Quick facts: Birmingham, IA

Quick Facts

96.6
Cost of Living
below US average
373
Population
42.9
Crime Rate per 1000
above US average
$58,750
Median Income
below US average
$237,500
Median House Price
above US average
$1132
Average Rent
below US average
9%
Poverty Rate
below US average
2.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $58,750.

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Income Needed to Buy

βœ— Stretch
$75k/year
Based on $237,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $75k vs median $58,750
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Income Needed to Rent

βœ“ Affordable
$49k/year
Based on $1132/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($58,750) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Birmingham, IA

Birmingham is a small, charming town located in Van Buren County, Iowa. With a population of around 1,000 residents, it embodies a close-knit community atmosphere. The town is situated in a picturesque rural landscape, characterized by rolling hills and lush farmland, making it an ideal spot for those who appreciate the tranquility of country living. One of the highlights of Birmingham is its historical significance, with many buildings reflecting the rich heritage of the area. The town is surrounded by opportunities for outdoor activities, including hiking, fishing, and exploring the scenic countryside. Birmingham also hosts local events and activities that foster community spirit, making it a welcoming place for both residents and visitors. While it may be small, the community prides itself on its friendly environment and the beauty of rural Iowa living, making it a unique destination for those seeking a peaceful lifestyle away from the hustle and bustle of bigger cities. Overall, Birmingham offers a blend of history, community, and natural beauty.

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