Key Economic Benchmarks
Median Household Income
$69,685$5,807 per month · U.S. Census Bureau ACS 5-YearFair market rent & 30% rule in Story County, IA
Official HUD Fair Market Rents evaluated against local household income benchmarks.
2026 HUD Fair Market Rent Schedule: Story County, IA
Official FY2026 HUD Fair Market Rents for Ames, IA HUD Metro FMR Area. Under the federal 30% housing affordability standard, housing costs are sustainable when they consume 30% or less of gross household income.
| Unit Size | Monthly Rent | Annual Rent | 30% Rule Min. Income | % of Median Income |
|---|---|---|---|---|
| Studio / Efficiency | $972 | $11,664 | $38,880 | 16.7% |
| 1-Bedroom Apartment | $1,026 | $12,312 | $41,040 | 17.7% |
| 2-Bedroom ApartmentBenchmark | $1,153 | $13,836 | $46,120 | 19.9% |
| 3-Bedroom Home | $1,601 | $19,212 | $64,040 | 27.6% |
| 4-Bedroom Home | $1,934 | $23,208 | $77,360 | 33.3% |
50/30/20 Living Budget in Story County, IA
Based on the local median household income of $69,685/year ($5,807/month), here is how a balanced budget allocates expenses:
Take-Home Pay & Tax Explorer in Iowa
Explore net income after federal income tax, FICA, and Iowa state income tax based on the local median baseline.
Related Regional & Financial Profiles
Compare earnings and living costs across Iowa with official federal datasets:
Frequently Asked Questions About Living in Story County, IA
What is the median household income in Story County, IA?
According to the latest U.S. Census Bureau ACS 5-Year survey, the median household income in Story County, IA is $69,685 per year (approximately $5,807 per month).
What is the average rent in Story County, IA?
According to HUD Fair Market Rent (FMR) benchmarks for 2026, standard monthly rents in Story County, IA are $972 for a studio, $1,026 for 1 bedroom, $1,153 for 2 bedrooms, $1,601 for 3 bedrooms, and $1,934 for 4 bedrooms.
How does the cost of living in Story County, IA compare to the national average?
Based on the Bureau of Economic Analysis (BEA) Regional Price Parity index, the general price level in Story County, IA is 88.8 (11.2% lower than the U.S. national baseline of 100.0).
How much do you need to earn to comfortably afford rent in Story County, IA?
Under the standard 30% housing affordability standard, renting a median 2-bedroom home ($1,153/month) in Story County, IA requires a minimum gross household income of $46,120 per year ($3,843 per month).
What is a balanced 50/30/20 monthly budget in Story County, IA?
For a typical household earning the median income of $69,685/year ($5,807/month) in Story County, IA, a balanced 50/30/20 budget allocates $2,904/month to essential needs (rent, utilities, groceries), $1,742/month to discretionary spending, and $1,161/month to savings and debt repayment.
What are typical electricity and utility costs in Story County, IA?
Residential electricity rates in Iowa average 15.9¢ per kWh according to the U.S. Energy Information Administration (EIA). For an average home using 900 kWh per month, the estimated electric bill is approximately $143 per month.