Iowa Colony, TX

Very High · 145

Texas · Population 11,028 · Updated March 2026

$2,188
Median Rent / Month
$126,167
Median Income
$356,300
Median Home Value
$2,450
Owner Costs / Month

Affordability

How far your income goes in Iowa Colony

20.8%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Texas

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.25%
Sales Tax
1.6%
Property Tax Rate

Estimated Annual Costs

$26,256
Annual Rent
$0
State Income Tax
$5,701
Property Tax (est.)

Cost of Living Overview

Iowa Colony has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 145 (where 100 equals the national median), Iowa Colony residents can expect to pay median rent of $2,188/month while earning a median household income of $126,167/year.

The median home value in Iowa Colony, TX is $356,300, with typical monthly owner costs around $2,450 including mortgage, insurance, and taxes. The median rent-to-income ratio of 20.8% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Texas has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.25% sales tax rate and 1.6% effective property tax rate, the overall tax environment helps keep costs manageable in Iowa Colony.

Frequently Asked Questions

Common questions about living costs in Iowa Colony

What is the cost of living in Iowa Colony, TX?
The cost of living index in Iowa Colony, TX is 145 (US average = 100). Median monthly rent is $2,188, median household income is $126,167/year, and the median home value is $356,300.
Is Iowa Colony, TX affordable?
No, Iowa Colony is more expensive than the national average with a cost index of 145. The rent-to-income ratio is 20.8%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Iowa Colony, TX?
The median gross rent in Iowa Colony, TX is $2,188 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $26,256.
What is the median household income in Iowa Colony?
The median household income in Iowa Colony, TX is $126,167 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Texas?
Texas has a top income tax rate of 0%, a sales tax of 6.25%, and an effective property tax rate of 1.6%. Notably, there is no state income tax.