Living in Fayette, Iowa
Cost of living, income, home prices, rent and demographics of Fayette · Census data 2020–2024
Fayette has 1,309 residents with a median age of 23.4. The median household income is $47,917 (36% lower than the Iowa median), the median home value is $119,000, the median rent is $1,347/month.
Fayette is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Fayette at a glance
- Population
- 1,309
- Median age
- 23.4State: 38.6
- Median household income
- $47,917State: $75,059
- Median home value
- $119,000State: $208,000
- Median rent
- $1,347/moState: $972
- Homeowners
- 53.4%
- Bachelor's degree or higher
- 32.6%
- Average commute
- 15 min
Is Fayette a good place to live?
Pros: Home values 43% lower than the state median; an average commute of 15 minutes.
Cons: Median household income 36% lower than the Iowa median; unemployment of 5.4%; a poverty rate of 25.7%.
The weather is best in June to September.
Cost of living in Fayette
Housing is the biggest part of the cost of living. In Fayette the median home value is $119,000, 64% lower than the U.S. median. Renters pay a median of $1,347 per month, which is 51% of household income. Homeowners with a mortgage pay $1,296 a month in housing costs.
Fayette median household income
The median household income in Fayette is $47,917 and the income per person is $22,517. 25.7% of residents live below the poverty line (Iowa: 11.1%).
Housing in Fayette: homes for sale and rent
- Housing units
- 521
- Owner-occupied
- 53.4%
- Renter-occupied
- 46.6%
- Vacant
- 13.4%Includes seasonal homes
- Median year built
- 1951
- Average household size
- 2.05
Fayette demographics
- Population
- 1,309
- Median age
- 23.4
- Under 18
- 11.3%
- 65 and older
- 13.9%
- Households
- 451
- Foreign-born
- 10.5%
- Veterans
- 4%Adults 18+
Hispanic or Latino can be of any race. Population history of Fayette ›
Education in Fayette
32.6% of adults 25 and older in Fayette have a bachelor's degree or higher (Iowa: 31.4%), and 10.9% have a graduate or professional degree.
Jobs and commute in Fayette
- Unemployment rate
- 5.4%State: 3.6%
- Average commute
- 15 minState: 20 min
- Work from home
- 8.3%
- Drive alone
- 71.3%
- Public transit
- 1%
- Walk to work
- 9.2%
- Homes with broadband
- 92.2%
Fayette vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Fayette | 1,309 | $47,917 | $119,000 | $1,347 |
| Maynard | 471 | $55,583 | $132,100 | $629 |
| Wadena | 177 | $38,750 | $94,200 | $532 |
| West Union | 2,489 | $53,617 | $121,000 | $967 |
| Arlington | 427 | $38,958 | $112,000 | $560 |
| Hawkeye | 482 | $62,813 | $84,600 | $635 |
| Westgate | 178 | $53,750 | $78,300 | $1,036 |
| Elgin | 735 | $54,688 | $98,800 | $538 |
| Oelwein | 5,834 | $46,653 | $96,300 | $847 |
More for people moving to Fayette
Fayette ZIP code ›Weather and climate ›Living in Fayette: FAQ
What is the median household income in Fayette, IA?
The median household income in Fayette is $47,917, 36% lower than the Iowa median of $75,059 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Fayette?
The median home value in Fayette is $119,000, compared with $208,000 in Iowa.
How much is rent in Fayette?
The median gross rent in Fayette is $1,347 per month, about 51% of household income.
Is Fayette, IA a good place to live?
Pluses: home values 43% lower than the state median; an average commute of 15 minutes. Minuses: median household income 36% lower than the Iowa median; unemployment of 5.4%; a poverty rate of 25.7%.
What is the median age in Fayette?
The median age in Fayette is 23.4 years (Iowa: 38.6).
How long is the commute in Fayette?
The average commute to work in Fayette is 15 minutes; 8.3% of workers work from home.
What is the unemployment rate in Fayette?
The unemployment rate in Fayette is 5.4% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Fayette?
32.6% of adults in Fayette have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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