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These days, finding an affordable place to live in the Downey area can be challenging. Home prices in Downey are now at a median cost of $329,463, higher than the Iowa average of $226,062.
The average cost of rent is $1,076/mo in Downey, primarily driven by the current value of real estate in the Downey area. In Downey, 10.82% of households rent, and 50.52% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Downey is $6,868 per month. Households that rent pay about 15.66% of their income on rent here. Downey’s most expensive areas are in the southeastern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- West Branch, IA: less expensive homes
- West Liberty, IA: less expensive homes
- Oasis, IA: higher priced homes
- Springdale, IA: equally priced homes
- Lone Tree, IA: less expensive homes
- Iowa City, IA: equally priced homes
- Hills, IA: less expensive homes
- University Heights, IA: higher priced homes
- Morse, IA: higher priced homes
- Nichols, IA: less expensive homes
Cities with Similar Populations
- Letona, AR: less expensive homes
- Scullin, OK: less expensive homes
- Schlater, MS: less expensive homes
- Sabine Pass, TX: less expensive homes
- Rundell, PA: less expensive homes
- Romayor, TX: less expensive homes
- Rogers, NE: less expensive homes
- Rockville, NE: less expensive homes
- Redoak, OH: less expensive homes
- Red Lane, WY: equally priced homes
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