With its rolling plains and beautiful cornfields, Iowa, the Hawkeye State, is a perfect place to call home. This Midwestern state boasts an affordable housing market with a population of just over three million. It is the 30th most populous state in the U.S. As well as being more affordable than other states, Iowa is regarded as one of the safest states to live in. Also, see FHA Loan in Iowa for details and requirements for a home in the state.
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Iowa is often regarded as a farming state, but the state’s economy is quite diverse. Residents can pursue careers in many sectors such as manufacturing, biotechnology, finance and insurance services, medical, and government services. According to CNBC’s “Top States for Business in 2010,” Iowa is regarded as the sixth best state in the nation, especially for the cost in doing business.
Despite not being one of the most populous states in the US, Iowa is a wealthy state. The median household income according to the 2018 Census was $58,580. Within Iowa, 4.2% of households are regarded as high-income households that make over $200,000 a year. In January 2020, the Bureau of Labor Statistics recorded the rate at 2.8%, far less than that national average of 3.7%.
Iowa’s income taxes range from 0.33% to 8.53% over nine brackets. The tax brackets remain the same regardless of marital or filing status. The statewide sales tax is 6% with some cities and municipalities allowed to collect a rate of up to 1% in city sales tax.
