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 | Hamilton County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $84,000 | $143,535 | $242,182 |
| Price Trend (Annual %) | 165.0% | 7.5% | 8.2% |
| Median Gross Rent | $852 | $948 | $1,342 |
| Rent Trend (Annual %) | 4.4% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hamilton County is about 41% lower than in Iowa. Rent is about 10% 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 Hamilton County, up about 165.0% and 4.4% a year respectively. Home prices are changing faster.
Median rent in Hamilton County rose about 33.7% between 2015 and 2023, from $638 to $852. Over the same span, rent in Iowa rose about 36.3%.
Affordability
On average, housing unit costs 1.2 yearly household incomes in Hamilton County.
Buying the median-priced home in Hamilton County costs roughly 8.2 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 Hamilton County. The price-to-rent ratio in Iowa is about 12.6.
| Metric | Hamilton County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $84,000 | $143,535 | $242,182 |
| Median Household Income | $71,387 | $73,286 | $78,145 |
| Price-to-Income Ratio | 1.2 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Hamilton County rose about 1.1%, while median household income rose about 50.1% 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 | Hamilton County | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.0% | 65.3% | 58.2% |
| Rental Rate | 23.5% | 26.0% | 31.3% |
| Vacancy Rate | 10.5% | 8.6% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Hamilton County has a homeownership rate of 66.0%, higher than the Iowa average of 65.3%. Its housing vacancy rate is 10.5%, compared with 8.6% in Iowa.
Housing Stock
| Metric | Hamilton County | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.33 people | 2.37 people | 2.54 people |
| Median Structure Built Year | 1959 | 1970 | 1978 |
| Median Number of Rooms | 6.2 | 5.9 | 5.5 |
The typical housing unit in Hamilton County was built around 1959. On average, 2.3 people live in a home with about 6.2 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hamilton County, Iowa.
What is the median home price in Hamilton County, Iowa?
The median home price in Hamilton County, Iowa is $84,000, lower than the Iowa average of $143,535.
What is the average home price in Hamilton 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 Hamilton County, Iowa?
The median gross rent in Hamilton County, Iowa is $852 per month, lower than the Iowa average of $948.
What was the median gross rent in Hamilton County in 2020?
In 2020, the median gross rent in Hamilton County, Iowa was $762 per month.
What is the price-to-rent ratio in Hamilton County, Iowa?
The price-to-rent ratio in Hamilton County, Iowa is about 8.2, meaning it would take roughly 8.2 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 Hamilton County.
Are home prices or rent rising faster in Hamilton County, Iowa?
Both home prices and rent are rising in Hamilton County, up about 165.0% and 4.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Hamilton County, Iowa?
66.0% of households in Hamilton County, Iowa own their home, higher than the Iowa average of 65.3%.
What is the vacancy rate in Hamilton County, Iowa?
The housing vacancy rate in Hamilton County, Iowa is 10.5%, higher than the Iowa average of 8.6%.