Wayne County, Iowa Housing Market Prices
Wayne 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 63% below the Iowa median Cheaper than 80% of counties in Iowa$57,141
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Median rent 32% below the Iowa median Among the top 5 cheapest counties in Iowa$659
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Wayne County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $57,141 | $153,425 | $248,835 |
| Price Trend (Annual %) | 12.1% | 7.5% | 7.5% |
| Median Gross Rent | $659 | $971 | $1,407 |
| Rent Trend (Annual %) | 4.2% | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wayne County is about 63% lower than in Iowa. Rent is about 32% 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 Wayne County, up about 12.1% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Wayne County rose about 38.8% between 2015 and 2024, from $475 to $659. Over the same span, rent in Iowa rose about 39.6%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Wayne County.
Buying the median-priced home in Wayne County costs roughly 7.2 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 Wayne County. The price-to-rent ratio in Iowa is about 13.2.
| Metric | Wayne County | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $57,141 | $153,425 | $248,835 |
| Median Household Income | $61,690 | $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 Wayne County rose about 46.5%, while median household income rose about 56.6% 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 | Wayne County | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 68.7% | 65.6% | 58.5% |
| Rental Rate | 16.2% | 25.9% | 31.2% |
| Vacancy Rate | 15.0% | 8.5% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Wayne County has a homeownership rate of 68.7%, higher than the Iowa average of 65.6%. Its housing vacancy rate is 15.0%, compared with 8.5% in Iowa.
Housing Stock
| Metric | Wayne County | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.50 people | 2.37 people | 2.53 people |
| Median Structure Built Year | 1964 | 1971 | 1978 |
| Median Number of Rooms | 5.9 | 5.9 | 5.5 |
The typical housing unit in Wayne County was built around 1964. On average, 2.5 people live in a home with about 5.9 rooms, staying for about 16.0 years on average.
Wayne County, IA Housing Compared With Nearby Counties
How Wayne County, IA compares with the 1 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Wayne County, IA | 6,531 | $57,141 #1/2 | $659 #2/2 | 80.9% #1/2 |
| Appanoose County, IA | 12,184 | $37,499 | $783 | 68.8% |
Frequently Asked Questions
Common questions about the housing market in Wayne County, Iowa.
What is the median home price in Wayne County, Iowa?
The median home price in Wayne County, Iowa is $57,141, lower than the Iowa average of $153,425.
What is the average home price in Wayne County, Iowa?
The typical home price in Wayne County, Iowa, reported as the median sale price, is $57,141. 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 Wayne County, Iowa?
The median gross rent in Wayne County, Iowa is $659 per month, lower than the Iowa average of $971.
What was the median gross rent in Wayne County in 2020?
In 2020, the median gross rent in Wayne County, Iowa was $542 per month.
What is the price-to-rent ratio in Wayne County, Iowa?
The price-to-rent ratio in Wayne County, Iowa is about 7.2, meaning it would take roughly 7.2 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 Wayne County.
Are home prices or rent rising faster in Wayne County, Iowa?
Both home prices and rent are rising in Wayne County, up about 12.1% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wayne County, Iowa?
68.7% of households in Wayne County, Iowa own their home, higher than the Iowa average of 65.6%.
What is the vacancy rate in Wayne County, Iowa?
The housing vacancy rate in Wayne County, Iowa is 15.0%, higher than the Iowa average of 8.5%.
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