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City Report · IA

Marshalltown

Pop. 27,626·27th most expensive in Iowa·One of the most affordable rental markets in the US
Median rent (all units)
$978/mo
Year-over-Year
Stable
Month-over-Month
+5.2%
vs US Median
-$984
Rising (Monthly)
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Most AffordableMost Expensive
Marshalltown · $978
More affordable than 98% of US cities · National median $1,962/mo
Affordability
17% of income
VERY AFFORDABLE
0%30% benchmark60%+

At $978/mo, rent takes about 17% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$39,000/yr
Local median income
$69,068/yr
Based on the 30%-of-income rule using Marshalltown's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$700
1 BR
$730
2 BR
$950
3 BR
$1,250
4 BR+
$1,260
Fair Market Rent (HUD)
$950/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $978 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
$11,736/yr
At $978/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +5.2% MoM), not inventory.
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Demographics

Who lives here

Marshalltown, IA is majority owner-occupied, has a large share of families with children, 20.9% of residents hold a bachelor's degree or higher.

Population
27,626
Median income
$69,068
Median age
35.7
Renters
31.2%
Age distribution
27%
22%
22.9%
16.5%
Under 1827%
18–3422%
35–5422.9%
55–6411.5%
65+16.5%
Gender
50.7%
49.3%
Male50.7%
Female49.3%
Race & ethnicity
60.4%
34.2%
White60.4%
Black2.8%
Hispanic34.2%
Asian4.9%
Education (25+)
18.2%
31.2%
29.7%
20.9%
No HS diploma18.2%
HS diploma31.2%
Some college29.7%
Bachelor's+20.9%
Housing tenure
68.8%
31.2%
Owner68.8%
Renter31.2%

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

2021 vs 2026

How Marshalltown, IA has changed in 5 years

Income
$57,367 → $69,068
up 20.4%
Population
27,570 → 27,626
up 0.2%
Renter share
34.5% → 31.2%
-3.3 pts
Bachelor's+
19.1% → 20.9%
+1.8 pts

Census figures show median household income at $69,068 today, compared with $57,367 five years earlier. About 31.2% of households rent today, against 34.5% in 2021.

Community

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

Can you afford rent in Marshalltown on your salary?

At $978/mo, how Marshalltown rent compares to typical pay (30% rule).

By apartment size

Marshalltown rent by bedroom count

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

Local insights

Tips for renters in Marshalltown

About renting in Marshalltown, IA

Last updated: August 17, 2026

The median rent in Marshalltown is $978/mo as of August 2026. A studio apartment averages $700/mo while a 2-bedroom runs $950/mo. One-bedroom apartments average $730/mo and 3-bedroom units go for $1,250/mo.

At 17% of local median household income ($69,068/yr), Marshalltown ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Marshalltown an affordable city for renters?

Marshalltown is considered very affordable for renters. At $978/mo, rent takes approximately 17% of the local median household income ($69,068/yr). The standard benchmark is 30%. Marshalltown falls comfortably within that range.

How much income do you need to rent in Marshalltown?

To keep rent at or below 30% of gross income, you would need to earn at least $39,000/year (~$19/hour full-time) to afford the median rent of $978/mo in Marshalltown. The local median household income is $69,068/yr, meaning the typical Marshalltown household meets that threshold.

Is rent going up or down in Marshalltown?

Rent in Marshalltown has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Marshalltown rent compare to other cities in Iowa?

Marshalltown is one of the more affordable cities in Iowa for rent, ranking #27 out of 33 tracked cities at $978/mo.

Which nearby cities are cheaper to rent in than Marshalltown?

Waterloo is nearby and more affordable at $948/mo, which is $30 less than Marshalltown.

What percentage of Marshalltown residents rent vs. own?

According to Census data, approximately 31.2% of Marshalltown households are renters, while 68.8% are owner-occupied. Marshalltown leans toward homeownership, which can mean a smaller rental inventory.

How does Marshalltown rent compare to the national average?

Marshalltown's median rent of $978/mo is $984 (50%) below the US national median of $1,962/mo. Within Iowa, it ranks #27 out of 33 tracked cities.
Income Affordability
17%
VERY AFFORDABLE

At $978/mo, rent takes ~17% of Marshalltown's median household income ($69,068/yr). The standard benchmark is 30%.

Marshalltown 17%Benchmark 30%
State income tax3.8%
Run the Marshalltown affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Marshalltown, IA

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