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City Report · IA

Ames

Pop. 67,669·21st most expensive in Iowa·One of the most affordable rental markets in the US
Median rent (all units)
$1,125/mo
Year-over-Year
+4.8%
Month-over-Month
+4.8%
vs US Median
-$840
Rising (Monthly)
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Most AffordableMost Expensive
Ames · $1,125
More affordable than 94% of US cities · National median $1,965/mo
Rent Reality Score
34/100
Overpriced
OverheatedFairGreat value

Rents are 8% above what Ames's 10-year trend predicts — running hotter than its own history.

Actual rent
$1,125/mo
Expected by trend
$1,043/mo
The Rent Reality Score compares today's median rent to where Ames's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$935
1 BR
$1,015
2 BR
$1,130
3 BR
$1,580
4 BR+
$1,890
Research median
$1,130/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$13,500/yr
At $1,125/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 4.8% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+4.8% YoY, +4.8% MoM), not inventory.
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Demographics

Who lives here

Ames, IA is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 65.8% of residents hold a bachelor's degree or higher.

Population
67,669
Median income
$60,991
Median age
23.3
Renters
57.9%
Age distribution
56.8%
14.5%
Under 1811.2%
18–3456.8%
35–5414.5%
55–646.5%
65+11.1%
Gender
53%
47%
Male53%
Female47%
Race & ethnicity
78.2%
White78.2%
Black3.9%
Hispanic5.1%
Asian9.3%
Other3.4%
Education (25+)
20.4%
65.8%
No HS diploma2.1%
HS diploma11.8%
Some college20.4%
Bachelor's+65.8%
Housing tenure
42.1%
57.9%
Owner42.1%
Renter57.9%

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

2021 vs 2026

How Ames, IA has changed in 5 years

Rent
$864 → $1,125
up 30.2%
Income
$54,339 → $60,991
up 12.2%
Population
65,522 → 67,669
up 3.3%
Renter share
57.6% → 57.9%
+0.3 pts
Bachelor's+
61.4% → 65.8%
+4.4 pts

Compared with 2021, rent in Ames, IA has climbed by $261 per month, settling near $1,125 after starting the period at $864. Median household income grew from $54,339 to $60,991 between 2021 and 2024, a 12.2% shift. Rent outpaced income growth by roughly 18.0 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 65,522 to 67,669 between 2021 and 2024, a 3.3% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 61.4% to 65.8%. Taken together, the five-year picture in Ames, IA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

Community

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

Can you afford rent in Ames on your salary?

At $1,125/mo, how Ames rent compares to typical pay (30% rule).

By apartment size

Ames rent by bedroom count

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

Local insights

Tips for renters in Ames

About renting in Ames, IA

Last updated: July 20, 2026

The median rent in Ames is $1,125/mo as of July 2026. A studio apartment averages $935/mo while a 2-bedroom runs $1,130/mo. One-bedroom apartments average $1,015/mo and 3-bedroom units go for $1,580/mo.

At 22% of local median household income ($60,991/yr), Ames ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.8% over the past year.

FAQ

Frequently asked questions

Is Ames an affordable city for renters?

Ames is considered very affordable for renters. At $1,125/mo, rent takes approximately 22% of the local median household income ($60,991/yr). The standard benchmark is 30%. Ames falls comfortably within that range.

How much income do you need to rent in Ames?

To keep rent at or below 30% of gross income, you would need to earn at least $45,000/year (~$22/hour full-time) to afford the median rent of $1,125/mo in Ames. The local median household income is $60,991/yr, meaning the typical Ames household meets that threshold.

Is rent going up or down in Ames?

Rent in Ames has increased 4.8% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Ames neighborhoods have the lowest rent?

The most affordable ZIP codes in Ames are 50014 ($1,100/mo), and 50010 ($1,210/mo). Citywide, the median rent in Ames is $1,125/mo.

How does Ames rent compare to other cities in Iowa?

Ames is middle-of-the-pack for Iowa for rent, ranking #21 out of 32 tracked cities at $1,125/mo.

Which nearby cities are cheaper to rent in than Ames?

Boone is nearby and more affordable at $947/mo, which is $178 less than Ames.

What percentage of Ames residents rent vs. own?

According to Census data, approximately 57.9% of Ames households are renters, while 42.1% are owner-occupied. With a majority renter population, Ames has a strong rental market.

How does Ames rent compare to the national average?

Ames's median rent of $1,125/mo is $840 (43%) below the US national median of $1,965/mo. Within Iowa, it ranks #21 out of 32 tracked cities.
Income Affordability
22%
VERY AFFORDABLE

At $1,125/mo, rent takes ~22% of Ames's median household income ($60,991/yr). The standard benchmark is 30%.

Ames 22%Benchmark 30%
State income tax3.8%
Run the Ames affordability calculator →
Lowest-rent ZIP codes in Ames
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Ames, IA

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