Quick facts: Cresco, IA

Quick Facts

96.6
Cost of Living
below US average
3,940
Population
5.33
Crime Rate per 1000
below US average
$60,135
Median Income
below US average
$279,900
Median House Price
above US average
$1132
Average Rent
below US average
9%
Poverty Rate
below US average
3.5%
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 $60,135.

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Income Needed to Buy

βœ— Stretch
$88k/year
Based on $279,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $88k vs median $60,135
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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 ($60,135) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Cresco, IA

Cresco is a charming city located in Howard County, Iowa. Known as the "Pride of the Valley," it sits amidst the scenic bluffs and rich agricultural lands of northeastern Iowa. With a population of approximately 3,800 residents, Cresco thrives on a tight-knit community spirit and a rich history, dating back to its founding in 1856. The city serves as a regional hub for commerce, with various local shops, restaurants, and services catering to residents and visitors alike. Outdoor enthusiasts can enjoy recreational activities in nearby parks and the beautiful surrounding countryside, particularly the scenic trails and rivers. Cresco is also notable for its cultural heritage, hosting annual events such as the Cresco Butter Festival, which celebrates the city’s history and community spirit with parades, contests, and live entertainment. Education is prioritized in Cresco, with a strong public school system and easy access to higher education institutions nearby. Overall, Cresco offers a blend of small-town charm, community involvement, and a commitment to preserving its rich heritage while embracing growth and progress.

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