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 | Hardin County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $68,374 | $143,535 | $242,182 |
| Price Trend (Annual %) | 4.7% | 7.5% | 8.2% |
| Median Gross Rent | $814 | $948 | $1,342 |
| Rent Trend (Annual %) | 5.2% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Hardin County is about 52% lower than in Iowa. Rent is about 14% 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 Hardin County, up about 4.7% and 5.2% a year respectively. Rent is changing faster.
Median rent in Hardin County rose about 43.6% between 2015 and 2023, from $567 to $814. Over the same span, rent in Iowa rose about 36.3%.
Affordability
On average, housing unit costs 1.0 yearly household incomes in Hardin County.
Buying the median-priced home in Hardin County costs roughly 7.0 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 Hardin County. The price-to-rent ratio in Iowa is about 12.6.
| Metric | Hardin County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $68,374 | $143,535 | $242,182 |
| Median Household Income | $65,417 | $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 Hardin County rose about 79.2%, while median household income rose about 53.8% between 2009 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 | Hardin County | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.0% | 65.3% | 58.2% |
| Rental Rate | 23.3% | 26.0% | 31.3% |
| Vacancy Rate | 12.7% | 8.6% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Hardin County has a homeownership rate of 64.0%, lower than the Iowa average of 65.3%. Its housing vacancy rate is 12.7%, compared with 8.6% in Iowa.
Housing Stock
| Metric | Hardin County | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.37 people | 2.54 people |
| Median Structure Built Year | 1953 | 1970 | 1978 |
| Median Number of Rooms | 6.3 | 5.9 | 5.5 |
The typical housing unit in Hardin County was built around 1953. On average, 2.3 people live in a home with about 6.3 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Hardin County, Iowa.
What is the median home price in Hardin County, Iowa?
The median home price in Hardin County, Iowa is $68,374, lower than the Iowa average of $143,535.
What is the average home price in Hardin 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 Hardin County, Iowa?
The median gross rent in Hardin County, Iowa is $814 per month, lower than the Iowa average of $948.
What was the median gross rent in Hardin County in 2020?
In 2020, the median gross rent in Hardin County, Iowa was $692 per month.
What is the price-to-rent ratio in Hardin County, Iowa?
The price-to-rent ratio in Hardin County, Iowa is about 7.0, meaning it would take roughly 7.0 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 Hardin County.
Are home prices or rent rising faster in Hardin County, Iowa?
Both home prices and rent are rising in Hardin County, up about 4.7% and 5.2% a year respectively. Rent is changing faster.
What is the homeownership rate in Hardin County, Iowa?
64.0% of households in Hardin County, Iowa own their home, lower than the Iowa average of 65.3%.
What is the vacancy rate in Hardin County, Iowa?
The housing vacancy rate in Hardin County, Iowa is 12.7%, higher than the Iowa average of 8.6%.