Allamakee County, IA personal loans: what the local numbers say

Population and place: Allamakee County

The latest five-year Census estimate puts Allamakee County's population at 14,092; only 56 of Iowa's 99 county-level areas are larger. Spread over 639 square miles, that works out to roughly 22.1 residents per square mile. Metro status: none; Allamakee County sits outside the 2023 OMB metro areas. The Census Bureau counts 6 places in the county (6 incorporated, 0 census-designated); the largest is Waukon, with about 3,792 residents, or 27% of the county.

Employment and commuting in Allamakee County

Top Allamakee County industry by residents employed: education and health care, 25%; second, retail trade, 13%. The sharpest difference from the state is in agriculture, forestry and mining, at 13% locally and 4% for Iowa. Averaged over the five survey years, 2.5% of the labor force was out of work and looking. 14% of commuters travel 45 minutes or more each way, and 7% work from home. Only 3.7% of homes here go without a vehicle.

Seasonal work is common in many Allamakee County industries; if that is you, show a full year of income rather than one strong month.

Where Allamakee County households live

Half of Allamakee County renters pay more than $796 a month and half pay less; the Iowa midpoint is $972. About 4 in 10 Allamakee County renters pay 30% or more of income for rent. The median owner-occupied home is valued at $172,300, about 2.4 times the median household income. In Allamakee County, 80% of occupied homes are owned by the people living in them. The median home was built in 1972, so roofs, wiring and heating systems are a common source of repair bills. Nationally, Allamakee County's $796 rent is 9% below the middle county.

Because most Allamakee County households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral.

Income in Allamakee County compared with Iowa

The median household income in Allamakee County is $70,694; statewide it is $75,059, so Allamakee County runs 6% below Iowa as a whole.

23% under $35,000 and 30% at $100,000 or more: that is the Allamakee County income split. 10.1% of residents fall below the federal poverty line (statewide: 11.1%). Income inequality, measured by the Gini index, comes to 0.417 here. Income from any regular source can count, including Social Security, pensions and disability benefits, as long as you can document it.

Allamakee County's most unusual numbers

Ranked against the other 98 county-level areas in Iowa, these are the Allamakee County figures furthest from the middle.

• Allamakee County ranks the highest of 99 Iowa counties for the share of mobile homes: 13.8%, against 3.2% statewide. Manufactured homes often do not qualify for home equity loans, so unsecured loans fill the gap.
• Few Iowa counties match Allamakee County on the housing vacancy rate: 23% here, 8% for the state, ranking 3rd highest of 99. High vacancy often reflects seasonal or second homes.
• The uninsured rate: 7.0% in Allamakee County. Only 18 of 99 Iowa counties are higher. Ask any provider about financial assistance before borrowing for care.

Places inside Allamakee County

8,675 of Allamakee County's 14,092 residents live in its 6 Census places (62%); the 6 largest are listed. Gap between richest and poorest larger place: $16,140, Lansing over Postville. Rent is cheapest in Lansing ($579) and steepest in Postville ($861). No Allamakee County place has a separate guide yet; this county page serves all 6.

Counties near Allamakee County

Nearest neighbors first, measured between county centers (23 to 37 miles). Richest neighbor: Houston County, $79,825. Poorest: Fayette County, $60,165. Allamakee County: $70,694. The list crosses into Minnesota, Wisconsin, where different lending rules and regulators apply.

Before borrowing in Allamakee County

Allamakee County-specific points to check:

• Repairs on manufactured housing. With 14% of homes here, compare a personal loan with any dealer or park repair program.
• Consolidating cards in Allamakee County. Compare the total repaid, not the monthly figure (how).
• Paperwork. ID, proof of income and a bank account are the basics (requirements).

Debt-to-income at Allamakee County's medians

Allamakee County's $70,694 median income, run through a debt-to-income check:

• $70,694 a year is $5,891 of gross monthly income
• Housing at the median rent of $796 uses 14%
• Under a 43% cap, $2,533 total minus rent leaves $1,737

A household below the $70,694 median has less room than this, often none.

Who lives in Allamakee County, in numbers

College graduates make up 22% of the adult population. Uninsured, Allamakee County: 7.0%; Iowa: 5.0%.

Lender oversight for Allamakee County

Licensing happens at the state level, so a lender working with Allamakee County borrowers answers to the Iowa Division of Banking. The Consumer Financial Protection Bureau accepts complaints nationwide.

Before you sign

Four checks before you sign anything:

• Size the loan to the bill, not to the most a lender offers.
• Collect three written offers and compare APR and total repaid.
• Look the lender up with the state regulator first.
• Read the final agreement; it must match the offer.

More guides for Allamakee County

The Iowa guide covers the whole state.

• Iowa state guide