There is a total of about 5,681 properties with foreclosure filings, a rise in foreclosures from the previous year. That works out to a rate of one filing for every 234 households, which is well below the United States average of 45, and is a little less than one half of one percent of the state's housing units. Iowa is both a Judicial and Non-Judicial state with the foreclosure process lasting 150 days and a Right of Redemption of 20-265 days.
Iowa is the 30th largest U.S. state by population, with 3,007,856 people, and the 26th largest state by area, with 56,272 square miles. The median household income of Iowa is about $48,980. The gross domestic product is about $124 billion, and the gross state product is about $113.5 billion. The per capita income for the state is around $23,340.
While Iowa has been called the "buckle" of the "Corn Belt," the state actually generates a relatively small portion of its economy from agriculture. Instead, the largest economic sector is manufacturing. Cases in point: Iowa is home to ConAgra, Heinz, Wonder Bread, General Mills, 3M, and John Deere among many others. Although agriculture contributes only about 4 percent of the economy, the state still hosts some of the world's largest agribusinesses, including Monsanto and ADM.