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These days, finding an affordable place to live in the Iowa City area can be challenging. Home prices in Iowa City are now at a median cost of $332,850, higher than the Iowa average of $226,062.
The average cost of rent is $1,206/mo in Iowa City, primarily driven by the current value of real estate in the Iowa City area. In Iowa City, 49.06% of households rent, and 43.94% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Iowa City is $5,812 per month. Households that rent pay about 20.74% of their income on rent here. Iowa City’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- University Heights, IA: higher priced homes
- Coralville, IA: less expensive homes
- Hills, IA: less expensive homes
- Morse, IA: higher priced homes
- North Liberty, IA: equally priced homes
- Tiffin, IA: equally priced homes
- Oasis, IA: higher priced homes
- Downey, IA: equally priced homes
- West Branch, IA: less expensive homes
- Solon, IA: higher priced homes
Cities with Similar Populations
- St. Cloud, FL: higher priced homes
- Springfield, MO: less expensive homes
- Springfield, MA: less expensive homes
- Springfield, IL: less expensive homes
- South Jordan, UT: higher priced homes
- Smyrna, GA: higher priced homes
- St. Augustine, FL: higher priced homes
- South Bend, IN: less expensive homes
- South Hill, WA: higher priced homes
- Springfield, OH: less expensive homes
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