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 | Emmet County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $97,156 | $143,535 | $242,182 |
| Price Trend (Annual %) | 5.9% | 7.5% | 8.2% |
| Median Gross Rent | $730 | $948 | $1,342 |
| Rent Trend (Annual %) | 3.9% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Emmet County is about 32% lower than in Iowa. Rent is about 23% 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 Emmet County, up about 5.9% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Emmet County rose about 20.2% between 2015 and 2023, from $607 to $730. Over the same span, rent in Iowa rose about 36.3%.
Affordability
On average, housing unit costs 1.5 yearly household incomes in Emmet County.
Buying the median-priced home in Emmet County costs roughly 11.1 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 Emmet County. The price-to-rent ratio in Iowa is about 12.6.
| Metric | Emmet County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $97,156 | $143,535 | $242,182 |
| Median Household Income | $62,973 | $73,286 | $78,145 |
| Price-to-Income Ratio | 1.5 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Emmet County rose about 54.5%, while median household income rose about 45.2% between 2010 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Emmet County | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.5% | 65.3% | 58.2% |
| Rental Rate | 19.3% | 26.0% | 31.3% |
| Vacancy Rate | 13.2% | 8.6% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Emmet County has a homeownership rate of 67.5%, higher than the Iowa average of 65.3%. Its housing vacancy rate is 13.2%, compared with 8.6% in Iowa.
Housing Stock
| Metric | Emmet County | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.22 people | 2.37 people | 2.54 people |
| Median Structure Built Year | 1956 | 1970 | 1978 |
| Median Number of Rooms | 6.1 | 5.9 | 5.5 |
The typical housing unit in Emmet County was built around 1956. On average, 2.2 people live in a home with about 6.1 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Emmet County, Iowa.
What is the median home price in Emmet County, Iowa?
The median home price in Emmet County, Iowa is $97,156, lower than the Iowa average of $143,535.
What is the average home price in Emmet 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 Emmet County, Iowa?
The median gross rent in Emmet County, Iowa is $730 per month, lower than the Iowa average of $948.
What was the median gross rent in Emmet County in 2020?
In 2020, the median gross rent in Emmet County, Iowa was $636 per month.
What is the price-to-rent ratio in Emmet County, Iowa?
The price-to-rent ratio in Emmet County, Iowa is about 11.1, meaning it would take roughly 11.1 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 Emmet County.
Are home prices or rent rising faster in Emmet County, Iowa?
Both home prices and rent are rising in Emmet County, up about 5.9% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Emmet County, Iowa?
67.5% of households in Emmet County, Iowa own their home, higher than the Iowa average of 65.3%.
What is the vacancy rate in Emmet County, Iowa?
The housing vacancy rate in Emmet County, Iowa is 13.2%, higher than the Iowa average of 8.6%.