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Peterson

Learn about the people, housing, costs and businesses in Peterson, Iowa

Median Home$150,800
Median Rent$827/month
Population335
Leading IndustriesFinance & Insurance · Information & Media · Education8% finance & insurance
Home Value Growth⬇⬇-13.2% over 2 years
Young Adults30% of residentsabove average nationally
Homeowners85% of occupied units
NotableAffordable Market$151k median home · lower cost than 74% of the country
Peterson
IA

Frequently Asked Questions

What are today's mortgage rates in Peterson?

As of today, the 30-year fixed mortgage rate for Peterson is approximately 6.873% (6.908% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Peterson?

The median home value in Peterson is $151k. The median monthly rent is $827. Annual property taxes average $1k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Peterson?

Home values in Peterson have decreased 13.2% over the past two years. Buyers may find more negotiating room in this market. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Peterson?

Based on a typical all-in ownership cost of $874/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $37k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Peterson is $73k/year.

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What industries drive the economy in Peterson?

The largest employment sectors in Peterson are public administration (21%) and healthcare (10%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.