Iowa
Ranked #2 of 51 for housing affordability
Median Home Price
🏠$213K
2.99x income
Median Rent
🔑$949
26.0% rent-burdened
Median Income
💰$71K
Population: 3,200,517
Homeownership
🏡72.0%
2,747 experiencing homelessness
Housing Shortage
📉25,000
units needed
Building Permits (2024)
🔨12,544
Price-to-Income
📊2.99x
Severe Rent Burden
⚠️11.5%
paying >50% of income
Rent Burden Breakdown
vs. National Average
House Price Index (2000–2025)
FHFA All-Transactions HPI · Base = 100 (1980s)
HUD Fair Market Rents (FY2026)
Maximum rent HUD considers fair for Section 8 voucher holders
FMR ($1097) is above the state median rent ($949) — vouchers cover typical rents.
Metros in Iowa
| Metro | Score | Home Price | Rent | Income | Rent Burden |
|---|---|---|---|---|---|
| Des Moines | 70 | $277K | $1,137 | $83K | 26.5% |
| Davenport-Moline-Rock Island | 95 | $177K | $919 | $71K | 21.3% |
| Cedar Rapids | 90 | $222K | $922 | $74K | 19.3% |
| Iowa City | 79 | $299K | $1,072 | $72K | 32.1% |
| Waterloo-Cedar Falls | 90 | $190K | $929 | $62K | 20.8% |
| Sioux City | 93 | $192K | $1,019 | $71K | 20.3% |
| Ames | 86 | $246K | $981 | $72K | 23.9% |
| Dubuque | 88 | $232K | $868 | $72K | 21.2% |
Market Trends
Homeownership Rate
72.0%
Rent-to-Income Ratio
16.0%
of gross income spent on rent
Total Households
1,337,243
Owner-Occupied
959,743
Renter-Occupied
377,500
Homelessness
Latest Count (2024)
2,631
1-Year Change
-0.8%
10-Year Trend (2015–2024)
-14.6%
3,081 → 2,631
Housing Policies
Construction Activity
Total Permits (2024)
12,544
0.9% of national total
Single-Family
7,780
62% of state permits
Multi-Family
4,764
38% of state permits
Mortgage Access
National HMDA data — mortgage denial rates by race/ethnicity
Denial Rates by Race
Top Denial Reasons
Housing Shortage
State Shortage
25,000
units needed
National Shortage
7,300,000
0.3% of national total
Affordable Units per 100 ELI Renters
35
nationally (NLIHC)
National Shortage by Unit Type
45%
Single-Family
18%
Small Multi (2-4)
22%
Medium Multi (5-49)
15%
Large Multi (50+)
Rent Burden Detail
Iowa burden rates with national demographic breakdown
Cost-Burdened Renters
26.0%
paying >30% of income
Severely Burdened
11.5%
paying >50% of income
Households >30% Burden
76,403
Households >35% Burden
29,390