In Oelwein, a typical home is worth $96,300 and typical rent is $847 a month. Compared with all of Fayette County, the typical home value is 30% lower and typical household income is 22% lower.
Typical home value from Zillow, September 2021 to September 2026: from $87,543 to $109,982.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Oelwein is in Fayette 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 Fayette County. See the county
What this place has that others do not, from public data, most unusual first.
1
Oelwein has the 2nd lowest typical home value of the 86 cities in Iowa with more than 5,000 people ($96,300).
2
Oelwein has the 3rd lowest typical household income of the 86 cities in Iowa with more than 5,000 people ($46,653).
3
Oelwein has the 5th largest share of rent-burdened renters of the 81 cities in Iowa with more than 5,000 people (57%).
4
According to Zillow, in the 12 months to September 2026 the typical home value in Oelwein barely changed; in Iowa, it rose 3.3%.
Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data
The homes here
Housing in Oelwein
What homes there are in Oelwein, 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
Oelwein
Fayette County
Iowa
United States
Kind of home: Oelwein and its comparisons
Measure
Oelwein
Fayette County
Iowa
United States
Detached house
82%
85%
72%
61%
Attached house
Unreliable estimate
1%
5%
6%
Building of 2 to 4
10%
5%
6%
8%
Apartments (5 or more)
Unreliable estimate
Unreliable estimate
14%
19%
Mobile home
Unreliable estimate
6%
3%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
The detached house is the most common home in Oelwein: 82% of homes, near the figure in Fayette County (85%).
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Oelwein
Fayette County
Iowa
United States
Year built: Oelwein and its comparisons
Measure
Oelwein
Fayette County
Iowa
United States
Before 1960
60%
56%
38%
26%
1960–1979
18%
19%
24%
24%
1980–1999
15%
15%
17%
25%
2000–2009
Unreliable estimate
6%
11%
14%
2010 or later
Unreliable estimate
4%
11%
11%
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100K52%
$100K–$200K32%
$200K–$300K8%
$300K–$500KUnreliable
$500K–$750KUnreliable
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Oelwein and its comparisons
Measure
Oelwein
Under $100K
52%
$100K–$200K
32%
$200K–$300K
8%
$300K–$500K
Unreliable estimate
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable
$1M or more
Unreliable estimate
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99942%
$1,000–$1,49935%
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Oelwein and its comparisons
Measure
Oelwein
Under $500
Unreliable estimate
$500–$999
42%
$1,000–$1,499
35%
$1,500–$1,999
Unreliable
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$1,148 a month
Fayette County: $1,239 a month
Without a mortgage
$478 a month
Fayette County: $557 a month
Owners with a mortgage
55%
Fayette County: 51%
In Oelwein, 55% of owners have a mortgage, and their typical cost is $1,148 a month, against $1,239 in Fayette County. Without one it drops to $478.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
OelweinNo clear change
Fayette County+31%
Iowa+41%
United States+53%
Typical rent
Oelwein+30%
Fayette County+44%
Iowa+23%
United States+33%
Typical household income
OelweinNo clear change
Fayette County+18%
Iowa+24%
United States+29%
Change since 2015–2019: Oelwein and its comparisons
Measure
Oelwein
Fayette County
Iowa
United States
Typical home value
No clear change
+31%
+41%
+53%
Typical rent
+30%
+44%
+23%
+33%
Typical household income
No clear change
+18%
+24%
+29%
Since 2015–2019, home values in Oelwein moved so little that the Census cannot say whether they rose or fell.
The typical rent in Oelwein rose 30% over the same time; in Fayette County, it rose 44%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Oelwein and its comparisons
Measure
Oelwein
Fayette 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
2.18
2.22
2.36
2.53
Drive alone
78%
79%
76%
69%
Carpool
11%
7%
8%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
5%
3%
3%
Work from home
Unreliable estimate
7%
11%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
10 to 19 minutes
10 to 19 minutes
10 to 19 minutes
20 to 29 minutes
Much as in Fayette County, a household in Oelwein has 2.18 people on average.
More people carpool to work in Oelwein than in Fayette County: 11% against 7%.
Do the math
What would you pay each month for a home in Oelwein?
A typical home is within reach of the typical income
We start with a typical home in Oelwein, worth $96,300, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 22% of the typical household income in Oelwein, which is $46,653 a year.
The calculator's FHA and conventional loan limits are those of all of Fayette 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 Oelwein. 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 $3,371 (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
$854
at 7.18% · 30 years
Loan amount
$94,555
Total interest
$136,043
Paid off in
November 2056
Includes $1,626 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,089 a month
Your payment · 22%
Tight
$1,089 to $1,400 a month
Hard
more than $1,400 a month
Compared with the typical household income in Oelwein ($46,653 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$641
Property tax
$131
Home insurance
$40
FHA mortgage insurance (MIP)
$43
You need at least $3,371 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 $854; principal and interest $641.
The city and its county
Oelwein and Fayette County
Oelwein is in Fayette 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).
Oelwein
Map of Fayette County, Iowa, with Oelwein marked. Around it, the neighboring counties.
Oelwein
Fayette County
Oelwein's own numbers
Typical home value
$96,300
Typical monthly rent
$847
Typical yearly household income
$46,653
Households that own their home
77%
Effective property tax rate
1.63%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Fayette County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$940
Price change over 5 years (FHFA)
+41%
Homes in a high flood-risk zone
2.7%
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 Fayette County.
A typical home in Oelwein is worth $96,300: 30% below the county and 54% below Iowa. With the typical household income in Oelwein ($46,653 a year), a typical home costs 2.1 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.
Oelwein2.1 years
Fayette2.3 years
Iowa2.8 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Fayette County
According to FHFA’s house price index, home prices in Fayette County rose 64% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Fayette County.
Yearly change in FHFA’s price index in Fayette County, 2016 to 2025
2016: +3.0% +3.0% 2016
2017: +5.3% +5.3% 2017
2018: +5.5% +5.5% 2018
2019: +1.2% +1.2% 2019
2020: +0.9% +0.9% 2020
2021: +8.7% +8.7% 2021
2022: +7.0% +7.0% 2022
2023: +8.2% +8.2% 2023
2024: −0.4% −0.4% 2024
2025: +12.2% +12.2% 2025
Change in FHFA’s price index in Fayette County, Iowa and the United States
Period
County
Iowa
U.S.
Last year (2025)
+12.2%
+3.2%
+2.9%
5 years (2020–2025)
+41%
+41%
+47%
10 years (2015–2025)
+64%
+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
Oelwein next to Fayette 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
Oelwein$96,300
Fayette$136,800
Iowa$208,000
United States$332,700
Typical monthly rent
Oelwein$847
Fayette$881
Iowa$972
United States$1,413
Typical yearly household income
Oelwein$46,653
Fayette$60,165
Iowa$75,059
United States$80,734
See the full table
Oelwein next to Fayette County and Iowa
Measure
Oelwein
Fayette County
Iowa
U.S.
Typical home value
$96,300 ▼30% below the county
$136,800
$208,000
$332,700
Typical monthly rent
$847 ▼4% below the county
$881
$972
$1,413
Typical yearly household income
$46,653 ▼22% below the county
$60,165
$75,059
$80,734
Households that own their home
77%
77%
72%
65%
Typical yearly property tax
$1,565 ▼12% below the county
$1,782
$2,897
$3,119
Effective property tax rate
1.63% ▲0.33 points above the county
1.3%
1.39%
0.94%
Renters with high rent for their income
57% ▲13 points above the county
44%
44%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Fayette 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 Oelwein
For a typical $96,300 home in Oelwein, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Oelwein's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$854a month
Least cash to close
Down payment
$3,371
Cash to close
$6,260
Rate
7.18%
Mortgage insurance
FHA MIP · $43
Conventional, 5% down$836a month
Down payment
$4,815
Cash to close
$7,704
Rate
7.18%
Mortgage insurance
PMI · $46
Conventional, 20% down, no PMI$693a month
Down payment
$19,260
Cash to close
$22,149
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$782a month
Down payment
$14,445
Cash to close
$17,334
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Oelwein
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$854
$3,371
$94,556
7.18%
FHA MIP · $43
$6,260
580
Conventional, 5% down
$836
$4,815
$91,485
7.18%
PMI · $46
$7,704
620*
Conventional, 20% down, no PMI
$693
$19,260
$77,040
7.18%
None
$22,149
620*
ITIN, 15% down (example)
$782
$14,445
$81,855
8.18%
None
$17,334
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 Oelwein is $847 a month: 4% below the county. In Oelwein, 57% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Fayette County, by unit size. To pay the 2-bedroom one ($940 a month) without spending more than 30% of your income, you would need to earn $18.08 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 Fayette County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$698
$13.42
$27,920
1 bedroom
$719
$13.83
$28,760
2 bedrooms
$940
$18.08
$37,600
3 bedrooms
$1,240
$23.85
$49,600
4 bedrooms
$1,306
$25.12
$52,240
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 Oelwein
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Oelwein is in ZIP code 50662.
For 2 bedrooms it is $940: the same as the fair market rent for Fayette County.
Fair market rent by ZIP code and size in Oelwein, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
50662
$700
$720
$940
$1,240
$1,330
ZIP code2 bd3 bd
50662 $940$1,240
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Oelwein 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)
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 Fayette 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 Oelwein or Fayette County. The ones below are statewide in Iowa: they work in Oelwein 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 Oelwein or Fayette 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 Oelwein and all of Fayette 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 Oelwein?
The typical home value in Oelwein is $96,300, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Fayette County it is $136,800.
How much does it cost to rent in Oelwein?
Typical rent in Oelwein is $847 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Fayette County is $940.
What is the FHA loan limit in Oelwein?
Oelwein uses the FHA limit for all of Fayette 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 Oelwein?
The typical homeowner in Oelwein pays $1,565 a year, according to the U.S. Census Bureau. That is 1.63% of the home’s value; in Fayette County, the rate is 1.3%.
Where can I find free help to buy or rent in Oelwein?
We found no HUD-approved counseling agencies with an office in Fayette County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
