Underwood, IA—51576
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Underwood, IA
As of Oct '25, the median home price in Underwood, IA is $371,000, with a year-over-year change of 4.0%. This indicates that home prices in Underwood, 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 | $371,000 | 4.0% |
| Single Family | $370,000 | 4.2% |
| 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 | $363,000 | 4.0% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Underwood, IA
Underwood, 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 — Underwood, IA
As of Oct '25, Realtor.com reports that the median days on market for a home in Underwood, IA is 79. This is a increase of 233.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,200,000 | 208.0% |
Listing Count | 3 | 11.0% |
| Listings as % of Homes | 0.3% | 11.0% |
Days on Market | 79 | 233.0% |
Demographics — Underwood, IA
As of the latest ACS Survey released in 2023, Underwood, IA has a population of 1,890, which has decreased by -9.1% over the past 5 years. Underwood, IA is a popular place for families, as children make up 25.1% of the population. The area has a moderately educated workforce, with 32.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,890 | -9.1% |
% Under 18 | 25.1% | -9.4% |
% Seniors | 13.9% | 3.0% |
% WFH | 7.0% | 59.1% |
% w/ College Degree | 32.3% | -2.4% |
As of the latest ACS Survey released in 2023, Underwood, IA is a predominantly white area, with 88.8% of the population identifying as white. The white population has shrunk by 7.8% in the last 5 years. The second most common race or ethnicity in Underwood, IA is hispanic, making up 4.2% of the population. Foreign-born residents account for 1.6% of the population in Underwood, IA, and this percentage has increased by 433.3% 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 | 88.8% | -7.8% |
% Black | 0.8% | ∞% |
% Hispanic | 4.2% | 50.0% |
% Asian | 0.5% | ∞% |
% Foreign Born | 1.6% | 433.3% |
Mortgage and Risk — Underwood, IA
According to HUD data as of 2023, there were 51 mortgage originations in Underwood, IA, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Underwood, IA. Investor activity is low, as 6.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 51 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Underwood, IA
Underwood, IA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 20 |
Total Units Section 8 | 20 |
% Rentals under Section 8 | 30.0% |
% Occupied Section 8 | 94.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $880 |
| 2 Bedroom | N/A | N/A | $1,060 |
| 3 Bedroom | N/A | N/A | $1,410 |
| 4 Bedroom | N/A | N/A | $1,560 |
Affordability — Underwood, IA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $371,000 |
| Median Household Income | $108,000 |