1st Advantage MortgageClay County households have a median income of $65,428 and median rent of $811 a month (ACS 2020 to 2024). Those figures describe the county, not you: compare at least three written offers by APR and total cost, and confirm the lender's license before you apply.
On this page
- A quick profile of Clay County
- Paychecks and income spread in Clay County
- Employment and commuting in Clay County
- Housing costs in Clay County
- The counties around Clay County
- Places inside Clay County
- Debt-to-income at Clay County's medians
- Who lives in Clay County, in numbers
- Local borrowing considerations for Clay County
- Licensing and complaints for Clay County
- Checklist for Clay County applicants
- Related local guides
- Frequently asked questions
A quick profile of Clay County
Clay County is home to about 16,461 people, according to the Census Bureau's 2020 to 2024 American Community Survey, which makes it the 46th most populous of 99 county-level areas in Iowa. It covers 567 square miles of land, or about 29 people per square mile. It sits outside every metropolitan statistical area in the July 2023 OMB delineation. Spencer is the biggest of its 10 Census places, at roughly 11,400 people (69% of the county total).
Paychecks and income spread in Clay County
At $65,428, the typical Clay County household income sits near the median U.S. county ($65,681). In the state ranking that is 76th of 99.
| Income band | Share in Clay County | Difference from Iowa |
|---|---|---|
| Under $35,000 | 22.8% | +1.7 pts |
| $35,000 to $99,999 | 46.7% | +3.8 pts |
| $100,000 to $199,999 | 24.5% | -3.0 pts |
| $200,000 or more | 6.0% | -2.6 pts |
Some 23% of households here live on less than $35,000 a year; 31% have six-figure incomes. Census counts 11.4% of Clay County residents in poverty, against 11.1% across Iowa. Income inequality, measured by the Gini index, comes to 0.417 here. For a borrower in Clay County, the county median is only context: a lender looks at the income you can document, so pay stubs, benefit letters or tax returns matter more than any average.
Employment and commuting in Clay County
Education and health care employs 27% of working residents, the largest share; retail trade is next with 13%. The sharpest difference from the state is in agriculture, forestry and mining, at 6% locally and 4% for Iowa. ACS puts five-year average unemployment at 3.5% in Clay County. About 81% drive to work alone and 8% have trips of 45 minutes or more. 5.5% of households have no vehicle.
| Top industries | Clay County share | +/- vs Iowa |
|---|---|---|
| Education and health care | 26.8% | +2.6 pts |
| Retail trade | 13.4% | +1.9 pts |
| Manufacturing | 12.0% | -2.7 pts |
| Arts, lodging and food service | 8.4% | +1.4 pts |
| Professional and administrative services | 7.8% | +0.2 pts |
| Construction | 7.0% | 0.0 pts |
A lender verifies what your own job pays. The county's industry mix tells you about the local economy, not about your application.
Housing costs in Clay County
Median gross rent, utilities included, comes to $811 in Clay County versus $972 statewide. By the Census definition, 36% of Clay County renters are cost-burdened. With a median value of $178,600, a typical Clay County house costs 2.7 times what the median household earns in a year. 73% of Clay County households own their home and 27% rent.
| Housing | Clay County | Iowa statewide | Typical U.S. county |
|---|---|---|---|
| Median gross rent | $811/mo | $972/mo | $877/mo |
| Median home value | $178,600 | $208,000 | $185,300 |
| Owners | 73% | 72% | 75% |
| Rent-burdened renters | 36% | 44% | 45% |
| Burdened owners | 23% | 20% | n/a |
| Mobile homes | 1.9% | 3.2% | n/a |
Because most Clay 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.
The counties around Clay County
Six nearby counties, 21 to 32 miles away by the straight-line distance between their centers. Income ranges from $63,730 in Emmet County to $75,432 in Dickinson County; 5 of these neighbors top Clay County's median.
| County | Miles | Median household income | Median rent | Homeownership |
|---|---|---|---|---|
| Clay County | - | $65,428 | $811/mo | 73% |
| Dickinson County, IA | 21 mi | $75,432 | $922/mo | 77% |
| Buena Vista County, IA | 23 mi | $71,719 | $894/mo | 73% |
| O'Brien County, IA | 24 mi | $68,356 | $868/mo | 76% |
| Palo Alto County, IA | 24 mi | $72,781 | $638/mo | 77% |
| Emmet County, IA | 32 mi | $63,730 | $733/mo | 79% |
| Osceola County, IA | 32 mi | $69,239 | $797/mo | 78% |
Places inside Clay County
The table lists the 10 largest of 10 Census places in Clay County, by population. Together all 10 hold about 13,471 people, so roughly 18% of residents live outside any named place. Among places of 500 or more people, median income runs from $56,893 in Royal to $59,667 in Spencer. Median rent ranges from $713 in Everly to $895 in Royal. No Clay County place has a separate guide yet; this county page serves all 10.
| Town or CDP | Type | People | Median household income | Median gross rent | Miles from center |
|---|---|---|---|---|---|
| Spencer | city | 11,400 | $59,667 | $805 | 5 mi |
| Royal | city | 585 | $56,893 | $895 | 7 mi |
| Everly | city | 584 | $57,656 | $713 | 10 mi |
| Peterson | city | 298 | $73,333 | $983 | 15 mi |
| Fostoria | city | 181 | $81,250 | $769 | 11 mi |
| Dickens | city | 131 | $71,250 | n/a | 7 mi |
| Webb | city | 102 | $55,000 | $681 | 11 mi |
| Rossie | city | 88 | n/a | $775 | 5 mi |
| Greenville | city | 62 | $44,531 | n/a | 4 mi |
| Gillett Grove | city | 40 | n/a | n/a | 7 mi |
Debt-to-income at Clay County's medians
How much room does a median Clay County budget have? Take median income, subtract median rent, and check what is left under a few common debt-to-income limits.
- $5,452 a month: gross income for a household at the Clay County median
- Median rent: $811, or 15 cents of every gross dollar
- Under a 35% cap, $1,908 total minus rent leaves $1,097
- $1,643: what a 45% ratio leaves once rent is paid
If your rent is above $811, the room shrinks dollar for dollar.
Who lives in Clay County, in numbers
Degree holders: 28% of adults over 25. About 6% go without health insurance.
| Measure | Clay County | Iowa statewide | Typical U.S. county |
|---|---|---|---|
| Median age | 42.3 | 38.6 | 41.5 |
| Bachelor's or higher | 27.5% | 31.4% | 22.2% |
| No high school diploma | 6.7% | 6.7% | n/a |
| No health insurance | 5.5% | 5.0% | 7.8% |
| No vehicle | 5.5% | 5.4% | 5.4% |
| Work from home | 6.1% | 11.3% | 8.7% |
| Poverty rate | 11.4% | 11.1% | 13.2% |
| Unemployment (ACS) | 3.5% | 3.6% | 4.4% |
| Minutes to work | Clay County workers |
|---|---|
| Under 15 min | 60.2% |
| 15 to 29 min | 20.9% |
| 30 to 44 min | 10.8% |
| 45 to 59 min | 3.9% |
| 60+ min | 4.1% |
Local borrowing considerations for Clay County
Based on the Clay County data above, these borrowing questions are most likely to matter locally.
- Requirements. Lenders weigh credit history, documented income and existing debt (what to gather).
- Debt consolidation. One fixed payment can save money only if the written APR and fees beat what you pay now (guide).
- Scams. A fee demanded before funding is a red flag; report it at ReportFraud.ftc.gov (spotting scams).
Licensing and complaints for Clay County
The Iowa Division of Banking is the place to verify any lender's Iowa license. Banks and credit unions have their own regulators, and the CFPB takes complaints about any lender. Statewide data and rules: Iowa guide.
Checklist for Clay County applicants
Steps that save money for Clay County residents:
- Price the Clay County expense first and borrow that amount, no more.
- Ask each lender for the APR and all fees in writing.
- A Iowa license check takes minutes; do it first.
- Confirm the first due date before setting up autopay.
Related local guides
The Iowa guide covers the whole state.
Frequently asked questions
What does a typical Clay County household make?
About $65,428 a year at the median (ACS 2020-24), 13% below the Iowa median.
Is Clay County expensive for renters?
Median rent is $811 against $972 statewide, and 36% of renter households are cost-burdened.
I own my home in Clay County. Personal loan or HELOC?
A HELOC uses the house as collateral; a personal loan usually does not. With 73% of homes owner-occupied here, many readers can compare both in writing.
Does this page cover Spencer?
Yes, along with the other 9 Census places in Clay County, such as Royal, Everly, Peterson.
Is the fit check different in Clay County?
No. It is identical everywhere, and it never looks at your neighborhood.