At $1,583/mo, rent takes about 22% of the local median household income, comfortably within the 30% benchmark.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,583 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
Rent in Altoona changed +0.4% over the year to September 2026. Across the 26 Iowa cities Zillow tracks, the typical change was +4.5%.
Rent has risen 4 months in a row, and rose in 7 of the last 12 months.
30% of the median household income ($86,114) is $2,153 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,740).
Pleasant Hill, 4 miles away, rents for 15% less ($1,339/mo), about $2,900 a year in savings.
From Zillow's monthly rent index (ZORI) for Altoona. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Altoona, IA is majority owner-occupied, has a large share of families with children, 33.5% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Altoona, IA has changed in 5 years
Household income in the area moved from $83,514 to $86,114 across the same window, up 3.1% versus 2021. Headcount in the area went from 19,345 to 21,495 between 2021 and 2024, a 11.1% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 29.7% to 33.5%.
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Can you afford rent in Altoona on your salary?
At $1,583/mo, how Altoona rent compares to typical pay (30% rule).
Altoona rent by bedroom count
Median rent for each apartment size in Altoona. Click any size for full breakdown.
Tips for renters in Altoona
Last updated: October 17, 2026
The median rent in Altoona is $1,583/mo as of October 2026. A studio apartment averages $1,010/mo while a 2-bedroom runs $1,290/mo. One-bedroom apartments average $1,080/mo and 3-bedroom units go for $1,730/mo.
At 22% of local median household income ($86,114/yr), Altoona ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.4% over the past year.
Frequently asked questions
How much income do you need to rent in Altoona?
Is rent going up or down in Altoona?
How does Altoona rent compare to other cities in Iowa?
Which nearby cities are cheaper to rent in than Altoona?
At $1,583/mo, rent takes ~22% of Altoona's median household income ($86,114/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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