Mason City, Iowa Housing Market Prices
Mason 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 63% below the Iowa median$56,099
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Median rent 7% below the Iowa median$900
Housing Market Overview
| Metric | Mason City | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $56,099 | $153,425 | $248,835 |
| Price Trend (Annual %) | -6.5% | 7.5% | 7.5% |
| Median Gross Rent | $900 | $971 | $1,407 |
| Rent Trend (Annual %) | 4.0% | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Mason City is about 63% lower than in Iowa. Rent is about 7% lower 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 Mason City: home prices fell about 6.5% a year while rent rose about 4.0% a year. That is an unusual pattern worth watching.
Median rent in Mason City rose about 44.6% between 2015 and 2024, from $623 to $900. Over the same span, rent in Iowa rose about 39.6%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Mason City.
Buying the median-priced home in Mason City costs roughly 5.2 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 Mason City. The price-to-rent ratio in Iowa is about 13.2.
| Metric | Mason City | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $56,099 | $153,425 | $248,835 |
| Median Household Income | $63,646 | $75,133 | $80,455 |
| Price-to-Income Ratio | 0.9 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Mason City fell about 45.6%, while median household income rose about 47.4% 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 | Mason City | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 58.6% | 65.6% | 58.5% |
| Rental Rate | 30.2% | 25.9% | 31.2% |
| Vacancy Rate | 11.2% | 8.5% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Mason City has a homeownership rate of 58.6%, lower than the Iowa average of 65.6%. Its housing vacancy rate is 11.2%, compared with 8.5% in Iowa.
Housing Stock
| Metric | Mason City | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.07 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1957 | 1971 | 1978 |
| Median Number of Rooms | 5.6 | 5.9 | 5.5 |
The typical housing unit in Mason City was built around 1957. On average, 2.1 people live in a home with about 5.6 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Mason City, Iowa.
What is the median home price in Mason City, Iowa?
The median home price in Mason City, Iowa is $56,099, lower than the Iowa average of $153,425.
What is the average home price in Mason City, Iowa?
The typical home price in Mason City, Iowa, reported as the median sale price, is $56,099. 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 Mason City, Iowa?
The median gross rent in Mason City, Iowa is $900 per month, lower than the Iowa average of $971.
What was the median gross rent in Mason City in 2020?
In 2020, the median gross rent in Mason City, Iowa was $734 per month.
What is the price-to-rent ratio in Mason City, Iowa?
The price-to-rent ratio in Mason City, Iowa is about 5.2, meaning it would take roughly 5.2 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 Mason City.
Are home prices or rent rising faster in Mason City, Iowa?
Home prices and rent are moving in opposite directions in Mason City: home prices fell about 6.5% a year while rent rose about 4.0% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Mason City, Iowa?
58.6% of households in Mason City, Iowa own their home, lower than the Iowa average of 65.6%.
What is the vacancy rate in Mason City, Iowa?
The housing vacancy rate in Mason City, Iowa is 11.2%, higher than the Iowa average of 8.5%.
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