In Red Oak, a typical home is worth $99,700 and typical rent is $812 a month. Compared with all of Montgomery County, typical household income is 21% lower, the typical home value is 18% lower, and the share of households that own their home is 9 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $104,848 to $134,212.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Red Oak is in Montgomery 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 Montgomery County. See the county
What this place has that others do not, from public data, most unusual first.
1
Red Oak has the largest share of rent-burdened renters of the 81 cities in Iowa with more than 5,000 people: 63%.
2
Red Oak has the 3rd lowest typical home value of the 86 cities in Iowa with more than 5,000 people ($99,700).
3
Red Oak has the 4th lowest typical household income of the 86 cities in Iowa with more than 5,000 people ($50,109).
4
According to Zillow, in the 12 months to September 2026 the typical home value in Red Oak fell 3.5%; in Iowa, it rose 3.3%.
5
Nearby, in Clarinda, the typical rent is $660: 19% less than in Red Oak ($812).
6
Red Oak has the 6th lowest homeownership rate of the 86 cities in Iowa with more than 5,000 people (60%).
Sources: U.S. Census Bureau (Average 2020–2024); Zillow (September 2026 data). Zillow data
The homes here
Housing in Red Oak
What homes there are in Red Oak, 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
Red Oak
Montgomery County
Iowa
United States
Kind of home: Red Oak and its comparisons
Measure
Red Oak
Montgomery County
Iowa
United States
Detached house
77%
82%
72%
61%
Attached house
Unreliable estimate
Unreliable estimate
5%
6%
Building of 2 to 4
11%
9%
6%
8%
Apartments (5 or more)
Unreliable estimate
Unreliable estimate
14%
19%
Mobile home
Unreliable estimate
3%
3%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
Detached houses are the majority in Red Oak (77%), but less so than in Montgomery County (82%).
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Red Oak
Montgomery County
Iowa
United States
Year built: Red Oak and its comparisons
Measure
Red Oak
Montgomery County
Iowa
United States
Before 1960
45%
51%
38%
26%
1960–1979
33%
25%
24%
24%
1980–1999
9%
12%
17%
25%
2000–2009
7%
8%
11%
14%
2010 or later
Unreliable estimate
Unreliable estimate
11%
11%
Homes in Red Oak are newer: the typical year built is 1963; in Montgomery County, 1959.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100K50%
$100K–$200K29%
$200K–$300K14%
$300K–$500KUnreliable
$500K–$750KUnreliable
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Red Oak and its comparisons
Measure
Red Oak
Under $100K
50%
$100K–$200K
29%
$200K–$300K
14%
$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–$99966%
$1,000–$1,499Unreliable
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Red Oak and its comparisons
Measure
Red Oak
Under $500
Unreliable estimate
$500–$999
66%
$1,000–$1,499
Unreliable estimate
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable
With a mortgage
$995 a month
Montgomery County: $1,099 a month
Without a mortgage
$460 a month
Montgomery County: $519 a month
Owners with a mortgage
56%
Montgomery County: 51%
The typical cost for an owner with a mortgage in Red Oak is $995 a month, less than in Montgomery County ($1,099); without one, $460.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Red OakNo clear change
Montgomery County+42%
Iowa+41%
United States+53%
Typical rent
Red Oak+27%
Montgomery County+26%
Iowa+23%
United States+33%
Typical household income
Red OakNo clear change
Montgomery County+23%
Iowa+24%
United States+29%
Change since 2015–2019: Red Oak and its comparisons
Measure
Red Oak
Montgomery County
Iowa
United States
Typical home value
No clear change
+42%
+41%
+53%
Typical rent
+27%
+26%
+23%
+33%
Typical household income
No clear change
+23%
+24%
+29%
Since 2015–2019, home values in Red Oak moved so little that the Census cannot say whether they rose or fell.
The typical rent in Red Oak rose 27% since 2015–2019, about the same as in Montgomery County (26%).
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Red Oak and its comparisons
Measure
Red Oak
Montgomery 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
2.20
2.18
2.36
2.53
Drive alone
75%
78%
76%
69%
Carpool
13%
10%
8%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
Unreliable estimate
3%
3%
Work from home
Unreliable estimate
10%
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
Much as in Montgomery County, a household in Red Oak has 2.20 people on average.
In Red Oak, 13% of workers share a car to get to work; in Montgomery County, 10%.
Do the math
What would you pay each month for a home in Red Oak?
A typical home is within reach of the typical income
We start with a typical home in Red Oak, worth $99,700, 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 Red Oak, which is $50,109 a year.
The calculator's FHA and conventional loan limits are those of all of Montgomery 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 Red Oak. 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 $3,490 (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
$912
at 7.18% · 30 years
Loan amount
$97,894
Total interest
$140,846
Paid off in
November 2056
Includes $1,684 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,169 a month
Your payment · 22%
Tight
$1,169 to $1,503 a month
Hard
more than $1,503 a month
Compared with the typical household income in Red Oak ($50,109 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$663
Property tax
$163
Home insurance
$42
FHA mortgage insurance (MIP)
$44
You need at least $3,490 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 $912; principal and interest $663.
The city and its county
Red Oak and Montgomery County
Red Oak is in Montgomery 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).
Red Oak
Map of Montgomery County, Iowa, with Red Oak marked. Around it, the neighboring counties.
Red Oak
Montgomery County
Red Oak's own numbers
Typical home value
$99,700
Typical monthly rent
$812
Typical yearly household income
$50,109
Households that own their home
60%
Effective property tax rate
1.96%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Montgomery 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)
+82%
Homes in a high flood-risk zone
15%
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 Montgomery County.
A typical home in Red Oak is worth $99,700: 18% below the county and 52% below Iowa. With the typical household income in Red Oak ($50,109 a year), a typical home costs 2.0 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.
Red Oak2.0 years
Montgomery1.9 years
Iowa2.8 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Montgomery County
According to FHFA’s house price index, home prices in Montgomery County rose 97% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Montgomery County.
Yearly change in FHFA’s price index in Montgomery County, 2016 to 2025
2016: −5.1% −5.1% 2016
2017: +4.0% +4.0% 2017
2018: +4.3% +4.3% 2018
2019: +7.6% +7.6% 2019
2020: −2.4% −2.4% 2020
2021: +12.3% +12.3% 2021
2022: +16.6% +16.6% 2022
2023: +6.1% +6.1% 2023
2024: +13.7% +13.7% 2024
2025: +15.5% +15.5% 2025
Change in FHFA’s price index in Montgomery County, Iowa and the United States
Period
County
Iowa
U.S.
Last year (2025)
+15.5%
+3.2%
+2.9%
5 years (2020–2025)
+82%
+41%
+47%
10 years (2015–2025)
+97%
+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
Red Oak next to Montgomery 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
Red Oak$99,700
Montgomery$121,400
Iowa$208,000
United States$332,700
Typical monthly rent
Red Oak$812
Montgomery$814
Iowa$972
United States$1,413
Typical yearly household income
Red Oak$50,109
Montgomery$63,666
Iowa$75,059
United States$80,734
See the full table
Red Oak next to Montgomery County and Iowa
Measure
Red Oak
Montgomery County
Iowa
U.S.
Typical home value
$99,700 ▼18% below the county
$121,400
$208,000
$332,700
Typical monthly rent
$812
$814
$972
$1,413
Typical yearly household income
$50,109 ▼21% below the county
$63,666
$75,059
$80,734
Households that own their home
60% ▼9 points below the county
69%
72%
65%
Typical yearly property tax
$1,950 ▼3% below the county
$2,007
$2,897
$3,119
Effective property tax rate
1.96% ▲0.31 points above the county
1.65%
1.39%
0.94%
Renters with high rent for their income
63% ▲9 points above the county
53%
44%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Montgomery 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 Red Oak
For a typical $99,700 home in Red Oak, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Red Oak's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$912a month
Least cash to close
Down payment
$3,490
Cash to close
$6,481
Rate
7.18%
Mortgage insurance
FHA MIP · $44
Conventional, 5% down$893a month
Down payment
$4,985
Cash to close
$7,976
Rate
7.18%
Mortgage insurance
PMI · $47
Conventional, 20% down, no PMI$745a month
Down payment
$19,940
Cash to close
$22,931
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$837a month
Down payment
$14,955
Cash to close
$17,946
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Red Oak
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$912
$3,490
$97,894
7.18%
FHA MIP · $44
$6,481
580
Conventional, 5% down
$893
$4,985
$94,715
7.18%
PMI · $47
$7,976
620*
Conventional, 20% down, no PMI
$745
$19,940
$79,760
7.18%
None
$22,931
620*
ITIN, 15% down (example)
$837
$14,955
$84,745
8.18%
None
$17,946
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 Red Oak is $812 a month: about the same as the county. In Red Oak, 63% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Montgomery 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 Montgomery County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$688
$13.23
$27,520
1 bedroom
$852
$16.38
$34,080
2 bedrooms
$927
$17.83
$37,080
3 bedrooms
$1,267
$24.37
$50,680
4 bedrooms
$1,378
$26.50
$55,120
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 Red Oak
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Red Oak is in ZIP code 51566.
For 2 bedrooms it is $1,010: $83 more than the fair market rent for Montgomery County ($927).
Fair market rent by ZIP code and size in Red Oak, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
51566
$750
$930
$1,010
$1,400
$1,520
ZIP code2 bd3 bd
51566 $1,010$1,400
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Red Oak 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 one building with rents for lower incomes in Red Oak.
Acorn Acres Phase II1805 N 8th St, Red Oak 5156650 low-income homes · For older adults · Run by Low Rent Housing Agency Of Red Oak · Average payment: $472 a month · Average wait: 5 months(712) 623-4558
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 Montgomery 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 Red Oak or Montgomery County. The ones below are statewide in Iowa: they work in Red Oak 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 Red Oak or Montgomery 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 Red Oak and all of Montgomery 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 Red Oak?
The typical home value in Red Oak is $99,700, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Montgomery County it is $121,400.
How much does it cost to rent in Red Oak?
Typical rent in Red Oak is $812 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Montgomery County is $927.
What is the FHA loan limit in Red Oak?
Red Oak uses the FHA limit for all of Montgomery 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 Red Oak?
The typical homeowner in Red Oak pays $1,950 a year, according to the U.S. Census Bureau. That is 1.96% of the home’s value; in Montgomery County, the rate is 1.65%.
Where can I find free help to buy or rent in Red Oak?
We found no HUD-approved counseling agencies with an office in Montgomery County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
