The Most Affordable Neighborhoods in Cedar Rapids, IA by Home Value

These days, finding an affordable place to live in the Cedar Rapids area can be challenging. Home prices in Cedar Rapids are now at a median cost of $201,110, lower than the Iowa average of $226,062.

The average cost of rent is $1,091/mo in Cedar Rapids, primarily driven by the current value of real estate in the Cedar Rapids area. In Cedar Rapids, 30.49% of households rent, and 36.52% of homeowners own their homes outright.

Housing affordability isn’t just about home prices, though. The average household income in Cedar Rapids is $6,720 per month. Households that rent pay about 16.24% of their income on rent here. Cedar Rapids’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southern parts of the city.

Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.

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