Iowa Housing Market Prices
Iowa Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 38% below the US median Cheaper than 71% of states in US$153,425
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Median rent 31% below the US median Cheaper than 86% of states in US$971
Median Home Price Map: Counties in Iowa
Housing Market Overview
| Metric | Iowa | US Average |
|---|---|---|
| Median Home Price | $153,425 | $248,835 |
| Price Trend (Annual %) | 7.5% | 7.5% |
| Median Gross Rent | $971 | $1,407 |
| Rent Trend (Annual %) | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in Iowa is about 38% lower than in US. Rent is about 31% lower than the US average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Iowa, up about 7.5% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Iowa rose about 39.6% between 2015 and 2024, from $696 to $971. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 2.0 yearly household incomes in Iowa.
Buying the median-priced home in Iowa costs roughly 13.2 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 Iowa. The price-to-rent ratio in US is about 14.7.
| Metric | Iowa | US Average |
|---|---|---|
| Median Home Price | $153,425 | $248,835 |
| Median Household Income | $75,133 | $80,455 |
| Price-to-Income Ratio | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Iowa rose about 77.0%, while median household income rose about 52.7% between 2009 and 2025 — 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 | Iowa | US Average |
|---|---|---|
| Homeownership Rate | 65.6% | 58.5% |
| Rental Rate | 25.9% | 31.2% |
| Vacancy Rate | 8.5% | 10.2% |
| Median Tenure (years) | 15.0 | 15.0 |
| Median Year Moved In | 2011 | 2011 |
Iowa has a homeownership rate of 65.6%, higher than the US average of 58.5%. Its housing vacancy rate is 8.5%, compared with 10.2% in US.
Housing Stock
| Metric | Iowa | US Average |
|---|---|---|
| Average Household Size | 2.37 people | 2.53 people |
| Median Structure Built Year | 1971 | 1978 |
| Median Number of Rooms | 5.9 | 5.5 |
The typical housing unit in Iowa was built around 1971. On average, 2.4 people live in a home with about 5.9 rooms, staying for about 15.0 years on average.
Iowa Housing Compared With Nearby States
Iowa is the 5th largest of the 6 states compared here, 3,204,793 residents against a local median of 5,910,864. Iowa sits close to the middle of its own neighbourhood. No measure below is more than 15% off the local median, so the choice between these states turns on things this data does not capture.
The largest of those small differences is median rent, 11% below the local median at $971 against $1,087. Iowa has the 6th highest median rent of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Iowa | 3,204,793 | $153,425 #3/6 | $971 #6/6 | 71.7% #2/6 |
| Missouri | 6,186,340 | $145,462 | $1,033 | 68.1% |
| Minnesota | 5,724,000 | $236,718 | $1,280 | 72.2% |
| Wisconsin | 5,910,864 | $170,479 | $1,087 | 67.8% |
| Illinois | 12,692,444 | $149,936 | $1,274 | 67.1% |
| Kansas | 2,945,842 | $104,644 | $1,060 | 67.1% |
Frequently Asked Questions
Common questions about the housing market in Iowa.
What is the median home price in Iowa?
The median home price in Iowa is $153,425, lower than the US average of $248,835.
What is the average home price in Iowa?
The typical home price in Iowa, reported as the median sale price, is $153,425. 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 Iowa?
The median gross rent in Iowa is $971 per month, lower than the US average of $1,407.
What was the median gross rent in Iowa in 2020?
In 2020, the median gross rent in Iowa was $806 per month.
What is the price-to-rent ratio in Iowa?
The price-to-rent ratio in Iowa is about 13.2, meaning it would take roughly 13.2 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 Iowa.
Are home prices or rent rising faster in Iowa?
Both home prices and rent are rising in Iowa, up about 7.5% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Iowa?
65.6% of households in Iowa own their home, higher than the US average of 58.5%.
What is the vacancy rate in Iowa?
The housing vacancy rate in Iowa is 8.5%, lower than the US average of 10.2%.
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