The 52601 zip code in Burlington tops our ranking of the most affordable places to live in Iowa.
We looked at 75 zip codes in the state, evaluating home values, rental costs, energy rates, property taxes, and five other affordability indicators. We used the data we gathered to calculate our proprietary Affordability Score for each zip code.
Top 10 most affordable places to live in Iowa
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Burlington 🥇 | 100.0 | $124,206 | $881 |
| 2 | Fort Madison 🥈 | 99.7 | $107,956 | $1,150 |
| 3 | Fort Dodge 🥉 | 98.4 | $128,652 | $825 |
| 4 | Davenport | 98.1 | $162,458 | $871 |
| 5 | Clinton | 96.7 | $127,176 | $781 |
| 6 | Keokuk | 95.5 | $81,040 | $1,150 |
| 7 | Knoxville | 92.6 | $203,490 | $956 |
| 8 | Waterloo | 92.4 | $92,144 | $896 |
| 9 | Des Moines | 90.0 | $185,265 | $1,073 |
| 10 | Boone | 89.6 | $208,480 | $835 |
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1. Burlington
Here's why the 52601 zip code in Burlington is Iowa's most affordable place to live.
🔎 Key data about Burlington
| Data point | Value | Rank (out of 75 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $124,206[1] | No. 5 | -$120,592.56 |
| Home affordability ratio | 2.0 | No. 6 | -1.1 |
| Home value five-year change | 11.8%[2] | No. 2 | -15.6% |
| Home value one-year forecast | -2.4%[3] | No. 2 | -2.4% |
| Rental costs | $881[4] | No. 8 | -$270 |
| Rent affordability ratio | 1.44% | No. 26 | 0.0% |
| Median household income | $60,983[5] | No. 64 | -$16,533 |
| Property taxes | $1,991[6] | No. 3 | -$1,671 |
| Energy costs | $0.15 kWh[7] | No. 58 | $0.02 |
Burlington's 52601 zip code is the cheapest place to live in Iowa, leading the 75 markets we evaluated.
The median home value is $124,206, making it the 5th-cheapest housing market in the state. Forecasts project a -2.4% change in home values in the next year. Rent in the zip code averages $881 per month, which is the 26th cheapest amount in Iowa.
The median property tax for homeowners in Burlington is $1,991 per household, the No. 3 ranked market in Iowa.
Residents pay $0.15 per kWh of electricity, which ranks No. 58 among Iowa markets.
2. Fort Madison
The 52627 zip code is the 2nd-cheapest place to live in Iowa.
🔎 Key data about Fort Madison
| Data point | Value | Rank (out of 75 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 99.7 | No. 2 | N/A |
| Median home value | $107,956[8] | No. 3 | -$136,842.47 |
| Home affordability ratio | 1.9 | No. 3 | -1.2 |
| Home value five-year change | 10.9%[9] | No. 1 | -16.5% |
| Home value one-year forecast | -2.3%[10] | No. 3 | -2.3% |
| Rental costs | $1,150[11] | No. 31 | $0 |
| Rent affordability ratio | 1.48% | No. 29 | 0.0% |
| Median household income | $56,401[12] | No. 71 | -$21,115 |
| Property taxes | $1,736[13] | No. 2 | -$1,926 |
| Energy costs | $0.16 kWh[14] | No. 69 | $0.03 |
Fort Madison's 52627 zip code has a median home value of $107,956, which is the 3rd-cheapest housing market in Iowa. You can rent for an average of $1,150 per month. That's the 31st-cheapest price in the state.
The average household income in the zip code is $56,401, which ranks 71st-highest in the state.
Homeowners in Fort Madison pay a median property tax of $1,736 per year, making it the 2nd-most affordable market in Iowa.
Fort Madison ranks No. 69 among Iowa energy markets. You'll pay $0.16 per kWh of electricity.
3. Fort Dodge
The 3rd-cheapest place to live in Iowa is Fort Dodge's 50501 zip code.
🔎 Key data about Fort Dodge
| Data point | Value | Rank (out of 75 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.4 | No. 3 | N/A |
| Median home value | $128,652[15] | No. 7 | -$116,146.30 |
| Home affordability ratio | 1.9 | No. 5 | -1.2 |
| Home value five-year change | 13.7%[16] | No. 4 | -13.7% |
| Home value one-year forecast | 0.0%[17] | No. 39 | 0.0% |
| Rental costs | $825[18] | No. 4 | -$325 |
| Rent affordability ratio | 1.23% | No. 10 | -0.3% |
| Median household income | $66,888[19] | No. 45 | -$10,628 |
| Property taxes | $2,361[20] | No. 14 | -$1,301 |
| Energy costs | $0.13 kWh[21] | No. 41 | $0.00 |
The No. 7 cheapest housing market in Iowa is Fort Dodge's 50501 zip code, with a median home value of $128,652. Rents in the market average $825 per month, making it the 4th-most affordable rental market in the state.
The median property tax for households in Fort Dodge is $2,361, which makes it the 14th-cheapest place in Iowa. Fort Dodge ranks No. 41 among Iowa markets by energy costs. Residents pay $0.13 per kWh of electricity.
4. Davenport
The 52803 zip code in Davenport comes in at No. 4 on our list of the cheapest places to live in Iowa.
🔎 Key data about Davenport
| Data point | Value | Rank (out of 75 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 98.1 | No. 4 | N/A |
| Median home value | $162,458[22] | No. 11 | -$82,340.41 |
| Home affordability ratio | 2.5 | No. 11 | -0.6 |
| Home value five-year change | 18.3%[23] | No. 5 | -9.1% |
| Home value one-year forecast | -1.0%[24] | No. 4 | -1.0% |
| Rental costs | $871[25] | No. 7 | -$279 |
| Rent affordability ratio | 1.35% | No. 19 | -0.1% |
| Median household income | $64,543[26] | No. 51 | -$12,973 |
| Property taxes | $2,653[27] | No. 23 | -$1,009 |
| Energy costs | $0.11 kWh[28] | No. 4 | -$0.02 |
The No. 11 cheapest housing market in Iowa is Davenport's 52803 zip code, where the median home value is $162,458. Renters here pay an average of $871 per month.
When it comes to energy costs, Davenport ranks 4th among Iowa markets. Residents pay $0.11 per kWh of electricity.
The median property tax for households in the zip code is $2,653, which makes it the 23rd-cheapest market in Iowa.
5. Clinton
The 52732 zip code in Clinton ranks No. 5 among Iowa's most affordable places to live.
🔎 Key data about Clinton
| Data point | Value | Rank (out of 75 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 96.7 | No. 5 | N/A |
| Median home value | $127,176[29] | No. 6 | -$117,622.54 |
| Home affordability ratio | 2.1 | No. 7 | -1.1 |
| Home value five-year change | 20.5%[30] | No. 7 | -6.9% |
| Home value one-year forecast | -0.3%[31] | No. 9 | -0.3% |
| Rental costs | $781[32] | No. 2 | -$369 |
| Rent affordability ratio | 1.28% | No. 12 | -0.2% |
| Median household income | $61,105[33] | No. 63 | -$16,411 |
| Property taxes | $2,203[34] | No. 9 | -$1,459 |
| Energy costs | $0.14 kWh[35] | No. 47 | $0.01 |
Clinton's 52732 zip code has a median home value of $127,176, the 6th-cheapest market in the state. Forecasts project a -0.3% change in home values in the next year.
The median property tax per household in Clinton is $2,203. It's the 9th-cheapest market by tax rate in Iowa.
6. Keokuk
The No. 6 most affordable place to live in Iowa is the 52632 zip code.
🔎 Key data about Keokuk
| Data point | Value | Rank (out of 75 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 95.5 | No. 6 | N/A |
| Median home value | $81,040[36] | No. 1 | -$163,758.32 |
| Home affordability ratio | 1.4 | No. 1 | -1.7 |
| Home value five-year change | 27.4%[37] | No. 32 | 0.0% |
| Home value one-year forecast | -2.7%[38] | No. 1 | -2.7% |
| Rental costs | $1,150[39] | No. 31 | $0 |
| Rent affordability ratio | 1.48% | No. 29 | 0.0% |
| Median household income | $56,653[40] | No. 70 | -$20,863 |
| Property taxes | $2,006[41] | No. 5 | -$1,656 |
| Energy costs | $0.18 kWh[42] | No. 74 | $0.05 |
The back half of our top 10 kicks off with Keokuk's 52632 zip code, which has the 1st-cheapest home values in Iowa. The median home value is $81,040. Rents average $1,150 per month, making it the 31st-most affordable rental market in the state.
Residents pay $0.18 per kWh of electricity. It's the 74th-cheapest energy market.
7. Knoxville
Knoxville's 50138 zip code is the 7th-cheapest place to live in Iowa.
🔎 Key data about Knoxville
| Data point | Value | Rank (out of 75 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 92.6 | No. 7 | N/A |
| Median home value | $203,490[43] | No. 32 | -$41,308.70 |
| Home affordability ratio | 2.7 | No. 19 | -0.4 |
| Home value five-year change | 26.2%[44] | No. 25 | -1.2% |
| Home value one-year forecast | 0.0%[45] | No. 39 | 0.0% |
| Rental costs | $956[46] | No. 15 | -$195 |
| Rent affordability ratio | 1.28% | No. 13 | -0.2% |
| Median household income | $74,693[47] | No. 33 | -$2,823 |
| Property taxes | $2,549[48] | No. 18 | -$1,113 |
| Energy costs | $0.11 kWh[49] | No. 4 | -$0.02 |
You'll find the 32nd-cheapest home values in Iowa in Knoxville's 50138 zip code. The median value: $203,490. Renters in Knoxville pay an average of $956 per month.
Homeowners in Knoxville pay a median property tax of $2,549 per year, which is Iowa's 18th-most affordable market.
The average household income is $74,693, which ranks 33rd-highest in the state.
8. Waterloo
The 8th-cheapest place to live in Iowa is Waterloo's 50703 zip code.
🔎 Key data about Waterloo
| Data point | Value | Rank (out of 75 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 92.4 | No. 8 | N/A |
| Median home value | $92,144[50] | No. 2 | -$152,654.25 |
| Home affordability ratio | 1.8 | No. 2 | -1.3 |
| Home value five-year change | 23.4%[51] | No. 16 | -4.0% |
| Home value one-year forecast | 0.5%[52] | No. 68 | 0.5% |
| Rental costs | $896[53] | No. 9 | -$255 |
| Rent affordability ratio | 1.79% | No. 63 | 0.3% |
| Median household income | $50,060[54] | No. 74 | -$27,456 |
| Property taxes | $1,582[55] | No. 1 | -$2,080 |
| Energy costs | $0.11 kWh[56] | No. 2 | -$0.02 |
The 2nd-cheapest housing market in Iowa is Waterloo's 50703 zip code, with a median home value of $92,144. Renters pay an average of $896 per month, the No. 9 rental market in the state.
The median property tax for households in Waterloo is $1,582, which makes it the 1st-cheapest place in Iowa. The average household income of $50,060 ranks 74th.
9. Des Moines
Des Moines's 50313 zip code sneaks into the top ten of Iowa's most affordable places to live.
🔎 Key data about Des Moines
| Data point | Value | Rank (out of 75 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 90.0 | No. 9 | N/A |
| Median home value | $185,265[57] | No. 20 | -$59,533.41 |
| Home affordability ratio | 2.7 | No. 18 | -0.4 |
| Home value five-year change | 29.6%[58] | No. 39 | 2.2% |
| Home value one-year forecast | -0.2%[59] | No. 10 | -0.2% |
| Rental costs | $1,073[60] | No. 22 | -$77 |
| Rent affordability ratio | 1.57% | No. 52 | 0.1% |
| Median household income | $68,361[61] | No. 43 | -$9,155 |
| Property taxes | $2,933[62] | No. 31 | -$729 |
| Energy costs | $0.11 kWh[63] | No. 4 | -$0.02 |
The 20th-cheapest housing market in Iowa is Des Moines's 50313 zip code, where the median home value is $185,265. Renters pay an average of $1,073 per month. It's the state's 22nd-cheapest rental market.
The median property tax for households within the zip code is $2,933, which makes it the 31st-cheapest property tax rate in Iowa.
10. Boone
The final spot on our list of the most affordable places to live in Iowa goes to the 50036 zip code in Boone.
🔎 Key data about Boone
| Data point | Value | Rank (out of 75 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 89.6 | No. 10 | N/A |
| Median home value | $208,480[64] | No. 34 | -$36,318.73 |
| Home affordability ratio | 2.6 | No. 13 | -0.5 |
| Home value five-year change | 30.2%[65] | No. 46 | 2.8% |
| Home value one-year forecast | -0.1%[66] | No. 18 | -0.1% |
| Rental costs | $835[67] | No. 5 | -$316 |
| Rent affordability ratio | 1.05% | No. 3 | -0.4% |
| Median household income | $79,255[68] | No. 24 | $1,739 |
| Property taxes | $2,931[69] | No. 30 | -$731 |
| Energy costs | $0.16 kWh[70] | No. 59 | $0.03 |
The 34th-most affordable market in Iowa is Boone's 50036 zip code. The median home value is $208,480. Rent in the market costs $835 per month on average, making it the 5th-most affordable rental market in Iowa.
The median property tax for households in Boone is $2,931, which is the 30th-cheapest property tax rate in the state.
Boone ranks No. 59 among Iowa markets by energy costs, with households paying $0.16 per kWh of electricity.
How we ranked the most affordable places in Iowa
We evaluated 75 zip codes in Iowa with a population over 10,000 on nine metrics. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Iowa, the higher our score on this component. We assign a weight of 13.0% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 28.0% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 10.0% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 8.0% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 7.0% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 5.0% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 17.0% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Iowa average, the higher our score on this component. We assign a weight of 8.0% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Iowa average, the higher our score on this component. We assign a weight of 4.0% to energy costs.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code. Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
