Quick facts: Grinnell, IA

Quick Facts

96.6
Cost of Living
below US average
9,493
Population
27.49
Crime Rate per 1000
above US average
$57,813
Median Income
below US average
$239,900
Median House Price
above US average
$1089.0
Average Rent
below US average
10%
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 $57,813.

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Income Needed to Buy

βœ— Stretch
$75k/year
Based on $239,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $75k vs median $57,813
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Income Needed to Rent

βœ“ Affordable
$47k/year
Based on $1089.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($57,813) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Grinnell, IA

Grinnell, Iowa, is a small, charming college town located in Poweshiek County. With a population of around 9,000 residents, it is well-known for its vibrant community, rich history, and cultural amenities. The town is perhaps most famous for being home to Grinnell College, a prestigious liberal arts college that significantly contributes to the town’s lively atmosphere and diversity. Grinnell boasts a welcoming downtown area with a variety of local shops, restaurants, and cafes, offering a taste of local cuisine and culture. The town is also recognized for its beautiful parks, recreational facilities, and community events that foster engagement among residents. Notable locations include the Grinnell Historical Museum and the surrounding natural beauty, which provides opportunities for outdoor activities such as hiking and biking on scenic trails. The city emphasizes education, community involvement, and sustainability, making it an attractive place for families and individuals. Grinnell's strong sense of community and commitment to progress make it a unique and pleasant place to live or visit in the heart of Iowa.

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