Carter Lake, IA—51510
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Carter Lake, IA
As of Oct '25, the median home price in Carter Lake, IA is $201,000, with a year-over-year change of 2.9%. This indicates that home prices in Carter Lake, IA are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $201,000 | 2.9% |
| Single Family | $201,000 | 2.6% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $180,000 | 3.4% |
3 Bed | $200,000 | 2.6% |
4 Bed | $293,000 | 1.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Carter Lake, IA
As of July '25, Rentcast reports the average rent in Carter Lake, IA is $1,350, with a year-over-year rent change of -17.2%. Per bedroom, the median rent as of July '25 in Carter Lake, IA is 2-bedrooms: $1,240, 3-bedrooms: $1,410. The most common rental property sizes in Carter Lake, IA are 3-bedroom and 2-bedroom, accounting for 52.3% and 29.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,350 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,200 | $1,240 |
| 3 Bed Rent | $1,400 | $1,410 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Carter Lake, IA
As of Oct '25, Realtor.com reports that the median days on market for a home in Carter Lake, IA is 26. This is a increase of 69.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $245,000 | -24.0% |
Listing Count | 12 | 9.0% |
| Listings as % of Homes | 0.3% | 9.0% |
Days on Market | 26 | 69.0% |
Demographics — Carter Lake, IA
As of the latest ACS Survey released in 2023, Carter Lake, IA has a population of 3,770, which has remained stable by -0.5% over the past 5 years. Carter Lake, IA is a popular place for families, as children make up 25.3% of the population. The area has a poorly educated workforce, with 12.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,770 | -0.5% |
% Under 18 | 25.3% | -18.6% |
% Seniors | 15.3% | 14.2% |
% WFH | 10.8% | 800.0% |
% w/ College Degree | 12.9% | -34.5% |
As of the latest ACS Survey released in 2023, Carter Lake, IA is a predominantly white area, with 75.3% of the population identifying as white. The white population has shrunk by 12.8% in the last 5 years. The second most common race or ethnicity in Carter Lake, IA is hispanic, making up 19.9% of the population. Foreign-born residents account for 8.1% of the population in Carter Lake, IA, and this percentage has increased by 211.5% 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 | 75.3% | -12.8% |
% Black | 0.6% | -71.4% |
% Hispanic | 19.9% | 142.7% |
% Asian | 0.6% | 100.0% |
% Foreign Born | 8.1% | 211.5% |
Mortgage and Risk — Carter Lake, IA
According to HUD data as of 2023, there were 77 mortgage originations in Carter Lake, IA, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Carter Lake, IA. Investor activity is low, as 8.0% of loans were by investors. 23.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 77 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 8.0% |
% Second Loans | 6.0% |
% Cash Out Refinance | 23.0% |
Loan Activity
Rentals and Section 8 — Carter Lake, IA
Carter Lake, IA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 45 |
Total Units Section 8 | 45 |
% Rentals under Section 8 | 20.2% |
% Occupied Section 8 | 94.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,030 |
| 2 Bedroom | $40 | $1,200 | $1,240 |
| 3 Bedroom | $250 | $1,400 | $1,650 |
| 4 Bedroom | N/A | N/A | $1,830 |
Affordability — Carter Lake, IA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.3 |
| Median Home Price | $201,000 |
| Median Household Income | $75,000 |