Cedar Rapids, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Cedar Rapids Neighborhoods Since 2000




Cedar Rapids, IA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Cedar Rapids Housing Market Information

With 130,405 people, 53,328 houses or apartments, and a median cost of homes of $140,103, Cedar Rapids real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Cedar Rapids, accounting for 63.19% of the city's housing units. Other types of housing that are prevalent in Cedar Rapids include large apartment complexes or high rise apartments ( 22.51%), duplexes, homes converted to apartments or other small apartment buildings ( 6.41%), and a few row houses and other attached homes ( 4.36%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cedar Rapids. Owner-occupied housing accounts for 67.17% of Cedar Rapids's homes, and 52.87% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cedar Rapids built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Cedar Rapids built between 1940-1969 ( 31.86%). A lesser amount of the housing stock also hails from before 1939 ( 16.51%). There's also some housing in Cedar Rapids built between 2000 and later ( 15.83%).

Cedar Rapids Home Appreciation Rates

Appreciation rates for homes in Cedar Rapids have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.07%, which ranks in the top 40% nationwide. This equates to an annual average Cedar Rapids house appreciation rate of 0.59%.

Over the last year, Cedar Rapids appreciation rates have trailed the rest of the nation. In the last twelve months, Cedar Rapids's appreciation rate has been 2.22%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cedar Rapids were at 0.60%, which equates to an annual appreciation rate of 2.41%.

Relative to Iowa, our data show that Cedar Rapids's latest annual appreciation rate is lower than 80% 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 2000, to assist you in making the best Cedar Rapids real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$140,103

Cedar Rapids, IA HOME PRICES

Value Range
> $1,052,000 0.3
$789,001 - $1,052,000 0.2
$526,001 - $789,000 0.7
$421,001 - $526,000 1.5
$315,001 - $421,000 3.9
$210,001 - $315,000 12.9
$105,001 - $210,000 54.8
$53,001 - $105,000 20.6
$0 - $53,000 4.9

High for IA
Average for Nation

Value Relative to Nation Value Relative to State
54.6788937067854 38.2716049382716

Number Of Homes And Apartments:
53,328

Cedar Rapids Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
25.15% 1.31% 1 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$892 / per month

Homeownership Rate

Homeownership
Owners 67.17
Renters 32.83
Vacant 8.07

Housing Market Details

 

Age of Homes

AGE OF Cedar Rapids HOMES
2000 or Newer 15.8
1970 - 1999 35.8
1940 - 1969 31.9
1939 or Older 16.5

Types of Homes

TYPE OF Cedar Rapids HOMES
Single-Family 63.2
Townhomes 4.4
Small Apt. Buildings 6.4
Apt. Complexes 22.5
Mobile Homes 3.5
Other 0.0

Home Size

SIZE OF Cedar Rapids HOMES
No Bedroom 2.14
1 Bedroom 11.37
2 Bedrooms 29.37
3 Bedrooms 37.75
4 Bedrooms 15.12
5 or more bedrooms 4.25