In Iowa Falls, a typical home is worth $123,800 and typical rent is $831 a month. Compared with all of Hardin County, typical household income is 23% lower and the share of households that own their home is 12 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $119,601 to $137,722.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Iowa Falls is in Hardin County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Hardin County. See the county
What this place has that others do not, from public data, most unusual first.
1
Iowa Falls has the 5th lowest typical household income of the 86 cities in Iowa with more than 5,000 people ($50,417).
2
61% of households in Iowa Falls own their home, against 74% in Hardin County.
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Iowa Falls
What homes there are in Iowa Falls, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Iowa Falls
Hardin County
Iowa
United States
Kind of home: Iowa Falls and its comparisons
Measure
Iowa Falls
Hardin County
Iowa
United States
Detached house
78%
84%
72%
61%
Attached house
Unreliable estimate
Unreliable estimate
5%
6%
Building of 2 to 4
10%
8%
6%
8%
Apartments (5 or more)
Unreliable estimate
Unreliable estimate
14%
19%
Mobile home
Unreliable estimate
2%
3%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
In Iowa Falls, 8 in 10 homes are single-family detached houses; in Hardin County, 8.
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Iowa Falls
Hardin County
Iowa
United States
Year built: Iowa Falls and its comparisons
Measure
Iowa Falls
Hardin County
Iowa
United States
Before 1960
49%
56%
38%
26%
1960–1979
35%
28%
24%
24%
1980–1999
13%
11%
17%
25%
2000–2009
Unreliable estimate
3%
11%
14%
2010 or later
Unreliable estimate
2%
11%
11%
The typical home in Iowa Falls was built in 1961, 5 years after the typical one in Hardin County.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100K37%
$100K–$200K37%
$200K–$300K20%
$300K–$500KUnreliable
$500K–$750KUnreliable
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Iowa Falls and its comparisons
Measure
Iowa Falls
Under $100K
37%
$100K–$200K
37%
$200K–$300K
20%
$300K–$500K
Unreliable estimate
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable
$1M or more
Unreliable
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99959%
$1,000–$1,49920%
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Iowa Falls and its comparisons
Measure
Iowa Falls
Under $500
Unreliable estimate
$500–$999
59%
$1,000–$1,499
20%
$1,500–$1,999
Unreliable
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable estimate
With a mortgage
$1,191 a month
Hardin County: $1,236 a month
Without a mortgage
$528 a month
Hardin County: $552 a month
Owners with a mortgage
59%
Hardin County: 49%
In Iowa Falls, 59% of owners have a mortgage; their typical cost is $1,191 a month, about the same as in Hardin County.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Iowa Falls+40%
Hardin County+30%
Iowa+41%
United States+53%
Typical rent
Iowa FallsNo clear change
Hardin County+24%
Iowa+23%
United States+33%
Typical household income
Iowa FallsNo clear change
Hardin County+20%
Iowa+24%
United States+29%
Change since 2015–2019: Iowa Falls and its comparisons
Measure
Iowa Falls
Hardin County
Iowa
United States
Typical home value
+40%
+30%
+41%
+53%
Typical rent
No clear change
+24%
+23%
+33%
Typical household income
No clear change
+20%
+24%
+29%
From 2015–2019 to 2020–2024, the typical home value in Iowa Falls rose 40%; in Hardin County, it rose 30%.
Since 2015–2019, the typical rent in Iowa Falls did not change clearly, according to the Census.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Iowa Falls and its comparisons
Measure
Iowa Falls
Hardin County
Iowa
United States
Rental vacancy
Unreliable estimate
Unreliable estimate
5.7%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
0.8%
0.9%
More than one person per room
Unreliable estimate
Unreliable estimate
1.6%
3.4%
People per household
2.11
2.27
2.36
2.53
Drive alone
75%
79%
76%
69%
Carpool
Unreliable estimate
5%
8%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
5%
3%
3%
Work from home
9%
8%
11%
15%
Other means
Unreliable estimate
Unreliable estimate
1%
2%
Typical commute
Unreliable estimate
10 to 19 minutes
10 to 19 minutes
20 to 29 minutes
Fewer people live in each home here: 2.11 on average, against 2.27 in Hardin County.
In Iowa Falls, 75% of workers drive alone to work; in Hardin County, 79%.
Do the math
What would you pay each month for a home in Iowa Falls?
A typical home is within reach of the typical income
We start with a typical home in Iowa Falls, worth $123,800, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 26% of the typical household income in Iowa Falls, which is $50,417 a year.
The calculator's FHA and conventional loan limits are those of all of Hardin County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Iowa Falls. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $4,333 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$1,095
at 7.18% · 30 years
Loan amount
$121,558
Total interest
$174,893
Paid off in
November 2056
Includes $2,091 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,176 a month
Your payment · 26%
Tight
$1,176 to $1,513 a month
Hard
more than $1,513 a month
Compared with the typical household income in Iowa Falls ($50,417 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$823
Property tax
$165
Home insurance
$52
FHA mortgage insurance (MIP)
$55
You need at least $4,333 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $1,095; principal and interest $823.
The city and its county
Iowa Falls and Hardin County
Iowa Falls is in Hardin County, Iowa. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Iowa Falls
Map of Hardin County, Iowa, with Iowa Falls marked. Around it, the neighboring counties.
Iowa Falls
Hardin County
Iowa Falls's own numbers
Typical home value
$123,800
Typical monthly rent
$831
Typical yearly household income
$50,417
Households that own their home
61%
Effective property tax rate
1.6%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Hardin County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$927
Price change over 5 years (FHFA)
+34%
Homes in a high flood-risk zone
2.9%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Hardin County.
A typical home in Iowa Falls is worth $123,800: about the same as the county and 40% below Iowa. With the typical household income in Iowa Falls ($50,417 a year), a typical home costs 2.5 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Iowa Falls2.5 years
Hardin1.9 years
Iowa2.8 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Hardin County
According to FHFA’s house price index, home prices in Hardin County rose 51% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Hardin County.
Yearly change in FHFA’s price index in Hardin County, 2016 to 2025
2016: +0.3% +0.3% 2016
2017: +4.4% +4.4% 2017
2018: +1.2% +1.2% 2018
2019: +4.6% +4.6% 2019
2020: +1.6% +1.6% 2020
2021: +5.5% +5.5% 2021
2022: +15.4% +15.4% 2022
2023: +5.7% +5.7% 2023
2024: +6.2% +6.2% 2024
2025: −2.0% −2.0% 2025
Change in FHFA’s price index in Hardin County, Iowa and the United States
Period
County
Iowa
U.S.
Last year (2025)
−2.0%
+3.2%
+2.9%
5 years (2020–2025)
+34%
+41%
+47%
10 years (2015–2025)
+51%
+65%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Iowa Falls next to Hardin County, Iowa and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Iowa Falls$123,800
Hardin$122,500
Iowa$208,000
United States$332,700
Typical monthly rent
Iowa Falls$831
Hardin$795
Iowa$972
United States$1,413
Typical yearly household income
Iowa Falls$50,417
Hardin$65,069
Iowa$75,059
United States$80,734
See the full table
Iowa Falls next to Hardin County and Iowa
Measure
Iowa Falls
Hardin County
Iowa
U.S.
Typical home value
$123,800
$122,500
$208,000
$332,700
Typical monthly rent
$831 ▲5% above the county
$795
$972
$1,413
Typical yearly household income
$50,417 ▼23% below the county
$65,069
$75,059
$80,734
Households that own their home
61% ▼12 points below the county
74%
72%
65%
Typical yearly property tax
$1,983 ▲18% above the county
$1,683
$2,897
$3,119
Effective property tax rate
1.6% ▲0.23 points above the county
1.37%
1.39%
0.94%
Renters with high rent for their income
50% ▲8 points above the county
42%
44%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Hardin County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Iowa Falls
For a typical $123,800 home in Iowa Falls, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Iowa Falls's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$1,095a month
Least cash to close
Down payment
$4,333
Cash to close
$8,047
Rate
7.18%
Mortgage insurance
FHA MIP · $55
Conventional, 5% down$1,072a month
Down payment
$6,190
Cash to close
$9,904
Rate
7.18%
Mortgage insurance
PMI · $59
Conventional, 20% down, no PMI$888a month
Down payment
$24,760
Cash to close
$28,474
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,002a month
Down payment
$18,570
Cash to close
$22,284
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Iowa Falls
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$1,095
$4,333
$121,558
7.18%
FHA MIP · $55
$8,047
580
Conventional, 5% down
$1,072
$6,190
$117,610
7.18%
PMI · $59
$9,904
620*
Conventional, 20% down, no PMI
$888
$24,760
$99,040
7.18%
None
$28,474
620*
ITIN, 15% down (example)
$1,002
$18,570
$105,230
8.18%
None
$22,284
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Iowa Falls is $831 a month: 5% above the county. In Iowa Falls, 50% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Hardin County, by unit size. To pay the 2-bedroom one ($927 a month) without spending more than 30% of your income, you would need to earn $17.83 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Hardin County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$688
$13.23
$27,520
1 bedroom
$709
$13.63
$28,360
2 bedrooms
$927
$17.83
$37,080
3 bedrooms
$1,196
$23.00
$47,840
4 bedrooms
$1,335
$25.67
$53,400
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Iowa Falls
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Iowa Falls is in ZIP code 50126.
For 2 bedrooms it is $1,010: $83 more than the fair market rent for Hardin County ($927).
Fair market rent by ZIP code and size in Iowa Falls, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
50126
$750
$770
$1,010
$1,300
$1,460
ZIP code2 bd3 bd
50126 $1,010$1,300
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Iowa Falls when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
HUD lists 3 buildings with rents for lower incomes in Iowa Falls. These are the largest.
Pheasant Run Apts1430 Georgetown Rd, Iowa Falls 5012632 low-income homes · 2 bd: 16 · 3 bd: 16 · In service since 2000 · For people with disabilities, families
Marion Manor I224 Marion Dr, Iowa Falls 5012624 low-income homes · 1 bd: 24 · In service since 2012 · For older adults
Marion Manor II1228 N Fremont St, Iowa Falls 5012616 low-income homes · 1 bd: 8 · 2 bd: 8 · In service since 2012 · For families
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
We found no HUD-approved agencies with an office in Hardin County. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for Iowa Falls or Hardin County. The ones below are statewide in Iowa: they work in Iowa Falls the same as in the rest of the state.
With the Iowa state authority's FirstHome mortgage, a first-time buyer can get a second loan of up to 3% of the price (maximum $10,000) or up to 5% (maximum $15,000), with no monthly payments, repaid when you sell, refinance or pay off the mortgage.Offered by Iowa Finance Authority (IFA).
Iowa state authority second loan, with the Homes for Iowans mortgage, of up to 3% of the price (maximum $10,000) or 5% (maximum $15,000) for the down payment and closing costs; no monthly payments, and for any buyer.Offered by Iowa Finance Authority (IFA).
No legal help resource on our list is for Iowa Falls or Hardin County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Iowa Falls and all of Hardin County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Iowa Falls?
The typical home value in Iowa Falls is $123,800, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Hardin County it is $122,500.
How much does it cost to rent in Iowa Falls?
Typical rent in Iowa Falls is $831 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Hardin County is $927.
What is the FHA loan limit in Iowa Falls?
Iowa Falls uses the FHA limit for all of Hardin County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Iowa Falls?
The typical homeowner in Iowa Falls pays $1,983 a year, according to the U.S. Census Bureau. That is 1.6% of the home’s value; in Hardin County, the rate is 1.37%.
Where can I find free help to buy or rent in Iowa Falls?
We found no HUD-approved counseling agencies with an office in Hardin County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
