Balfour is an unincorporated community in Mills County, in the U.S. state of Iowa.

Balfour is 4 miles (6.4 km) from the county seat of Glenwood.

[2] Balfour was founded in 1902 when the Chicago, Burlington & Quincy Railroad bypassed Hillsdale.

[3] Balfour and Hebard were declared as "new towns" on the railroad by the Council Bluffs Daily Nonpareil, replacing Hillsdale and Hawthorne, towns now without rail access and saving the C.B.& Q.

[4] The grange hall at Hillsdale was moved to Balfour and was dedicated on December 12, 1912.