Correctionville, IA—51016
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Correctionville, IA
As of Oct '25, the median home price in Correctionville, IA is $174,000, with a year-over-year change of 3.3%. This indicates that home prices in Correctionville, IA are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $174,000 | 3.3% |
| Single Family | $173,000 | 3.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Correctionville, IA
Correctionville, IA lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | N/A | N/A |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Correctionville, IA
As of Oct '25, Realtor.com reports that the median days on market for a home in Correctionville, IA is 77. This is a decrease of -19.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $139,000 | 14.0% |
Listing Count | 7 | 20.0% |
| Listings as % of Homes | 0.2% | 20.0% |
Days on Market | 77 | -19.0% |
Demographics — Correctionville, IA
As of the latest ACS Survey released in 2023, Correctionville, IA has a population of 1,100, which has decreased by -12.2% over the past 5 years. Correctionville, IA is a popular place for families, as children make up 32.9% of the population. The area has a poorly educated workforce, with 19.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,100 | -12.2% |
% Under 18 | 32.9% | 46.2% |
% Seniors | 19.7% | -29.1% |
% WFH | 13.2% | 10.0% |
% w/ College Degree | 19.8% | 38.5% |
As of the latest ACS Survey released in 2023, Correctionville, IA is a predominantly white area, with 82.6% of the population identifying as white. The white population has shrunk by 13.1% in the last 5 years. The second most common race or ethnicity in Correctionville, IA is hispanic, making up 14.7% of the population. Foreign-born residents account for 3.4% of the population in Correctionville, IA, and this percentage has increased by 47.8% 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 | 82.6% | -13.1% |
% Black | 0.5% | ∞% |
% Hispanic | 14.7% | 267.5% |
% Asian | 0.7% | ∞% |
% Foreign Born | 3.4% | 47.8% |
Mortgage and Risk — Correctionville, IA
According to HUD data as of 2023, there were 52 mortgage originations in Correctionville, IA, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Correctionville, IA. Investor activity is low, as 2.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 52 |
% Conventional Loans | 87.0% |
% Government Loans | 13.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Correctionville, IA
Correctionville, IA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 3.3% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $710 |
| 2 Bedroom | N/A | N/A | $910 |
| 3 Bedroom | N/A | N/A | $1,110 |
| 4 Bedroom | N/A | N/A | $1,320 |
Affordability — Correctionville, IA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $174,000 |
| Median Household Income | $52,800 |