Fort Madison, IA

Very Low · 48

Iowa · Population 10,221 · Updated March 2026

$824
Median Rent / Month
$49,359
Median Income
$95,900
Median Home Value
$822
Owner Costs / Month

Affordability

How far your income goes in Fort Madison

20.0%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Iowa

State-level tax rates that affect your costs

5.7%
Income Tax (Top Rate)
6.0%
Sales Tax
1.57%
Property Tax Rate

Estimated Annual Costs

$9,888
Annual Rent
$2,813
State Income Tax
$1,506
Property Tax (est.)

Cost of Living Overview

Fort Madison is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 48 (where 100 equals the national median), Fort Madison residents can expect to pay median rent of $824/month while earning a median household income of $49,359/year.

The median home value in Fort Madison, IA is $95,900, with typical monthly owner costs around $822 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.0% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Iowa has a moderate income tax rate of 5.7%. Combined with a 6.0% sales tax rate and 1.57% effective property tax rate, the overall tax environment is a factor in the total cost of living in Fort Madison.

Frequently Asked Questions

Common questions about living costs in Fort Madison

What is the cost of living in Fort Madison, IA?
The cost of living index in Fort Madison, IA is 48 (US average = 100). Median monthly rent is $824, median household income is $49,359/year, and the median home value is $95,900.
Is Fort Madison, IA affordable?
Yes, Fort Madison is more affordable than the national average with a cost index of 48. The rent-to-income ratio is 20.0%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Fort Madison, IA?
The median gross rent in Fort Madison, IA is $824 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $9,888.
What is the median household income in Fort Madison?
The median household income in Fort Madison, IA is $49,359 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Iowa?
Iowa has a top income tax rate of 5.7%, a sales tax of 6.0%, and an effective property tax rate of 1.57%.