Cedar Rapids, IA—52404
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Cedar Rapids, IA
As of Oct '25, the median home price in Cedar Rapids, IA is $193,000, with a year-over-year change of 4.8%. This indicates that home prices in Cedar Rapids, IA are increasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $193,000 | 4.8% |
| Single Family | $202,000 | 5.2% |
| Condos | $146,000 | 5.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $74,000 | 5.7% |
2 Bed | $149,000 | 5.7% |
3 Bed | $204,000 | 5.2% |
4 Bed | $279,000 | 3.0% |
| 5 Bed | $366,000 | 1.4% |
% of Housing Stock
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.
| Type | Median Rent | Average 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 |
% of Rental Stock
Property Listings — Cedar Rapids, IA
As of Oct '25, Realtor.com reports that the median days on market for a home in Cedar Rapids, IA is 45. This is a increase of 18.0% 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 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $225,000 | -10.0% |
Listing Count | 189 | 12.0% |
| Listings as % of Homes | 0.6% | 12.0% |
Days on Market | 45 | 18.0% |
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.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 42,600 | 8.4% |
% Under 18 | 23.3% | -3.3% |
% Seniors | 13.3% | 0.8% |
% WFH | 11.0% | 378.3% |
% w/ College Degree | 22.5% | -5.9% |
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
| Metric | Latest Census | 5-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% |
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
| Metric | Zip 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% |
Loan Activity
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 Size | HUD Premium | Market Rent | Max 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
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.7 |
| Median Home Price | $193,000 |
| Median Household Income | $62,300 |