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Cedar Rapids, IA—52404

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$204,000
2.9% YoY Growth
Household Income
$62,300
18.6% YoY Growth
Days on Market
47
14.0% Longer YoY
Home Price Forecast
1.9%
Median Rent
$1,100
10.0% YoY Growth
1-Bed Rent
$700
13.4% YoY Growth
2-Bed Rent
$1,000
4.3% YoY Growth
3-Bed Rent
$1,400
4.2% YoY Growth

Other Zip Codes in Cedar Rapids, IA

5240152402524035241152405
  • 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 $204,000, with a year-over-year change of 2.9%. This indicates that home prices in Cedar Rapids, 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 TypeMedian Home ValueYoY % Change
All Homes
$204,0002.9%
Single Family $212,0001.9%
Condos $164,0003.1%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $76,000
    10.1%
    2 Bed
    		$161,0003.2%
    3 Bed
    		$214,0001.9%
    4 Bed
    		$294,0002.8%
    5 Bed $381,2833.4%
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    % of Housing Stock

    Studio
    1.8%
    1 Bedroom
    11.5%
    2 Bedrooms
    36.6%
    3 Bedrooms
    35.0%
    4 Bedrooms
    11.3%
    5+ Bedrooms
    3.8%

    Rental Trends — Cedar Rapids, IA

    As of July '25, Rentcast reports the average rent in Cedar Rapids, IA is $1,080, with a year-over-year rent change of -10.0%. Per bedroom, the median rent as of July '25 in Cedar Rapids, IA is studios: $710, 1-bedrooms: $782, 2-bedrooms: $1,110, 3-bedrooms: $1,380, 4-bedrooms: $1,200. The most common rental property sizes in Cedar Rapids, IA are 2-bedroom and 1-bedroom, accounting for 47.2% and 28.4% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,100$1,080
    Studio Rent $475$710
    1 Bed Rent $700$782
    2 Bed Rent $1,000$1,110
    3 Bed Rent $1,400$1,380
    4 Bed Rent $1,200$1,200
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    % of Rental Stock

    Studio
    5.4%
    1 Bedroom
    28.4%
    2 Bedrooms
    47.2%
    3 Bedrooms
    12.8%
    4 Bedrooms
    4.9%
    5+ Bedrooms
    1.3%

    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 47. This is a increase of 14.0% 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 9.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$280,0002.0%
    Listing Count
    		186-6.0%
    Listings as % of Homes0.6%-6.0%
    Days on Market
    		4714.0%
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    Demographics — Cedar Rapids, IA

    As of the latest ACS Survey released in 2023, Cedar Rapids, IA has a population of 42,600, which has increased by 8.4% over the past 5 years. Cedar Rapids, IA is a moderately popular place for families, as children make up 23.3% of the population. The area has a poorly educated workforce, with 22.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.0% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		42,6008.4%
    % Under 18
    		23.3%-3.3%
    % Seniors
    		13.3%0.8%
    % WFH
    		11.0%378.3%
    % w/ College Degree
    		22.5%-5.9%
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    As of the latest ACS Survey released in 2023, Cedar Rapids, IA is a predominantly white area, with 74.2% of the population identifying as white. The white population has shrunk by 7.3% in the last 5 years. The second most common race or ethnicity in Cedar Rapids, IA is black, making up 10.4% of the population. Foreign-born residents account for 7.8% of the population in Cedar Rapids, IA, and this percentage has increased by 73.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		74.2%-7.3%
    % Black
    		10.4%-7.1%
    % Hispanic
    		6.9%91.7%
    % Asian
    		0.8%-61.9%
    % Foreign Born
    		7.8%73.3%
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    Mortgage and Risk — Cedar Rapids, IA

    According to HUD data as of 2023, there were 920 mortgage originations in Cedar Rapids, IA, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in Cedar Rapids, IA. Investor activity is low, as 4.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		920
    % Conventional Loans
    		89.0%
    % Government Loans
    		11.0%
    % Investor Loans
    		4.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		9.0%
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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 12.6%. 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 4-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 2-bedroom and 3-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		746
    Total Units Section 8
    		746
    % Rentals under Section 8
    		12.6%
    % Occupied Section 8
    		76.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$120$700$820
    2 Bedroom-$20$1,000$980
    3 Bedroom-$20$1,400$1,380
    4 Bedroom$460$1,200$1,660

    Affordability — Cedar Rapids, IA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio2.9
    Median Home Price$204,000
    Median Household Income$62,300

    Cedar Rapids, IA — ZIP Code Boundary Map

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    Frequently Asked Questions