FHA Loans in Iowa
About This State and its People, Places, and Industries
Iowa is a state located in the Midwestern United States, an area often referred to as the "American Heartland." It derives its name from the Ioway people, one of the many American Indian tribes that occupied the state at the time of European exploration. Iowa was a part of the French colony of New France. After the Louisiana Purchase, settlers laid the foundation for an agriculture-based economy in the heart of the Corn Belt. Iowa is often known as the "Food Capital of the World", however Iowa's economy, culture, and landscape are diverse. In the mid and late 20th century, Iowa's agricultural economy transitioned to a diversified economy of advanced manufacturing, processing, financial services, biotechnology, and green energy production. Iowa has been listed as one of the safest states in which to live. Des Moines is Iowa's capital and largest city.As of 2008, Iowa has an estimated population of 3,002,555, which is an increase of about 19,000 people or 0.6%, from the prior year and an increase of 76,000 or 2.6%, since the year 2000. This is the first time the state has topped the three million mark in population. Iowa is the 30th most populated state in the country. In 2007, the latest demographic information available shows that the state had a natural increase of 53,706 people in population from the last census (that is 197,163 births minus 143,457 deaths) and a decrease of 11,754 due to net migration of people out of the state.
Immigration from outside the United States resulted in a net increase of 29,386 people, while migration within the country produced a net loss of 41,140 people. 6.1% of Iowa's population was reported as under the age of five, 22.6% under 18, and 14.7% were 65 or older. Males made up approximately 49.2% of the population. The population density of the state is 52.7 people per square mile. The center of population of Iowa is located in Marshall County, in the city of Marshalltown.
While Iowa is often viewed as a farming state, in reality agriculture is a small portion of a diversified economy, with manufacturing, biotechnology, finance and insurance services, and government services contributing substantially to Iowa's economy. This economic diversity has helped Iowa weather the late 2000s recession better than most states, with unemployment substantially lower than the rest of the nation.
If the economy is measured by gross domestic product, in 2005 Iowa's GDP was about US $124 billion. If measured by gross state product, for 2005 it was US $113.5 billion. Its per capita income for 2006 was US $23,340.
On July 2, 2009, Standard and Poor's rated the state of Iowa's credit as AAA (the highest of its credit ratings, held by only 11 U.S. state governments). As of January 2010, the state’s unemployment rate is 6.6%.
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