Cedar Rapids appreciation rates and housing market information

Cedar Rapids housing market information

With a population of 120,563, 52,169 total housing units (homes and apartments), and a median house value of $136,800, house prices in Cedar Rapids are solidly below the national average.

single-family detached homes are the single most common housing type in Cedar Rapids, accounting for 66.26% of the city's housing units. Other types of housing that are prevalent in Cedar Rapids include large apartment complexes or high rise apartments (19.30%), duplexes, homes converted to apartments, or other small apartment buildings (7.94%), mobile homes or trailers (4.41%), and a few row houses and other attached homes (2.10%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Cedar Rapids. Owner-occupied housing accounts for 65.96% of Cedar Rapids's homes, and 54.44% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Cedar Rapids's housing was primarily built during this period, from the '40s through the '60s. A full 38.01% of the city's housing hails from this era. Other housing ages represented in Cedar Rapids include homes built between 1970-1994 (31.28%), and housing constructed from 1939 and earlier (22.08%). There's also some housing in Cedar Rapids built between 1995 and later (8.63%).

Cedar Rapids home appreciation rates

Cedar Rapids's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cedar Rapids during the period has been just 4.92%, which is lower than % of US communities.

NeighborhoodScout's data show that during the latest twelve months, Cedar Rapids home appreciation rates, at 1.85%, have been at or slightly above the national average. In the latest quarter, Cedar Rapids's appreciation rate has been -0.06%, which annualizes to a rate of -0.24%.

Relative to Iowa, our data show that Cedar Rapids's latest annual appreciation rate is higher than 16% of the other cities and towns in Iowa.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Cedar Rapids differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Cedar Rapids - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Cedar Rapids real estate investment or home purchase decisions.