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Cedar Rapids, IA—52403

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$210,000
1.6% YoY Growth
Household Income
$73,800
18.1% YoY Growth
Days on Market
45
16.0% Shorter YoY
Home Price Forecast
0.9%
Median Rent
$799
6.0% YoY Growth
1-Bed Rent
$650
6.3% YoY Growth
2-Bed Rent
$900
9.1% YoY Growth
3-Bed Rent
$1,400
6.7% YoY Growth

Other Zip Codes in Cedar Rapids, IA

5240152402524115240552404
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Cedar Rapids, IA

As of May '26, the median home price in Cedar Rapids, IA is $210,000, with a year-over-year change of 1.6%. This indicates that home prices in Cedar Rapids, IA are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$210,0001.6%
Single Family $218,0001.4%
Condos $138,000-6.8%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $126,000
    1.6%
    2 Bed
    		$149,0000.0%
    3 Bed
    		$211,0001.4%
    4 Bed
    		$305,0001.7%
    5 Bed $456,7632.7%
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    % of Housing Stock

    Studio
    0.8%
    1 Bedroom
    10.9%
    2 Bedrooms
    24.1%
    3 Bedrooms
    39.6%
    4 Bedrooms
    19.4%
    5+ Bedrooms
    5.2%

    Rental Trends — Cedar Rapids, IA

    As of July '25, Rentcast reports the average rent in Cedar Rapids, IA is $1,020, with a year-over-year rent change of 6.0%. Per bedroom, the median rent as of July '25 in Cedar Rapids, IA is studios: $780, 1-bedrooms: $708, 2-bedrooms: $1,020, 3-bedrooms: $1,390, 4-bedrooms: $2,020. The most common rental property sizes in Cedar Rapids, IA are 2-bedroom and 1-bedroom, accounting for 41.4% and 37.0% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$799$1,020
    Studio Rent $780$780
    1 Bed Rent $650$708
    2 Bed Rent $900$1,020
    3 Bed Rent $1,400$1,390
    4 Bed Rent $1,800$2,020
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    % of Rental Stock

    Studio
    1.6%
    1 Bedroom
    37.0%
    2 Bedrooms
    41.4%
    3 Bedrooms
    15.7%
    4 Bedrooms
    4.2%

    Property Listings — Cedar Rapids, IA

    As of May '26, Realtor.com reports that the median days on market for a home in Cedar Rapids, IA is 45. This is a decrease of -16.0% 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 10.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$247,000-2.0%
    Listing Count
    		125-3.0%
    Listings as % of Homes1.1%-3.0%
    Days on Market
    		45-16.0%
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    Demographics — Cedar Rapids, IA

    As of the latest ACS Survey released in 2023, Cedar Rapids, IA has a population of 23,000, which has remained stable by 0.2% over the past 5 years. Cedar Rapids, IA is a moderately popular place for families, as children make up 21.2% of the population. The area has a moderately educated workforce, with 40.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 16.0% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		23,0000.2%
    % Under 18
    		21.2%1.4%
    % Seniors
    		23.7%28.1%
    % WFH
    		16.0%566.7%
    % w/ College Degree
    		40.5%18.4%
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    As of the latest ACS Survey released in 2023, Cedar Rapids, IA is a predominantly white area, with 84.5% of the population identifying as white. The white population has grown by 0.6% in the last 5 years. The second most common race or ethnicity in Cedar Rapids, IA is black, making up 6.8% of the population. Foreign-born residents account for 2.8% of the population in Cedar Rapids, IA, and this percentage has decreased by 6.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		84.5%0.6%
    % Black
    		6.8%-1.4%
    % Hispanic
    		3.3%-8.3%
    % Asian
    		0.4%-76.5%
    % Foreign Born
    		2.8%-6.7%
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    Mortgage and Risk — Cedar Rapids, IA

    According to HUD data as of 2023, there were 531 mortgage originations in Cedar Rapids, IA, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 60.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Cedar Rapids, IA. Investor activity is low, as 5.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		531
    % Conventional Loans
    		87.0%
    % Government Loans
    		13.0%
    % Investor Loans
    		5.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		8.0%
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    Rentals and Section 8 — Cedar Rapids, IA

    As of 2024, the percent of homes in Cedar Rapids, IA under the Section 8 program is 12.3%. 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 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Cedar Rapids, IA, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		344
    Total Units Section 8
    		292
    % Rentals under Section 8
    		12.3%
    % Occupied Section 8
    		79.5%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$100$650$750
    2 Bedroom$90$900$990
    3 Bedroom-$10$1,400$1,390
    4 Bedroom-$140$1,800$1,660

    Affordability — Cedar Rapids, IA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.6
    Median Home Price$210,000
    Median Household Income$73,800

    Cedar Rapids, IA — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Ely, IA

    52227

    Cedar Rapids, IA

    52401

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    52402

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    Cedar Rapids, IA

    52404

    Frequently Asked Questions