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 | Delaware County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,814 | $143,535 | $242,182 |
| Price Trend (Annual %) | 7.0% | 7.5% | 8.2% |
| Median Gross Rent | $742 | $948 | $1,342 |
| Rent Trend (Annual %) | 2.5% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Delaware County is about 47% lower than in Iowa. Rent is about 22% lower than the Iowa average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Delaware County, up about 7.0% and 2.5% a year respectively. Home prices are changing faster.
Median rent in Delaware County rose about 23.2% between 2015 and 2023, from $602 to $742. Over the same span, rent in Iowa rose about 36.3%.
Affordability
On average, housing unit costs 1.0 yearly household incomes in Delaware County.
Buying the median-priced home in Delaware County costs roughly 8.5 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 Delaware County. The price-to-rent ratio in Iowa is about 12.6.
| Metric | Delaware County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $75,814 | $143,535 | $242,182 |
| Median Household Income | $76,116 | $73,286 | $78,145 |
| Price-to-Income Ratio | 1.0 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Delaware County rose about 8.3%, while median household income rose about 59.7% 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 | Delaware County | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 72.6% | 65.3% | 58.2% |
| Rental Rate | 15.5% | 26.0% | 31.3% |
| Vacancy Rate | 11.9% | 8.6% | 10.6% |
| Median Tenure (years) | 20.0 | 15.0 | 15.0 |
| Median Year Moved In | 2006 | 2011 | 2011 |
Delaware County has a homeownership rate of 72.6%, higher than the Iowa average of 65.3%. Its housing vacancy rate is 11.9%, compared with 8.6% in Iowa.
Housing Stock
| Metric | Delaware County | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.41 people | 2.37 people | 2.54 people |
| Median Structure Built Year | 1965 | 1970 | 1978 |
| Median Number of Rooms | 6.3 | 5.9 | 5.5 |
The typical housing unit in Delaware County was built around 1965. On average, 2.4 people live in a home with about 6.3 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Delaware County, Iowa.
What is the median home price in Delaware County, Iowa?
The median home price in Delaware County, Iowa is $75,814, lower than the Iowa average of $143,535.
What is the average home price in Delaware 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 Delaware County, Iowa?
The median gross rent in Delaware County, Iowa is $742 per month, lower than the Iowa average of $948.
What was the median gross rent in Delaware County in 2020?
In 2020, the median gross rent in Delaware County, Iowa was $620 per month.
What is the price-to-rent ratio in Delaware County, Iowa?
The price-to-rent ratio in Delaware County, Iowa is about 8.5, meaning it would take roughly 8.5 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 Delaware County.
Are home prices or rent rising faster in Delaware County, Iowa?
Both home prices and rent are rising in Delaware County, up about 7.0% and 2.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Delaware County, Iowa?
72.6% of households in Delaware County, Iowa own their home, higher than the Iowa average of 65.3%.
What is the vacancy rate in Delaware County, Iowa?
The housing vacancy rate in Delaware County, Iowa is 11.9%, higher than the Iowa average of 8.6%.