Quick facts: Sheldon, IA

Quick Facts

96.6
Cost of Living
below US average
5,465
Population
10.98
Crime Rate per 1000
below US average
$61,939
Median Income
below US average
$299,000
Median House Price
above US average
$750.0
Average Rent
below US average
7%
Poverty Rate
below US average
2.2%
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 $61,939.

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Income Needed to Buy

βœ— Stretch
$94k/year
Based on $299,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $94k vs median $61,939
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Income Needed to Rent

βœ“ Affordable
$32k/year
Based on $750.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($61,939) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Sheldon, IA

Sheldon is a charming city located in O'Brien County in the northwest region of Iowa. With a population of around 5,000 residents, it boasts a friendly, tight-knit community atmosphere. The city is known for its agricultural roots, offering a glimpse into rural life while maintaining modern conveniences. Sheldon has several parks and recreational facilities, making it an ideal spot for families and outdoor enthusiasts. The city hosts various local events, including a popular summer festival and farmers' markets, promoting local produce and crafts. Education is a priority here, with schools that aim to foster the growth and development of children in the community. In addition to its agricultural economy, Sheldon's strategic location along U.S. Highway 18 and proximity to the Iowa-Minnesota border provides easy access to surrounding areas. The city is also close to several larger towns, allowing residents to enjoy a more urban experience while returning to the tranquility of small-town life. Overall, Sheldon combines rich traditions with the benefits of modern living, making it a delightful place to reside or visit.

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