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These days, finding an affordable place to live in the Iowa area can be challenging. Home prices in Iowa are now at a median cost of $226,062, lower than the the United States average of $419,293.
The average cost of rent is $1,020/mo in Iowa, primarily driven by the current value of real estate in the Iowa area. In Iowa, 28.30% of households rent, and 40.40% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Iowa is $6,872 per month. Households that rent pay about 14.85% of their income on rent here. Iowa’s most expensive areas are in the central regions, while the cheapest areas are in the western parts of the state.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby States
States with Similar Populations
- Rhode Island: higher priced homes
- Mississippi: less expensive homes
- Montana: higher priced homes
- Nevada: higher priced homes
- New Hampshire: higher priced homes
- New Mexico: higher priced homes
- Ohio: equally priced homes
- Oklahoma: equally priced homes
- Puerto Rico: less expensive homes
- Alaska: higher priced homes
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