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City Report · IA

Altoona

Pop. 21,495·4th most expensive in Iowa·Altoona rents have dropped 5.3%, currently a renter's market
Median rent (all units)
$1,475/mo
Year-over-Year
-5.3%
Month-over-Month
+2.7%
vs US Median
-$487
Rising (Monthly)
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Most AffordableMost Expensive
Altoona · $1,475
More affordable than 77% of US cities · National median $1,962/mo
Affordability
21% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $1,475/mo, rent takes about 21% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$59,000/yr
Local median income
$86,114/yr
Based on the 30%-of-income rule using Altoona's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,010
1 BR
$1,080
2 BR
$1,290
3 BR
$1,730
4 BR+
$1,740
Fair Market Rent (HUD)
$1,290/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,475 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 →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$17,700/yr
At $1,475/mo median
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (-5.3% YoY, +2.7% MoM), not inventory.
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Demographics

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.

Population
21,495
Median income
$86,114
Median age
36.1
Renters
31.3%
Age distribution
25.6%
22.8%
23.5%
17.1%
Under 1825.6%
18–3422.8%
35–5423.5%
55–6411%
65+17.1%
Gender
46.4%
53.6%
Male46.4%
Female53.6%
Race & ethnicity
85.1%
White85.1%
Black5.2%
Hispanic6.5%
Asian2.1%
Other1.1%
Education (25+)
32.4%
30.4%
33.5%
No HS diploma3.8%
HS diploma32.4%
Some college30.4%
Bachelor's+33.5%
Housing tenure
68.7%
31.3%
Owner68.7%
Renter31.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Altoona, IA has changed in 5 years

Income
$83,514 → $86,114
up 3.1%
Population
19,345 → 21,495
up 11.1%
Renter share
31.9% → 31.3%
-0.6 pts
Bachelor's+
29.7% → 33.5%
+3.8 pts

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%.

Community

Discussions about Altoona

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View Altoona rent history (2015–2026) →
Salary vs rent

Can you afford rent in Altoona on your salary?

At $1,475/mo, how Altoona rent compares to typical pay (30% rule).

By apartment size

Altoona rent by bedroom count

Median rent for each apartment size in Altoona. Click any size for full breakdown.

Local insights

Tips for renters in Altoona

About renting in Altoona, IA

Last updated: August 17, 2026

The median rent in Altoona is $1,475/mo as of August 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 21% of local median household income ($86,114/yr), Altoona ranks as affordable compared to the national benchmark of 30%. Rents have decreased 5.3% over the past year.

FAQ

Frequently asked questions

Is Altoona an affordable city for renters?

Altoona is considered very affordable for renters. At $1,475/mo, rent takes approximately 21% of the local median household income ($86,114/yr). The standard benchmark is 30%. Altoona falls comfortably within that range.

How much income do you need to rent in Altoona?

To keep rent at or below 30% of gross income, you would need to earn at least $59,000/year (~$28/hour full-time) to afford the median rent of $1,475/mo in Altoona. The local median household income is $86,114/yr, meaning the typical Altoona household meets that threshold.

Is rent going up or down in Altoona?

Rent in Altoona has decreased 5.3% over the past year as of August 2026, offering some relief compared to 12 months ago.

How does Altoona rent compare to other cities in Iowa?

Altoona is one of the pricier cities in Iowa for rent, ranking #4 out of 33 tracked cities at $1,475/mo.

Which nearby cities are cheaper to rent in than Altoona?

Several nearby cities have lower median rents than Altoona ($1,475/mo): Des Moines ($1,131/mo), Urbandale ($1,203/mo), Pleasant Hill ($1,325/mo).

What percentage of Altoona residents rent vs. own?

According to Census data, approximately 31.3% of Altoona households are renters, while 68.7% are owner-occupied. Altoona leans toward homeownership, which can mean a smaller rental inventory.

How does Altoona rent compare to the national average?

Altoona's median rent of $1,475/mo is $487 (25%) below the US national median of $1,962/mo. Within Iowa, it ranks #4 out of 33 tracked cities.
Income Affordability
21%
VERY AFFORDABLE

At $1,475/mo, rent takes ~21% of Altoona's median household income ($86,114/yr). The standard benchmark is 30%.

Altoona 21%Benchmark 30%
State income tax3.8%
Run the Altoona affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Altoona, IA

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