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 | Taylor County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $126,389 | $143,535 | $242,182 |
| Price Trend (Annual %) | 70.1% | 7.5% | 8.2% |
| Median Gross Rent | $707 | $948 | $1,342 |
| Rent Trend (Annual %) | 2.7% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Taylor County is about 12% lower than in Iowa. Rent is about 25% 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 Taylor County, up about 70.1% and 2.7% a year respectively. Home prices are changing faster.
Median rent in Taylor County rose about 19.5% between 2015 and 2023, from $591 to $707. Over the same span, rent in Iowa rose about 36.3%.
Affordability
On average, housing unit costs 1.9 yearly household incomes in Taylor County.
Buying the median-priced home in Taylor County costs roughly 14.9 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 Taylor County. The price-to-rent ratio in Iowa is about 12.6.
| Metric | Taylor County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $126,389 | $143,535 | $242,182 |
| Median Household Income | $65,811 | $73,286 | $78,145 |
| Price-to-Income Ratio | 1.9 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Taylor County rose about 68.5%, while median household income rose about 74.3% 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 | Taylor County | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.5% | 65.3% | 58.2% |
| Rental Rate | 19.0% | 26.0% | 31.3% |
| Vacancy Rate | 14.5% | 8.6% | 10.6% |
| Median Tenure (years) | 18.0 | 15.0 | 15.0 |
| Median Year Moved In | 2008 | 2011 | 2011 |
Taylor County has a homeownership rate of 66.5%, higher than the Iowa average of 65.3%. Its housing vacancy rate is 14.5%, compared with 8.6% in Iowa.
Housing Stock
| Metric | Taylor County | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.35 people | 2.37 people | 2.54 people |
| Median Structure Built Year | 1956 | 1970 | 1978 |
| Median Number of Rooms | 6.3 | 5.9 | 5.5 |
The typical housing unit in Taylor County was built around 1956. On average, 2.3 people live in a home with about 6.3 rooms, staying for about 18.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Taylor County, Iowa.
What is the median home price in Taylor County, Iowa?
The median home price in Taylor County, Iowa is $126,389, lower than the Iowa average of $143,535.
What is the average home price in Taylor 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 Taylor County, Iowa?
The median gross rent in Taylor County, Iowa is $707 per month, lower than the Iowa average of $948.
What was the median gross rent in Taylor County in 2020?
In 2020, the median gross rent in Taylor County, Iowa was $580 per month.
What is the price-to-rent ratio in Taylor County, Iowa?
The price-to-rent ratio in Taylor County, Iowa is about 14.9, meaning it would take roughly 14.9 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 Taylor County.
Are home prices or rent rising faster in Taylor County, Iowa?
Both home prices and rent are rising in Taylor County, up about 70.1% and 2.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Taylor County, Iowa?
66.5% of households in Taylor County, Iowa own their home, higher than the Iowa average of 65.3%.
What is the vacancy rate in Taylor County, Iowa?
The housing vacancy rate in Taylor County, Iowa is 14.5%, higher than the Iowa average of 8.6%.