Houghton at a glance
- Population: about 136 residents, ranking 761st of 940 Census places in Iowa (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 139 residents here (US Census Bureau).
- 2020 to 2023 change: roughly 2.2% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Iowa places: 761st of 940 by population (US Census Bureau, Vintage 2023).
- Size percentile: about 19% of Iowa's Census places are smaller (US Census Bureau).
- Coordinates: it sits at 40.7837, -91.6100 in the US Census Bureau Gazetteer.
- Nearest larger cities: Salem, IA (5 mi); Hillsboro, IA (6 mi); West Point, IA (10 mi); Donnellson, IA (10 mi); Bonaparte, IA (11 mi), each a US Census place with its estimated population.
- Nearest smaller towns: St. Paul, IA (5 mi); Franklin, IA (10 mi); Westwood, IA (13 mi) — US Census Bureau populations.
What a personal loan costs in Houghton
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Iowa lending rules that apply in Houghton
The table carries the Iowa rate and licensing rules that apply to consumer loans made in Houghton.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Permitted under license (delayed deposit services; must be physically located in Iowa) Source says: "A person shall not operate a delayed deposit services business in this state unless the person is physically located in this state and licensed by the superintendent". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated Loan Act license required (superintendent of banking) Source says: "shall not engage in the business of making loans ... without first obtaining a license from the superintendent of banking". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| State lending regulator | Iowa Division of Banking (IDOB), Iowa Department of Insurance and Financial Services Source says: "As part of the 2023 state government realignment, the IDOB became part of a new Department of Insurance and Financial Services". | Iowa Division of Banking as of 2026-09-16 |
| Delayed deposit fee cap | Fee cap: $15 on first $100 of check face amount; $10 on subsequent $100 increments Source says: "fifteen dollars on the first one hundred dollars ... or more than ten dollars on subsequent one hundred dollar increments". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 2 percentage points above the monthly average 10-year U.S. Treasury constant maturity rate (written agreements) Source says: "The maximum lawful rate of interest ... in any written agreement ... shall be two percentage points above the monthly average ten-year constant maturity interest rate". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
How to compare offers in Houghton
Here is a short checklist for comparing personal loans in Houghton:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Iowa using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.