Quick facts: Essex, IA

Quick Facts

96.6
Cost of Living
below US average
729
Population
6.86
Crime Rate per 1000
below US average
$54,265
Median Income
below US average
$385,000
Median House Price
above US average
$1132
Average Rent
below US average
9%
Poverty Rate
below US average
3.2%
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 $54,265.

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Income Needed to Buy

βœ— Stretch
$121k/year
Based on $385,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $121k vs median $54,265
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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 ($54,265) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Essex, IA

Essex is a small city located in Page County, Iowa. With a population of approximately 600 residents, Essex embodies a tight-knit community atmosphere. Founded in the late 19th century, it has a rich history reflected in its charming local architecture and the surrounding countryside. The city's economy primarily centers around agriculture, contributing to the rural character of the area. Essex features various parks and recreational areas where residents and visitors can enjoy outdoor activities. The city is known for its annual events and community gatherings that foster a strong sense of local pride. Essex is conveniently situated near larger towns like Shenandoah and Clarinda, which provide additional amenities and services. The area is characterized by rolling hills, farmland, and picturesque landscapes, making it an appealing location for those seeking a peaceful rural lifestyle. Overall, Essex offers a glimpse into small-town life in Iowa with its welcoming community and rich agricultural heritage.

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