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 | Tama County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,446 | $143,535 | $242,182 |
| Price Trend (Annual %) | 6.4% | 7.5% | 8.2% |
| Median Gross Rent | $864 | $948 | $1,342 |
| Rent Trend (Annual %) | 4.0% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Tama County is about 24% lower than in Iowa. Rent is about 9% 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 Tama County, up about 6.4% and 4.0% a year respectively. Home prices are changing faster.
Median rent in Tama County rose about 28.6% between 2015 and 2023, from $672 to $864. Over the same span, rent in Iowa rose about 36.3%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in Tama County.
Buying the median-priced home in Tama County costs roughly 10.5 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 Tama County. The price-to-rent ratio in Iowa is about 12.6.
| Metric | Tama County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $108,446 | $143,535 | $242,182 |
| Median Household Income | $67,357 | $73,286 | $78,145 |
| Price-to-Income Ratio | 1.6 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Tama County rose about 31.3%, while median household income rose about 47.7% between 2009 and 2023 — 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 | Tama County | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.8% | 65.3% | 58.2% |
| Rental Rate | 20.9% | 26.0% | 31.3% |
| Vacancy Rate | 11.4% | 8.6% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Tama County has a homeownership rate of 67.8%, higher than the Iowa average of 65.3%. Its housing vacancy rate is 11.4%, compared with 8.6% in Iowa.
Housing Stock
| Metric | Tama County | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.37 people | 2.54 people |
| Median Structure Built Year | 1959 | 1970 | 1978 |
| Median Number of Rooms | 6.2 | 5.9 | 5.5 |
The typical housing unit in Tama County was built around 1959. On average, 2.5 people live in a home with about 6.2 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Tama County, Iowa.
What is the median home price in Tama County, Iowa?
The median home price in Tama County, Iowa is $108,446, lower than the Iowa average of $143,535.
What is the average home price in Tama 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 Tama County, Iowa?
The median gross rent in Tama County, Iowa is $864 per month, lower than the Iowa average of $948.
What was the median gross rent in Tama County in 2020?
In 2020, the median gross rent in Tama County, Iowa was $728 per month.
What is the price-to-rent ratio in Tama County, Iowa?
The price-to-rent ratio in Tama County, Iowa is about 10.5, meaning it would take roughly 10.5 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 Tama County.
Are home prices or rent rising faster in Tama County, Iowa?
Both home prices and rent are rising in Tama County, up about 6.4% and 4.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Tama County, Iowa?
67.8% of households in Tama County, Iowa own their home, higher than the Iowa average of 65.3%.
What is the vacancy rate in Tama County, Iowa?
The housing vacancy rate in Tama County, Iowa is 11.4%, higher than the Iowa average of 8.6%.