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Affordable
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These days, finding an affordable place to live in the Elma area can be challenging. Home prices in Elma are now at a median cost of $174,377, lower than the Iowa average of $226,062.
The average cost of rent is $691/mo in Elma, primarily driven by the current value of real estate in the Elma area. In Elma, 26.60% of households rent, and 60.36% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Elma is $5,687 per month. Households that rent pay about 12.15% of their income on rent here. Elma’s most expensive areas are in the central regions, while the cheapest areas are in the northern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Alta Vista, IA: higher priced homes
- Lourdes, IA: less expensive homes
- Saratoga, IA: less expensive homes
- Riceville, IA: equally priced homes
- Jerico, IA: higher priced homes
- New Haven, IA: equally priced homes
- North Washington, IA: higher priced homes
- Schley, IA: equally priced homes
- Colwell, IA: less expensive homes
- Saude, IA: higher priced homes
Cities with Similar Populations
- Rock Creek, WV: less expensive homes
- Martins Additions, MD: higher priced homes
- Massee, GA: equally priced homes
- Mc Donough, NY: less expensive homes
- McNeil, AR: less expensive homes
- Plattin, MO: higher priced homes
- Pond Creek, OK: less expensive homes
- Port O'Connor, TX: higher priced homes
- Richelieu, KY: higher priced homes
- Riderville, TX: higher priced homes
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