Ames, Iowa Housing Market Prices
Ames Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 24% below the Iowa median$116,304
-
Median rent 2% above the Iowa median$989
Housing Market Overview
| Metric | Ames | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $116,304 | $153,425 | $248,835 |
| Price Trend (Annual %) | -1.1% | 7.5% | 7.5% |
| Median Gross Rent | $989 | $971 | $1,407 |
| Rent Trend (Annual %) | 2.5% | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Ames is about 24% lower than in Iowa. Rent is about 2% higher than the Iowa average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Ames: home prices fell about 1.1% a year while rent rose about 2.5% a year. That is an unusual pattern worth watching.
Median rent in Ames rose about 28.5% between 2015 and 2024, from $769 to $989. Over the same span, rent in Iowa rose about 39.6%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Ames.
Buying the median-priced home in Ames costs roughly 9.8 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Ames. The price-to-rent ratio in Iowa is about 13.2.
| Metric | Ames | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $116,304 | $153,425 | $248,835 |
| Median Household Income | $59,440 | $75,133 | $80,455 |
| Price-to-Income Ratio | 2.0 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Ames fell about 14.2%, while median household income rose about 65.1% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Ames | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 38.1% | 65.6% | 58.5% |
| Rental Rate | 53.5% | 25.9% | 31.2% |
| Vacancy Rate | 8.4% | 8.5% | 10.2% |
| Median Tenure (years) | 8.0 | 15.0 | 15.0 |
| Median Year Moved In | 2018 | 2011 | 2011 |
Ames has a homeownership rate of 38.1%, lower than the Iowa average of 65.6%. Its housing vacancy rate is 8.4%, compared with 8.5% in Iowa.
Housing Stock
| Metric | Ames | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.18 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1985 | 1971 | 1978 |
| Median Number of Rooms | 4.9 | 5.9 | 5.5 |
The typical housing unit in Ames was built around 1985. On average, 2.2 people live in a home with about 4.9 rooms, staying for about 8.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Ames, Iowa.
What is the median home price in Ames, Iowa?
The median home price in Ames, Iowa is $116,304, lower than the Iowa average of $153,425.
What is the average home price in Ames, Iowa?
The typical home price in Ames, Iowa, reported as the median sale price, is $116,304. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Ames, Iowa?
The median gross rent in Ames, Iowa is $989 per month, higher than the Iowa average of $971.
What was the median gross rent in Ames in 2020?
In 2020, the median gross rent in Ames, Iowa was $934 per month.
What is the price-to-rent ratio in Ames, Iowa?
The price-to-rent ratio in Ames, Iowa is about 9.8, meaning it would take roughly 9.8 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Ames.
Are home prices or rent rising faster in Ames, Iowa?
Home prices and rent are moving in opposite directions in Ames: home prices fell about 1.1% a year while rent rose about 2.5% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Ames, Iowa?
38.1% of households in Ames, Iowa own their home, lower than the Iowa average of 65.6%.
What is the vacancy rate in Ames, Iowa?
The housing vacancy rate in Ames, Iowa is 8.4%, lower than the Iowa average of 8.5%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →