$550 Per Month
- 1 Bed
- 1 Bath
- Condo for Rent
206 E Hammond St Unit 4, Red Oak, IA 51566
1 bdrm 1 bath apt Central Air Deposit required
Frequently Asked Questions
How much does it cost to rent a condo in Red Oak, IA?
The median rent for a condo in Red Oak, IA is $663 per month, though prices vary by neighborhood, size, and property type. As of September 2026, condos tend to be the most affordable option.
How much do you need to make to afford rent in Red Oak, IA?
To comfortably afford the median rent in Red Oak, IA, a household needs to earn roughly $26,480 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $662 per month in Red Oak, IA, renters typically need to show $1,986 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Red Oak, IA?
In Red Oak, IA, the price-to-rent ratio is 18.1, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
