Cedar Rapids
Iowa · Ranked #45 of 373 metros
90Affordable
💡
Housing in Cedar Rapids costs 3.02× the median income, below the national average of 4.5×. The median home price is $222K and median rent is $922/month. Cedar Rapids ranks #45 of 373 metros for affordability.
Median Home Price
🏠$222K
Need $66K income
Median Rent
🔑$922
Need $37K income
Building Permits
🔨1,087
annual
Median Income
💰$74K
Pop: 289,844
Rent Burden
⚠️19.3%
of renters paying >30%
Homeownership
🏡74.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Cedar Rapids | National |
|---|---|---|
| Price-to-Income Ratio | 3.02x | 6.1x |
| Rent Burden | 19.3% | 31.5% |
| Homeownership Rate | 74.0% | 65.5% |
| YoY Rent Change | 0% | +2.8% |
| Mortgage Denial Rate | 0.0% | 13.5% |
| Eviction Rate | 0.0% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +44.3%Since 2000: +106.2%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$738/mo
1 Bedroom$816/mo
2 Bedroom$1,071/mo
3 Bedroom$1,490/mo
4 Bedroom$1,797/mo
Zillow Market Data
Home Value (ZHVI)
$233K
1yr: +3.3%5yr: +31.0%
Rent (ZORI)
$1,115/mo
1yr: +7.9%5yr: +31.9%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.
Redfin Market Activity
Median Sale Price
$200K
Active Inventory
111
Days on Market
68
Sold Above List
14.6%
Price Drops
20.7%