Storm Lake, IA—50588
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Storm Lake, IA
As of Nov '25, the median home price in Storm Lake, IA is $189,000, with a year-over-year change of 2.3%. This indicates that home prices in Storm Lake, IA are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $189,000 | 2.3% |
| Single Family | $188,000 | 1.6% |
| Condos | $208,000 | 4.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $141,000 | 1.4% |
3 Bed | $183,000 | 2.2% |
4 Bed | $237,000 | 2.2% |
| 5 Bed | $268,462 | 2.1% |
% of Housing Stock
Rental Trends — Storm Lake, IA
As of July '25, Rentcast reports the average rent in Storm Lake, IA is $1,090, with a year-over-year rent change of 33.4%. Per bedroom, the median rent as of July '25 in Storm Lake, IA is 1-bedrooms: $774, 2-bedrooms: $911, 3-bedrooms: $1,310. The most common rental property sizes in Storm Lake, IA are 1-bedroom and 2-bedroom, accounting for 42.8% and 26.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $925 | $1,090 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $750 | $774 |
| 2 Bed Rent | $925 | $911 |
| 3 Bed Rent | $1,340 | $1,310 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Storm Lake, IA
As of Nov '25, Realtor.com reports that the median days on market for a home in Storm Lake, IA is 106. This is a increase of 71.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $274,000 | 8.0% |
Listing Count | 43 | 60.0% |
| Listings as % of Homes | 0.4% | 60.0% |
Days on Market | 106 | 71.0% |
Demographics — Storm Lake, IA
As of the latest ACS Survey released in 2023, Storm Lake, IA has a population of 13,300, which has increased by 6.7% over the past 5 years. Storm Lake, IA is a popular place for families, as children make up 27.3% of the population. The area has a poorly educated workforce, with 23.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,300 | 6.7% |
% Under 18 | 27.3% | 4.6% |
% Seniors | 14.7% | 26.7% |
% WFH | 6.2% | 47.6% |
% w/ College Degree | 23.1% | 19.7% |
As of the latest ACS Survey released in 2023, Storm Lake, IA is a predominantly white area, with 41.5% of the population identifying as white. The white population has shrunk by 5.9% in the last 5 years. The second most common race or ethnicity in Storm Lake, IA is hispanic, making up 37.0% of the population. Foreign-born residents account for 27.7% of the population in Storm Lake, IA, and this percentage has increased by 3.4% 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 | 41.5% | -5.9% |
% Black | 3.2% | -11.1% |
% Hispanic | 37.0% | 8.2% |
% Asian | 12.7% | -25.3% |
% Foreign Born | 27.7% | 3.4% |
Mortgage and Risk — Storm Lake, IA
According to HUD data as of 2023, there were 103 mortgage originations in Storm Lake, IA, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in Storm Lake, 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 | 103 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 12.0% |
Rentals and Section 8 — Storm Lake, IA
Storm Lake, IA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 169 |
Total Units Section 8 | 169 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$20 | $750 | $730 |
| 2 Bedroom | $25 | $925 | $950 |
| 3 Bedroom | -$170 | $1,340 | $1,170 |
| 4 Bedroom | N/A | N/A | $1,260 |
Affordability — Storm Lake, IA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $189,000 |
| Median Household Income | $65,500 |