Cedar Falls, Iowa Income Statistics
Cedar Falls Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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C
Cedar Falls Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Cedar Falls | Iowa Avg | US Average |
|---|---|---|---|
| Median Household Income | $72,891 | $75,133 | $80,455 |
| Median Personal Income | $60,835 | $57,332 | $60,758 |
| Average Yearly Income Growth | 3.0% | 4.0% | 4.8% |
| Six-Figure Earners | 10.5% | 10.5% | 13.9% |
| $200k+ Households | 7.8% | 8.6% | 13.2% |
The median household income in Cedar Falls is about 3% lower than in Iowa. Income has been growing slower in Cedar Falls (3.0%/yr) than in Iowa (4.0%/yr).
About 11% of adults in Cedar Falls earn six figures ($100,000 or more) a year, about the same as the Iowa average of 11%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Cedar Falls, Iowa grew by 58.9% from 2009 to 2024, reaching $72,891 in 2024. That's an average of about 3.0% per year.
Income Inequality and the Gender Pay Gap in Cedar Falls
| Metric | Cedar Falls | Iowa Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.560 | 0.510 | 0.552 |
| Male Median Income | $72,196 | $66,524 | $69,667 |
| Female Median Income | $56,194 | $52,524 | $56,850 |
| Gender Pay Gap | 22.2% | 21.0% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Cedar Falls, it is 0.560, higher than Iowa's 0.510, so income is less evenly distributed here than there, and higher than the US's 0.552, so income is less evenly distributed here than there.
Men's income is about 28% more than women's income in Cedar Falls, Iowa. Over a 35-year career, a 28% wage gap accumulates to roughly $560,070 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Cedar Falls, Iowa has narrowed from about 30% to 22% in 2024. Over that period the gap was widest at 32% in 2010, and was narrowest at 15% in 2022. In dollar terms, the gap has widened by $2,193 since 2009.
Employment
| Metric | Cedar Falls | Iowa Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.6% | 3.6% | 5.2% |
| Working from Home | 10.3% | 11.3% | 15.0% |
| Commute time (minutes) | 12 | 16 | 22 |
Approximately 717 people are unemployed in Cedar Falls, Iowa.
The average commute time in Cedar Falls is 12 minutes, shorter than the 16 minutes in Iowa.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Cedar Falls, Iowa has fallen from 6.9% to 3.6% in 2024. Over that period the rate peaked at 7.9% in 2013 and fell as low as 3.2% in 2019.
Cedar Falls, IA Wealth Compared With Nearby Cities
How Cedar Falls, IA compares with the 1 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Cedar Falls, IA | 33,959 | $72,891 #1/2 | 3.0%/yr #2/2 | 3.6% #1/2 | 0.560 #2/2 |
| Waterloo, IA | 64,027 | $57,402 | 3.3%/yr | 5.3% | 0.486 |
Conclusion
Considering all these factors, Cedar Falls, Iowa has an overall wealth index grade of C, making it about on par with Iowa, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Cedar Falls, Iowa.
How Rich Is Cedar Falls, Iowa?
Cedar Falls has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $72,891, about 3% lower than the Iowa average of $75,133.
How fast is household income rising in Cedar Falls, Iowa?
Between 2009 and 2024, the median household income in Cedar Falls, Iowa rose 59%, from $45,866 to $72,891. Over the same years, income here outpaced Iowa as a whole: +59% against +56%.
What was the median household income in Cedar Falls in 2023?
In 2023, the median household income in Cedar Falls, Iowa was $70,236, up 4% from $67,615 in 2022. The Iowa median that year was $73,347.
What was the median household income in Cedar Falls in 2020?
In 2020, the median household income in Cedar Falls, Iowa was $60,174. By 2024 it had risen 21% to $72,891.
What is the Gini coefficient in Cedar Falls, Iowa?
The Gini coefficient in Cedar Falls is 0.560. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.552, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Cedar Falls, Iowa?
Since 2009, the income gap between men and women in Cedar Falls, Iowa has narrowed from about 30% to 22% in 2024. Over that period the gap was widest at 32% in 2010, and was narrowest at 15% in 2022. In dollar terms, the gap has widened by $2,193 since 2009.
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