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 | Iowa County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,999 | $143,535 | $242,182 |
| Price Trend (Annual %) | 15.1% | 7.5% | 8.2% |
| Median Gross Rent | $721 | $948 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Iowa County is about 16% lower than in Iowa. Rent is about 24% 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 Iowa County, up about 15.1% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Iowa County rose about 38.7% between 2015 and 2023, from $520 to $721. Over the same span, rent in Iowa rose about 36.3%.
Affordability
On average, housing unit costs 1.7 yearly household incomes in Iowa County.
Buying the median-priced home in Iowa County costs roughly 13.9 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 County. The price-to-rent ratio in Iowa is about 12.6.
| Metric | Iowa County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $119,999 | $143,535 | $242,182 |
| Median Household Income | $72,285 | $73,286 | $78,145 |
| Price-to-Income Ratio | 1.7 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Iowa County rose about 157.7%, while median household income rose about 30.3% 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 | Iowa County | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 70.8% | 65.3% | 58.2% |
| Rental Rate | 22.3% | 26.0% | 31.3% |
| Vacancy Rate | 6.9% | 8.6% | 10.6% |
| Median Tenure (years) | 17.0 | 15.0 | 15.0 |
| Median Year Moved In | 2009 | 2011 | 2011 |
Iowa County has a homeownership rate of 70.8%, higher than the Iowa average of 65.3%. Its housing vacancy rate is 6.9%, compared with 8.6% in Iowa.
Housing Stock
| Metric | Iowa County | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.37 people | 2.37 people | 2.54 people |
| Median Structure Built Year | 1970 | 1970 | 1978 |
| Median Number of Rooms | 6.6 | 5.9 | 5.5 |
The typical housing unit in Iowa County was built around 1970. On average, 2.4 people live in a home with about 6.6 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Iowa County, Iowa.
What is the median home price in Iowa County, Iowa?
The median home price in Iowa County, Iowa is $119,999, lower than the Iowa average of $143,535.
What is the average home price in Iowa 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 Iowa County, Iowa?
The median gross rent in Iowa County, Iowa is $721 per month, lower than the Iowa average of $948.
What was the median gross rent in Iowa County in 2020?
In 2020, the median gross rent in Iowa County, Iowa was $614 per month.
What is the price-to-rent ratio in Iowa County, Iowa?
The price-to-rent ratio in Iowa County, Iowa is about 13.9, meaning it would take roughly 13.9 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 County.
Are home prices or rent rising faster in Iowa County, Iowa?
Both home prices and rent are rising in Iowa County, up about 15.1% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Iowa County, Iowa?
70.8% of households in Iowa County, Iowa own their home, higher than the Iowa average of 65.3%.
What is the vacancy rate in Iowa County, Iowa?
The housing vacancy rate in Iowa County, Iowa is 6.9%, lower than the Iowa average of 8.6%.