Housing Market Overview
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 Map: Nearby Counties
Housing Market Overview
| Metric | Appanoose County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $45,277 | $143,535 | $242,182 |
| Price Trend (Annual %) | -1.1% | 7.5% | 8.2% |
| Median Gross Rent | $778 | $948 | $1,342 |
| Rent Trend (Annual %) | 4.9% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Appanoose County is about 68% lower than in Iowa. Rent is about 18% lower than the Iowa average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Appanoose County: home prices fell about 1.1% a year while rent rose about 4.9% a year. That is an unusual pattern worth watching.
Median rent in Appanoose County rose about 45.5% between 2015 and 2023, from $535 to $778. Over the same span, rent in Iowa rose about 36.3%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Appanoose County.
Buying the median-priced home in Appanoose County costs roughly 4.8 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 Appanoose County. The price-to-rent ratio in Iowa is about 12.6.
| Metric | Appanoose County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $45,277 | $143,535 | $242,182 |
| Median Household Income | $51,740 | $73,286 | $78,145 |
| Price-to-Income Ratio | 0.9 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Appanoose County fell about 16.5%, while median household income rose about 58.3% between 2009 and 2023 — 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 | Appanoose County | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.8% | 65.3% | 58.2% |
| Rental Rate | 24.5% | 26.0% | 31.3% |
| Vacancy Rate | 20.7% | 8.6% | 10.6% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Appanoose County has a homeownership rate of 54.8%, lower than the Iowa average of 65.3%. Its housing vacancy rate is 20.7%, compared with 8.6% in Iowa.
Housing Stock
| Metric | Appanoose County | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.37 people | 2.54 people |
| Median Structure Built Year | 1964 | 1970 | 1978 |
| Median Number of Rooms | 5.4 | 5.9 | 5.5 |
The typical housing unit in Appanoose County was built around 1964. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Appanoose County, Iowa.
What is the median home price in Appanoose County, Iowa?
The median home price in Appanoose County, Iowa is $45,277, lower than the Iowa average of $143,535.
What is the average home price in Appanoose County, Iowa?
The typical home price in %s, reported as the median sale price, is %s. 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 Appanoose County, Iowa?
The median gross rent in Appanoose County, Iowa is $778 per month, lower than the Iowa average of $948.
What was the median gross rent in Appanoose County in 2020?
In 2020, the median gross rent in Appanoose County, Iowa was $661 per month.
What is the price-to-rent ratio in Appanoose County, Iowa?
The price-to-rent ratio in Appanoose County, Iowa is about 4.8, meaning it would take roughly 4.8 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 Appanoose County.
Are home prices or rent rising faster in Appanoose County, Iowa?
Home prices and rent are moving in opposite directions in Appanoose County: home prices fell about 1.1% a year while rent rose about 4.9% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Appanoose County, Iowa?
54.8% of households in Appanoose County, Iowa own their home, lower than the Iowa average of 65.3%.
What is the vacancy rate in Appanoose County, Iowa?
The housing vacancy rate in Appanoose County, Iowa is 20.7%, higher than the Iowa average of 8.6%.