2.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Thompson?
The poverty rate in Thompson, IA is 8.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Thompson, IA?
Thompson's population is 6.7% White, 0.2% Hispanic or Latino, 0.0% Black or African American, 0.2% Asian, and 0.0% two or more races. 3.8% of residents are foreign-born.