GDP
Iowa’s economy produced about $253 billion in 2023, anchored by agriculture, food processing, insurance and wind energy.
Real GDP (chained 2017 dollars)
1997–2025BEA, chained 2017 dollars (FRED IARGSP).
| Indicator | Iowa | U.S. |
|---|---|---|
| GDP (USD B) | 253 | 29200 |
- •Iowa is the top U.S. producer of corn, pork and eggs.
- •Iowa leads the nation in ethanol production.
GDP Growth
Iowa's real GDP grew 2.1% in 2023, compared to 2.5% nationally.
Real GDP growth
1998–2025Annual % change in BEA real GDP (IARGSP).
| Indicator | Iowa | U.S. |
|---|---|---|
| GDP Growth Rate | 2.1 | 2.5 |
- •Iowa's GDP growth reflects performance in agriculture and food processing, a key state industry.
Personal Income
Iowa's median household income was $71,433 in 2023, according to Census ACS data.
Per capita personal income
1970–2025BEA, current dollars (FRED IAPCPI).
| Indicator | Iowa | U.S. |
|---|---|---|
| Median Household Income | 71433 | 77719 |
- •Personal income growth in Iowa is closely tied to trends in agriculture and food processing.
Median Household Income
Median household income in Iowa is about $70,571, near the national middle, with living costs about 10% below average.
Median household income (CPS)
1984–2025Census CPS ASEC, current dollars (FRED MEHOINUSIAA646N).
| Indicator | Iowa | U.S. |
|---|---|---|
| Median household income (USD) | 70571 | 78538 |
Poverty Rate
Iowa's poverty rate was 11.0% in 2023, compared to 12.5% nationally.
Poverty rate, all ages (SAIPE)
1989–2024Census Small Area Income and Poverty Estimates (FRED PPAAIA19000A156NCEN).
| Indicator | Iowa | U.S. |
|---|---|---|
| Poverty Rate | 11 | 12.5 |
- •Poverty rates in Iowa vary significantly between urban and rural counties.
Inflation
Midwest consumer prices covering Iowa rose about 2.6% year over year.
CPI inflation, Midwest region
2007–2025BLS CPI-U all items, Midwest region, annual average change (CUUR0200SA0).
CPI inflation, U.S.
2007–2024BLS CPI-U U.S. city average, annual average change (CPIAUCNS).
| Indicator | Iowa | U.S. |
|---|---|---|
| Inflation (%) | 2.6 | 2.9 |
Economic Output
Iowa's economy produced approximately $235.6 billion in real GDP in 2023, according to the BEA.
Nominal GDP (current dollars)
1997–2025BEA, current dollars (FRED IANGSP).
- •Agriculture and food processing is one of the largest contributors to Iowa's state economy.
Industry Breakdown
Agriculture and food processing represents the largest sector of Iowa's $235.6 billion economy.
Government jobs
1990–2025BLS Current Employment Statistics, annual average (FRED IAGOVT).
Manufacturing jobs
1990–2025BLS Current Employment Statistics, annual average (FRED IAMFG).
Construction jobs
1990–2025BLS Current Employment Statistics, annual average (FRED IACONS).
- •Iowa has developed a distinct industrial specialization in agriculture and food processing relative to neighboring states.