Palo Alto County, Iowa Housing Market Prices
Palo Alto County 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 47% below the Iowa median Cheaper than 70% of counties in Iowa$80,714
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Median rent 34% below the Iowa median Among the top 3 cheapest counties in Iowa$637
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Palo Alto County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $80,714 | $153,425 | $248,835 |
| Price Trend (Annual %) | 4.1% | 7.5% | 7.5% |
| Median Gross Rent | $637 | $971 | $1,407 |
| Rent Trend (Annual %) | 1.8% | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Palo Alto County is about 47% lower than in Iowa. Rent is about 34% lower than the Iowa 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 Palo Alto County, up about 4.1% and 1.8% a year respectively. Home prices are changing faster.
Median rent in Palo Alto County rose about 20.5% between 2015 and 2024, from $529 to $637. Over the same span, rent in Iowa rose about 39.6%.
Affordability
On average, housing unit costs 1.1 yearly household incomes in Palo Alto County.
Buying the median-priced home in Palo Alto County costs roughly 10.6 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 Palo Alto County. The price-to-rent ratio in Iowa is about 13.2.
| Metric | Palo Alto County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $80,714 | $153,425 | $248,835 |
| Median Household Income | $71,742 | $75,133 | $80,455 |
| Price-to-Income Ratio | 1.1 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Palo Alto County rose about 19.6%, while median household income rose about 65.5% 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 | Palo Alto County | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.3% | 65.6% | 58.5% |
| Rental Rate | 19.1% | 25.9% | 31.2% |
| Vacancy Rate | 16.6% | 8.5% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Palo Alto County has a homeownership rate of 64.3%, lower than the Iowa average of 65.6%. Its housing vacancy rate is 16.6%, compared with 8.5% in Iowa.
Housing Stock
| Metric | Palo Alto County | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.26 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1957 | 1971 | 1978 |
| Median Number of Rooms | 6.4 | 5.9 | 5.5 |
The typical housing unit in Palo Alto County was built around 1957. On average, 2.3 people live in a home with about 6.4 rooms, staying for about 16.0 years on average.
Palo Alto County, IA Housing Compared With Nearby Counties
How Palo Alto County, IA compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Palo Alto County, IA | 8,863 | $80,714 #2/2 | $637 #2/2 | 77.1% #1/2 |
| Clay County, IA | 16,461 | $241,666 | $811 | 73.3% |
Frequently Asked Questions
Common questions about the housing market in Palo Alto County, Iowa.
What is the median home price in Palo Alto County, Iowa?
The median home price in Palo Alto County, Iowa is $80,714, lower than the Iowa average of $153,425.
What is the average home price in Palo Alto County, Iowa?
The typical home price in Palo Alto County, Iowa, reported as the median sale price, is $80,714. 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 Palo Alto County, Iowa?
The median gross rent in Palo Alto County, Iowa is $637 per month, lower than the Iowa average of $971.
What was the median gross rent in Palo Alto County in 2020?
In 2020, the median gross rent in Palo Alto County, Iowa was $544 per month.
What is the price-to-rent ratio in Palo Alto County, Iowa?
The price-to-rent ratio in Palo Alto County, Iowa is about 10.6, meaning it would take roughly 10.6 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 Palo Alto County.
Are home prices or rent rising faster in Palo Alto County, Iowa?
Both home prices and rent are rising in Palo Alto County, up about 4.1% and 1.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Palo Alto County, Iowa?
64.3% of households in Palo Alto County, Iowa own their home, lower than the Iowa average of 65.6%.
What is the vacancy rate in Palo Alto County, Iowa?
The housing vacancy rate in Palo Alto County, Iowa is 16.6%, higher than the Iowa average of 8.5%.
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