Iowa City, IA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Iowa City, 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 Q4 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Iowa City Housing Market Information

With a population of 75,798, 29,697 total housing units (homes and apartments), and a median house value of $252,593, Iowa City real estate is some of the most expensive in Iowa, although Iowa City home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Iowa City, accounting for 42.48% of the city's housing units. Other types of housing that are prevalent in Iowa City include large apartment complexes or high rise apartments ( 37.25%), row houses and other attached homes ( 9.75%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.34%).

People in Iowa City primarily live in small (one, two or no bedroom) single-family detached homes. Iowa City has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Iowa City 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 Iowa City built between 1940-1969 ( 21.56%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.55%). There's also some housing in Iowa City built before 1939 ( 13.93%).

Iowa City Home Appreciation Rates

Appreciation rates for homes in Iowa City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 28.41%, which ranks in the top 30% nationwide. This equates to an annual average Iowa City house appreciation rate of 2.53%.

Over the last year, Iowa City appreciation rates have trailed the rest of the nation. In the last twelve months, Iowa City's appreciation rate has been 5.58%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Iowa City were at 2.71%, which equates to an annual appreciation rate of 11.27%.

Importantly, this makes Iowa City one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Iowa, our data show that Iowa City's latest annual appreciation rate is higher than 90% 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 Iowa City differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Iowa City - 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 Iowa City real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$252,593

Iowa City, IA HOME PRICES

Value Range
> $1,150,000 1.0
$863,001 - $1,150,000 1.7
$575,001 - $863,000 5.7
$460,001 - $575,000 6.1
$345,001 - $460,000 11.5
$230,001 - $345,000 30.6
$115,001 - $230,000 30.9
$58,001 - $115,000 7.6
$0 - $58,000 4.7

Very High for IA
High for Nation

Value Relative to Nation Value Relative to State
26.2832116788321 6.66666666666667

Number Of Homes And Apartments:
29,697

Iowa City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2018 Q3 - 2018 Q4
Last 12 Months:
2017 Q4 - 2018 Q4
Last 2 Years:
2016 Q4 - 2018 Q4
Last 5 Years:
2013 Q4 - 2018 Q4
Last 10 Years:
2008 Q4 - 2018 Q4
Since 2000:
2000 Q1 - 2018 Q4
64.46% 2.62%
6
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,110 / per month

Homeownership Rate

Homeownership
Owners 43.19
Renters 56.81
Vacant 6.23

Housing Market Details

 

Age of Homes

AGE OF Iowa City HOMES
2000 or Newer 19.5
1970 - 1999 45.0
1940 - 1969 21.6
1939 or Older 13.9

Types of Homes

TYPE OF Iowa City HOMES
Single-Family 42.5
Townhomes 9.8
Small Apt. Buildings 8.3
Apt. Complexes 37.3
Mobile Homes 2.2
Other 0.0

Home Size

SIZE OF Iowa City HOMES
No Bedroom 3.15
1 Bedroom 12.22
2 Bedrooms 33.95
3 Bedrooms 28.56
4 Bedrooms 16.50
5 or more bedrooms 5.62