Altoona, IA—50009
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Altoona, IA
As of Oct '25, the median home price in Altoona, IA is $319,000, with a year-over-year change of 1.3%. This indicates that home prices in Altoona, IA are increasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $319,000 | 1.3% |
| Single Family | $326,000 | 1.2% |
| Condos | $208,000 | 3.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $226,000 | 1.8% |
3 Bed | $307,000 | 1.7% |
4 Bed | $362,000 | 0.6% |
| 5 Bed | $438,000 | 0.0% |
% of Housing Stock
Rental Trends — Altoona, IA
As of July '25, Rentcast reports the average rent in Altoona, IA is $1,560, with a year-over-year rent change of -8.8%. Per bedroom, the median rent as of July '25 in Altoona, IA is studios: $859, 1-bedrooms: $1,240, 2-bedrooms: $1,460, 3-bedrooms: $1,580, 4-bedrooms: $2,430. The most common rental property sizes in Altoona, IA are 2-bedroom and 1-bedroom, accounting for 39.7% and 26.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,320 | $1,560 |
| Studio Rent | $916 | $859 |
| 1 Bed Rent | $909 | $1,240 |
| 2 Bed Rent | $1,640 | $1,460 |
| 3 Bed Rent | $1,400 | $1,580 |
| 4 Bed Rent | $2,440 | $2,430 |
% of Rental Stock
Property Listings — Altoona, IA
As of Oct '25, Realtor.com reports that the median days on market for a home in Altoona, IA is 63. This is a decrease of -12.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $359,000 | 1.0% |
Listing Count | 186 | 15.0% |
| Listings as % of Homes | 1.4% | 15.0% |
Days on Market | 63 | -12.0% |
Demographics — Altoona, IA
As of the latest ACS Survey released in 2023, Altoona, IA has a population of 22,000, which has increased by 12.4% over the past 5 years. Altoona, IA is a popular place for families, as children make up 25.5% of the population. The area has a moderately educated workforce, with 33.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,000 | 12.4% |
% Under 18 | 25.5% | -9.6% |
% Seniors | 15.4% | 27.3% |
% WFH | 13.1% | 244.7% |
% w/ College Degree | 33.2% | 6.8% |
As of the latest ACS Survey released in 2023, Altoona, IA is a predominantly white area, with 84.5% of the population identifying as white. The white population has shrunk by 9.9% in the last 5 years. The second most common race or ethnicity in Altoona, IA is hispanic, making up 6.8% of the population. Foreign-born residents account for 5.1% of the population in Altoona, IA, and this percentage has increased by 292.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.5% | -9.9% |
% Black | 3.3% | 266.7% |
% Hispanic | 6.8% | 126.7% |
% Asian | 1.5% | 150.0% |
% Foreign Born | 5.1% | 292.3% |
Mortgage and Risk — Altoona, IA
According to HUD data as of 2023, there were 558 mortgage originations in Altoona, IA, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Altoona, IA. Investor activity is low, as 4.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 558 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 4.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Altoona, IA
As of 2024, the percent of homes in Altoona, IA under the Section 8 program is 3.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Altoona, IA, because HUD payments exceed market rent, while 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 108 |
Total Units Section 8 | 108 |
% Rentals under Section 8 | 3.7% |
% Occupied Section 8 | 80.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $171 | $909 | $1,080 |
| 2 Bedroom | -$350 | $1,640 | $1,290 |
| 3 Bedroom | $330 | $1,400 | $1,730 |
| 4 Bedroom | -$700 | $2,440 | $1,740 |
Affordability — Altoona, IA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $319,000 |
| Median Household Income | $90,400 |