At $1,396/mo, rent takes about 14% 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 $1,396 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 Grimes changed +3.4% over the year to September 2026. Across the 26 Iowa cities Zillow tracks, the typical change was +4.5%.
Rent has risen 6 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($120,037) is $3,001 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,590).
Urbandale, 5 miles away, rents for 26% less ($1,038/mo), about $4,300 a year in savings.
From Zillow's monthly rent index (ZORI) for Grimes. 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
Grimes, IA is majority owner-occupied, has a large share of families with children, has a median income above the national average, 51.5% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Grimes, IA has changed in 5 years
On the earnings side, the typical household in Grimes, IA now reports about $120,037, up from $90,456 in 2021. Census counts show Grimes, IA adding about 1,524 residents over the five-year window, up 10.3% on net. The renter share has eased from 31.3% to 29.1%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 42.3% to 51.5% across the same window.
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At $1,396/mo, how Grimes rent compares to typical pay (30% rule).
Grimes rent by bedroom count
Median rent for each apartment size in Grimes. Click any size for full breakdown.
Tips for renters in Grimes
Last updated: October 17, 2026
The median rent in Grimes is $1,396/mo as of October 2026. A studio apartment averages $930/mo while a 2-bedroom runs $1,180/mo. One-bedroom apartments average $990/mo and 3-bedroom units go for $1,580/mo.
At 14% of local median household income ($120,037/yr), Grimes ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.4% over the past year.
Frequently asked questions
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Is rent going up or down in Grimes?
How does Grimes rent compare to other cities in Iowa?
Which nearby cities are cheaper to rent in than Grimes?
At $1,396/mo, rent takes ~14% of Grimes's median household income ($120,037/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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