Red Oak, IA—51566
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Red Oak, IA
Red Oak, IA lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $135,000 | 6.1% |
| Single Family | $135,000 | 6.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $85,000 | 3.7% |
3 Bed | $150,000 | 6.4% |
4 Bed | $198,000 | 8.2% |
| 5 Bed | $264,000 | 5.2% |
% of Housing Stock
Rental Trends — Red Oak, IA
As of July '25, Rentcast reports the average rent in Red Oak, IA is $745, with a year-over-year rent change of 13.6%. Per bedroom, the median rent as of July '25 in Red Oak, IA is studios: $450, 1-bedrooms: $588, 2-bedrooms: $690, 3-bedrooms: $1,040. The most common rental property sizes in Red Oak, IA are 2-bedroom and 1-bedroom, accounting for 51.8% and 20.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $650 | $745 |
| Studio Rent | $450 | $450 |
| 1 Bed Rent | $550 | $588 |
| 2 Bed Rent | $650 | $690 |
| 3 Bed Rent | $1,060 | $1,040 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Red Oak, IA
As of Oct '25, Realtor.com reports that the median days on market for a home in Red Oak, IA is 68. This is a increase of 10.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $160,000 | -17.0% |
Listing Count | 52 | 40.0% |
| Listings as % of Homes | 0.5% | 40.0% |
Days on Market | 68 | 10.0% |
Demographics — Red Oak, IA
As of the latest ACS Survey released in 2023, Red Oak, IA has a population of 7,000, which has increased by 7.5% over the past 5 years. Red Oak, IA is a moderately popular place for families, as children make up 22.9% of the population. The area has a poorly educated workforce, with 18.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,000 | 7.5% |
% Under 18 | 22.9% | -3.0% |
% Seniors | 21.1% | -5.0% |
% WFH | 9.1% | 175.8% |
% w/ College Degree | 18.5% | 0.5% |
As of the latest ACS Survey released in 2023, Red Oak, IA is a predominantly white area, with 91.3% of the population identifying as white. The white population has shrunk by 0.1% in the last 5 years. The second most common race or ethnicity in Red Oak, IA is hispanic, making up 1.4% of the population. Foreign-born residents account for 1.7% of the population in Red Oak, IA, and this percentage has decreased by 22.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 91.3% | -0.1% |
% Black | 0.8% | ∞% |
% Hispanic | 1.4% | -75.0% |
% Asian | 1.0% | ∞% |
% Foreign Born | 1.7% | -22.7% |
Mortgage and Risk — Red Oak, IA
According to HUD data as of 2023, there were 132 mortgage originations in Red Oak, IA, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Red Oak, IA. Investor activity is low, as 6.0% 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 | 132 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Red Oak, IA
Red Oak, IA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 191 |
Total Units Section 8 | 141 |
% Rentals under Section 8 | 15.1% |
% Occupied Section 8 | 92.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $330 | $550 | $880 |
| 2 Bedroom | $410 | $650 | $1,060 |
| 3 Bedroom | $350 | $1,060 | $1,410 |
| 4 Bedroom | N/A | N/A | $1,560 |
Affordability — Red Oak, IA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2 |
| Median Home Price | $135,000 |
| Median Household Income | $58,300 |