Iowa City, Iowa Housing Market Prices
Iowa City 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 6% below the Iowa median$143,779
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Median rent 11% above the Iowa median$1,077
Housing Market Overview
| Metric | Iowa City | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $143,779 | $153,425 | $248,835 |
| Price Trend (Annual %) | -2.0% | 7.5% | 7.5% |
| Median Gross Rent | $1,077 | $971 | $1,407 |
| Rent Trend (Annual %) | 2.5% | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Iowa City is about 6% lower than in Iowa. Rent is about 11% higher than the Iowa average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Iowa City: home prices fell about 2.0% a year while rent rose about 2.5% a year. That is an unusual pattern worth watching.
Median rent in Iowa City rose about 22.4% between 2015 and 2024, from $880 to $1,077. Over the same span, rent in Iowa rose about 39.6%.
Affordability
On average, housing unit costs 2.6 yearly household incomes in Iowa City.
Buying the median-priced home in Iowa City 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 Iowa City. The price-to-rent ratio in Iowa is about 13.2.
| Metric | Iowa City | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $143,779 | $153,425 | $248,835 |
| Median Household Income | $56,219 | $75,133 | $80,455 |
| Price-to-Income Ratio | 2.6 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Iowa City fell about 30.4%, while median household income rose about 44.5% between 2009 and 2025 — 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 | Iowa City | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.2% | 65.6% | 58.5% |
| Rental Rate | 48.9% | 25.9% | 31.2% |
| Vacancy Rate | 8.9% | 8.5% | 10.2% |
| Median Tenure (years) | 10.0 | 15.0 | 15.0 |
| Median Year Moved In | 2016 | 2011 | 2011 |
Iowa City has a homeownership rate of 42.2%, lower than the Iowa average of 65.6%. Its housing vacancy rate is 8.9%, compared with 8.5% in Iowa.
Housing Stock
| Metric | Iowa City | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.23 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1981 | 1971 | 1978 |
| Median Number of Rooms | 4.9 | 5.9 | 5.5 |
The typical housing unit in Iowa City was built around 1981. On average, 2.2 people live in a home with about 4.9 rooms, staying for about 10.0 years on average.
Iowa City, IA Housing Compared With Nearby Cities
How Iowa City, IA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Iowa City, IA | 66,193 | $143,779 #2/2 | $1,077 #1/2 | 46.3% #2/2 |
| Coralville, IA | 22,755 | $178,882 | $1,076 | 52.5% |
Frequently Asked Questions
Common questions about the housing market in Iowa City, Iowa.
What is the median home price in Iowa City, Iowa?
The median home price in Iowa City, Iowa is $143,779, lower than the Iowa average of $153,425.
What is the average home price in Iowa City, Iowa?
The typical home price in Iowa City, Iowa, reported as the median sale price, is $143,779. 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 City, Iowa?
The median gross rent in Iowa City, Iowa is $1,077 per month, higher than the Iowa average of $971.
What was the median gross rent in Iowa City in 2020?
In 2020, the median gross rent in Iowa City, Iowa was $964 per month.
What is the price-to-rent ratio in Iowa City, Iowa?
The price-to-rent ratio in Iowa City, 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 Iowa City.
Are home prices or rent rising faster in Iowa City, Iowa?
Home prices and rent are moving in opposite directions in Iowa City: home prices fell about 2.0% a year while rent rose about 2.5% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Iowa City, Iowa?
42.2% of households in Iowa City, Iowa own their home, lower than the Iowa average of 65.6%.
What is the vacancy rate in Iowa City, Iowa?
The housing vacancy rate in Iowa City, Iowa is 8.9%, higher than the Iowa average of 8.5%.
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