Iowa is a fascinating state with a rich history and vibrant culture. However, the performance of different towns and counties across the country varies.

Fayette, a small town with about 1,300 people in Fayette County, has been identified as the poorest town in Iowa, as per a recent study conducted by the financial news website 24/7 Wall St.

How Did You Determine the Cheapest Town?

In their study, 24/7 Wall St. utilized data from the American Community Survey of the US Census Bureau for the years 2017 through 2019.

The website organizes the median household income of each town in each state. The town’s middle-income level is represented by the median household income. 

The website also examined other factors such as poverty rates, unemployment rates, access to education, and health insurance coverage.

In Fayette, the median family income was $32,500, which was significantly lower than the state’s median income of $68,718. 

That’s a significantly higher population in Fayette compared to the entire state, with a percentage of 29.4%.

Across the entire state, the unemployment rate stood at 3.1%. However, in Fayette County, the rate was higher at 6.1%. 

In Fayette County, the percentage of individuals with a bachelor’s degree or higher is 16.9%, which is lower compared to the state average of 30.5%. 

In Fayette, 8.8% of the local population did not have health insurance, compared to 4.7% of residents in the state.

Challenges and Hope: Fayette’s Story

Fayette faces a multitude of challenges, including high poverty rates, low income levels, limited job opportunities, and poor health conditions. 

The town is located in a rural area, which means that it may not have the same range of services, facilities, and infrastructure as larger cities.

Upper Iowa University is located in the town. The school has a significant number of students, including those from out of state or online. 

The university has a significant impact on both the town’s population and the school itself.

However, Fayette is a town that still holds hope and potential. The town has a rich history dating back to the 1800s, when it played a vital role in the cotton and railroad industries. 

The Volga River State Recreation Area, the Fayette Opera House, and the Fayette County Courthouse are among the notable buildings and historic sites in the town.

In the town, there is a vibrant community that hosts a variety of events, fairs, and activities throughout the year. 

The town is actively working to attract new businesses to its center area and enhance the quality of life for all residents.

Fayette, Iowa: A Profile of Challenges and Opportunities

Fayette has the highest poverty rate, jobless rate, lowest level of schooling, and lowest number of people with health insurance among all towns in Iowa. 

The data reveals the significant issues and influences impacting the local economy. Additionally, it highlights the town’s potential and positive attributes.

The numbers also highlight the contrast between the town’s figures and the state’s benchmarks. 

Individuals and officials can utilize this information to gain a deeper understanding of Fayette and similar locations in Iowa, including the challenges they face and the opportunities they hold.

Read also: 5 Arizona Cities Experiencing Significant Outmigration