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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (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 76,290, 29,975 total housing units (homes and apartments), and a median house value of $256,606, 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 42.33% of the city's housing units. Other types of housing that are prevalent in Iowa City include large apartment complexes or high rise apartments ( 37.41%), row houses and other attached homes ( 9.83%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.89%).

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 2000 and later ( 21.49%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.08%). There's also some housing in Iowa City built before 1939 ( 13.94%).

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 30.38%, which ranks in the top 50% nationwide. This equates to an annual average Iowa City house appreciation rate of 2.69%.

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 3.01%, 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 0.68%, which equates to an annual appreciation rate of 2.77%.

Relative to Iowa, our data show that Iowa City's latest annual appreciation rate is lower than 70% 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:
$256,606

Iowa City, IA HOME PRICES

Value Range
> $1,143,000 1.3
$857,001 - $1,143,000 2.3
$572,001 - $857,000 5.4
$458,001 - $572,000 7.0
$343,001 - $458,000 10.7
$229,001 - $343,000 30.4
$114,001 - $229,000 31.7
$57,001 - $114,000 6.5
$0 - $57,000 4.7

Very High for IA
High for Nation

Value Relative to Nation Value Relative to State
28.0116788321168 6.41975308641975

Number Of Homes And Apartments:
29,975

Iowa City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IA*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
69.49% 2.61%
6
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,159 / per month

Homeownership Rate

Homeownership
Owners 48.74
Renters 51.26
Vacant 7.31

Housing Market Details

 

Age of Homes

AGE OF Iowa City HOMES
2000 or Newer 21.5
1970 - 1999 44.5
1940 - 1969 20.1
1939 or Older 13.9

Types of Homes

TYPE OF Iowa City HOMES
Single-Family 42.3
Townhomes 9.8
Small Apt. Buildings 7.9
Apt. Complexes 37.4
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Iowa City HOMES
No Bedroom 3.55
1 Bedroom 13.01
2 Bedrooms 33.53
3 Bedrooms 28.55
4 Bedrooms 16.44
5 or more bedrooms 4.93