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US State economic profile
Iowa - Economic Profile
Statistics, economic information and rankings for the Hawkeye State
In 2026, the state of Iowa has a population of 3,276,986, having grown an annualized 0.5% over the five years to 2026, which ranks it 31st out of all 50 US states by growth rate. Iowa's gross state product (GSP) in 2026 reached $208.7b, with growth of 0.6% over the 5 years to 2026. Businesses in Iowa employed a total of 1,717,982 people in 2026, with average annual employment growth over the past five years of 0.8%. The top three sectors by total employment are Manufacturing, Finance & Insurance, Real Estate & Rental & Leasing, while the unemployment rate across the state in 2026 was 3.8%.
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State economic profile
Iowa Economic Overview
$208.7b
Gross state product
3,276,986
Population
323,785
Businesses
What is Iowa's Gross Domestic Product (GDP)?
In 2026, Iowa's GDP reached $208.7b, representing an increase of 0.6% from 2025. Iowa's GDP has grown at an annualized rate of 0.9% over the five years to 2026. Moreover, Iowa's trailing five-year GDP growth ranks it 50th out of all 50 US states.
State GDP, or Gross State Product, is a measurement of a state's output, or the sum of value added from all industries in the state. It is a common indicator used to track the health of a state's economy.
You can track trends in Iowa's GDP, and compare them to the national average, using the chart below.
State economic profile
Iowa Industry Trends
Learn about current trends affecting the most significant industries for Iowa's state economy, down to the county level. IBISWorld offers state industry research reports on over 30,000 industries across all 50 states in the US, including 629 industries in Iowa.
What are Iowa's Largest Industries by Revenue?
The largest industries by revenue in Iowa are Life Insurance & Annuities, Farm Supplies Wholesaling and Property, Casualty and Direct Insurance, which generated $52.9b, $24.7b and $23.5b in 2026.
| Industry | 2026 revenue | |
|---|---|---|
| 1. | Life Insurance & Annuities | $52.9b |
| 2. | Farm Supplies Wholesaling | $24.7b |
| 3. | Property, Casualty and Direct Insurance | $23.5b |
| 4. | Commercial Banking | $20.7b |
| 5. | Meat, Beef & Poultry Processing | $19.6b |
| 6. | Corn, Wheat & Soybean Wholesaling | $19.4b |
| 7. | Hospitals | $14.8b |
| 8. | Margarine & Cooking Oil Processing | $13.7b |
| 9. | Organic Chemical Manufacturing | $13.2b |
| 10. | New Car Dealers | $13.0b |
State economic profile
Top Companies in Iowa
Learn about current trends affecting the top companies in Iowa. IBISWorld offers benchmarking data and tools on over 5,000 companies in the US.
Top 10 Companies Headquartered in Iowa by Employment
The largest companies by employment in Iowa are State of Iowa, Hy-Vee, Inc. and UnityPoint Health, which employed 72,000, 48,360 and 29,197 people in 2026.
| Company | 2026 employment | Share of employment | |
|---|---|---|---|
| 1. | State of Iowa | 72,000 | 4.2% |
| 2. | Hy-Vee, Inc. | 48,360 | 2.8% |
| 3. | UnityPoint Health | 29,197 | 1.7% |
| 4. | MercyOne | 23,000 | 1.3% |
| 5. | Walmart | 19,740 | 1.1% |
| 6. | Wells Fargo & Company/Mn | 13,750 | 0.8% |
| 7. | Raytheon Co. | 9,000 | 0.5% |
| 8. | Principal Financial Services, Inc. | 9,000 | 0.5% |
| 9. | University of Iowa | 6,310 | 0.4% |
| 10. | Deere & Co | 5,200 | 0.3% |
State economic profile
Iowa Sector Statistics
In Iowa, certain sectors drive a higher share of state GDP and employ more workers than others. However, simply looking at raw numbers doesn't always tell the whole story. Factoring in the current year growth percentage, in addition to the annualized growth percentage over the past five years, will give you a deeper understanding of the economic situation.
What is Iowa's GDP by Sector?
The Manufacturing, Finance & Insurance and Real Estate & Rental & Leasing sectors contributed the most to Iowa's GDP in 2026, representing a combined 43.3% of state GDP.
GDP trends by sector are an important indicator of which sectors are contributing the most value-add to the state economy, in addition to how the state economy is evolving over time.
| Sector | GDP | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Manufacturing | 35,718,438,843 | 0.7% | 0.6% |
| Finance & Insurance | 27,602,906,786 | -1.3% | -2.9% |
| Real Estate & Rental & Leasing | 19,855,279,524 | 1.4% | 1.5% |
| Healthcare & Social Assistance | 14,048,940,085 | 2.1% | 2.3% |
| Agriculture, Forestry, Fishing & Hunting | 13,196,550,610 | 6.9% | 3.8% |
| Retail Trade | 12,599,940,339 | 3.9% | 3.4% |
| Wholesale Trade | 10,886,766,187 | -0.3% | -0.7% |
| Professional, Scientific & Technical Services | 10,495,176,862 | 7.0% | 7.2% |
| Information | 8,271,186,100 | 8.9% | 8.9% |
| Construction | 6,992,956,711 | -2.8% | -3.4% |
| Transportation & Warehousing | 5,557,781,830 | -2.2% | -3.2% |
| Management of Companies and Enterprises | 5,516,078,519 | 9.8% | 10.4% |
| Administration, Business Support and Waste Management Services | 4,900,033,405 | 2.8% | 3.0% |
| Utilities | 4,598,278,720 | 7.8% | 7.5% |
| Accommodation & Food Services | 4,420,342,281 | 1.9% | 1.6% |
| Other Services (except Public Administration) | 3,362,849,122 | -2.5% | -2.2% |
| Arts, Entertainment & Recreation | 2,012,676,886 | 6.7% | 5.4% |
| Educational Services | 1,682,349,765 | 0.7% | 1.3% |
| Mining | 284,457,713 | -6.5% | -10.5% |
What is Iowa's Employment by Sector?
The Healthcare & Social Assistance, Retail Trade and Manufacturing sectors contributed the most to employment in Iowa in 2026, representing a combined 40.9% of state employment.
Employment trends by sector are an important indicator of which sectors are growing or contracting most rapidly relative to the state economy as a whole.
| Sector | Employment | Growth 2026 | Annualized growth 2021-26 |
|---|---|---|---|
| Healthcare & Social Assistance | 246,865 | 1.7% | 1.7% |
| Retail Trade | 231,799 | 0.7% | 1.3% |
| Manufacturing | 223,196 | 0.2% | 1.0% |
| Accommodation & Food Services | 123,133 | -0.1% | 2.7% |
| Administration, Business Support and Waste Management Services | 118,981 | 1.5% | 1.1% |
| Transportation & Warehousing | 116,875 | 2.9% | 2.1% |
| Finance & Insurance | 115,288 | 0.8% | 0.8% |
| Construction | 97,246 | 1.2% | 1.9% |
| Professional, Scientific & Technical Services | 97,108 | 2.1% | 2.5% |
| Educational Services | 91,891 | -0.4% | 0.3% |
| Wholesale Trade | 72,063 | 0.6% | 1.0% |
| Other Services (except Public Administration) | 65,265 | 0.8% | 2.0% |
| Real Estate & Rental & Leasing | 37,351 | 1.3% | 1.3% |
| Information | 36,905 | 2.6% | 3.6% |
| Arts, Entertainment & Recreation | 23,212 | 0.6% | 2.2% |
| Utilities | 11,391 | 1.5% | 1.1% |
| Agriculture, Forestry, Fishing & Hunting | 6,879 | 1.3% | 0.5% |
| Mining | 2,534 | 2.2% | 3.6% |
State economic profile
Iowa Employment Trends
1.7m
Employment
3.8%
Unemployment
What Employment Trends are Impacting Iowa?
The state of Iowa employs 1,717,982 people in 2026, which ranks it 32nd out of all 50 US states. Employment in Iowa has grown at an annualized rate of 1.5% over the five years to 2026, underperforming the national average of 1.7%. Major sectors by employment in Iowa include Healthcare & Social Assistance, Retail Trade and Manufacturing, which employed 246,865, 231,799 and 223,196 people in 2026, respectively. Iowa's unemployment rate is 3.8% in 2026, which ranks it 14th out of all 50 US states. Iowa's unemployment rate has trended downwards at a rate of -0.5% over the five years to 2026, overperforming the US economy as a whole.
Employment trends indicate the degree of tightness or slack in labor markets, in addition to the overall strength of an economy. Faster employment growth typically indicates a strong and growing economy, while lower unemployment tends to imply tightness in labor markets.
You can track unemployment trends in Iowa, and compare them to the US economy, using the chart below.
$172.4k
Per capita disposable income
What is Iowa's Per Capita Disposable Income?
Per capita disposable income, also known as disposable personal income (DPI), is the amount of money that the average person in an economy has available for spending and saving after accounting for income taxes. Iowa's DPI in 2026 was $172.4k, compared to the US average of $156.5k, which places it 3rd out of all 50 US states.
Disposable income is regarded as a key economic indicator as trends in disposable income are indicative of the level of aggregate demand, the state of labor markets and the financial strength of households.
You can track trends in Iowa's per capita disposable income, and compare it to the US average, using the chart below.
State economic profile
Iowa Construction & Building Trends
$6,670.7tn
Nonresidential construction
$4.4tn
Residential construction
15,215
Building permits
What can construction trends tell you about a state’s economy?
In Iowa, non-residential construction was $6,670.7tn in 2026, which ranks it 17th out of all 50 US states. Residential construction was $4.4tn in 2026, which places Iowa 44th out of all 50 US states. The number of building permits issued in Iowa in 2026 was 15,215, representing a 1.2% annualized growth rate between 2021 and 2026.
Trends in the construction sector are important because it creates jobs, income and tax revenue for a state. In addition, construction sector activity impacts other sectors in its supply chain, including manufacturing, wholesaling, warehousing, transportation, and real estate, rental and leasing services. Therefore, construction trends are important indicators of the health of an economy.
You can track trends in the number of building permits issued in Iowa, and compare it to trends in the number issued in the United States as a whole, using the chart below.
State economic profile
Iowa Population Statistics
Which Counties in Iowa have the Largest Populations?
The counties with the highest populations in Iowa are Polk County, Linn County and Scott County, which had populations of 517,104, 228,619 and 174,600 people in 2026.
| Region | 2026 population | Annual growth 2021-26 | Share of population |
|---|---|---|---|
| Polk | 517.1k | 0.8% | 15.8% |
| Linn | 228.6k | -0.1% | 7.0% |
| Scott | 174.6k | 0.1% | 5.3% |
| Johnson | 161.1k | 0.7% | 4.9% |
| Black Hawk | 130.4k | N/A | 4.0% |
| Dallas | 122.0k | 3.1% | 3.7% |
| Woodbury | 106.5k | 0.2% | 3.2% |
| Dubuque | 99.0k | N/A | 3.0% |
| Story | 98.6k | N/A | 3.0% |
| Pottawattamie | 93.0k | -0.1% | 2.8% |
| Warren | 57.8k | 1.6% | 1.8% |
| Clinton | 45.8k | -0.2% | 1.4% |
| Cerro Gordo | 42.0k | -0.3% | 1.3% |
| Muscatine | 41.5k | -0.5% | 1.3% |
| Marshall | 40.1k | 0.1% | 1.2% |
| Jasper | 38.0k | N/A | 1.2% |
| Des Moines | 37.9k | -0.3% | 1.2% |
| Sioux | 36.6k | 0.4% | 1.1% |
| Webster | 35.9k | -0.5% | 1.1% |
| Wapello | 35.1k | -0.1% | 1.1% |
| Marion | 34.1k | 0.4% | 1.0% |
| Lee | 31.7k | -0.9% | 1.0% |
| Boone | 26.5k | -0.1% | 0.8% |
| Benton | 25.9k | 0.2% | 0.8% |
| Plymouth | 25.8k | N/A | 0.8% |
State economic profile
Iowa Demographics
In Iowa, 33.0% of the population has a Bachelors or higher. The largest ethnic group in Iowa is White, accounting for 80.8% of the state's population.
Education level in Iowa
| Education level | Share (%) |
|---|---|
| Bachelors or higher | 33.0 |
| Other | 67.0 |
Race in Iowa
| Race | Share (%) |
|---|---|
| White | 80.8 |
| Hispanic | 8.5 |
| Black | 4.8 |
| Asian | 3.0 |
| Other | 2.8 |
Iowa State industry reports
IBISWorld State Industry Reports help you quickly understand how an industry performs at the state level compared with the national level, with accurate and unbiased industry information with a local focus. Use this collection to:
- Discover key local industry trends
- Identify threats and opportunities at the subnational level
- Inform your business strategies and planning
See our list of 629 Iowa industry reports.
Other states to explore
Compare Iowa’s economy with other states in the United States.
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