Iowa Residential Rent and Rental Statistics
The median monthly gross residential rent in Iowa was $808 in 2019 according to the Census ACS survey.1 Average gross rent was $808 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Iowa median and average rent data will be released in September of 2021.
Data is also available below for Iowa rental vacancy rates, Iowa rent as a percent of median income and the fraction of renters in Iowa.
Real Gross Rent in Iowa (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Iowa Median Gross Rent | $808 | +2.15% | +4.12% |
Iowa Real Gross Rent Trends
At $808, real median gross rent in Iowa was at its highest level in 2019 since the series began in 2005. At $808, real average gross rent in Iowa was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Iowa: Median, Average, US Median
Real Gross Rent History for Iowa
| Date | US Median | Iowa Median | Iowa Average |
|---|---|---|---|
| 2019 | $1,097 | $808 | $808 |
| 2018 | $1,077 | $791 | $797 |
| 2017 | $1,043 | $784 | $791 |
| 2016 | $1,027 | $776 | $779 |
| 2015 | $1,017 | $762 | $773 |
| 2014 | $986 | $751 | $754 |
| 2013 | $953 | $715 | $733 |
| 2012 | $940 | $703 | $715 |
| 2011 | $941 | $694 | $701 |
| 2010 | $955 | $703 | $710 |
| 2009 | $960 | $696 | $692 |
| 2007 | $927 | $666 | $656 |
| 2005 | $910 | $699 | $681 |
Iowa Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Iowa was 6.21% according to Census ACS data.
Rental Vacancy Rate in Iowa
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Iowa | 6.21% | -0.67% | -0.03% |
Trends in Iowa Rental Vacancy Rate
The rental vacancy rate in Iowa peaked in 2007 at 7.54%. Since then it has fallen by 1.33% to 6.21%. Data records for this series originated in 2005. From a 2014 post peak low of 5.47%, the rental vacancy rate has increased by 0.74%.
Rental Vacancy Rate: Iowa, US
Historical Rental Vacancy Rate data for Iowa
| Date | US | Iowa |
|---|---|---|
| 2019 | 5.97% | 6.21% |
| 2018 | 6.15% | 6.88% |
| 2017 | 6.18% | 7.31% |
| 2016 | 5.89% | 6.24% |
| 2015 | 5.85% | 6.41% |
| 2014 | 6.32% | 5.47% |
| 2013 | 6.49% | 6.03% |
| 2012 | 6.77% | 6.77% |
| 2011 | 7.40% | 6.64% |
| 2010 | 8.17% | 6.38% |
| 2009 | 8.43% | 5.97% |
| 2007 | 7.87% | 7.54% |
| 2005 | 7.74% | 7.17% |
Iowa Rent as a Fraction of Income
Using median household income data for Iowa, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Iowa, median monthly gross rent as a fraction of median household income was 15.72% in 2019 according to the ACS.
Iowa Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Iowa | 15.72% | +0.17% | -0.09% |
Trends in Iowa Rent as a Fraction of Income
The fraction of median Iowa household income required to pay median monthly gross rent peaked in 2014 (relative to the 2005 series origin) at 15.88%. Since then it has fallen by 0.17% to 15.72%.
Fraction of Income towards Rent: Iowa, US
Historical Data for Annual Rent as a Fraction of Income in Iowa
| Date | US | Iowa |
|---|---|---|
| 2019 | 20.03% | 15.72% |
| 2018 | 20.50% | 15.55% |
| 2017 | 20.13% | 15.57% |
| 2016 | 20.43% | 15.81% |
| 2015 | 20.63% | 15.74% |
| 2014 | 20.89% | 15.88% |
| 2013 | 20.78% | 15.60% |
| 2012 | 20.65% | 15.57% |
| 2011 | 20.70% | 15.61% |
| 2010 | 20.50% | 15.74% |
| 2009 | 20.12% | 15.26% |
| 2007 | 18.66% | 14.39% |
| 2005 | 18.89% | 15.38% |
Renter Fraction in Iowa
You can calculate the renter fraction in Iowa in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Iowa as a fraction of total Iowa households. In 2019 29.47% of households were renters according to Census ACS data.
Iowa Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Iowa | 29.47% | +0.75% | +0.10% |
Trends in the Iowa Renter Fraction
At 29.47%, the 2019 household based renter fraction in Iowa was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Iowa, US
History of Iowa Renter Fraction
| Date | US | Iowa |
|---|---|---|
| 2019 | 35.89% | 29.47% |
| 2018 | 36.05% | 28.72% |
| 2017 | 36.13% | 28.40% |
| 2016 | 36.88% | 29.37% |
| 2015 | 36.97% | 29.33% |
| 2014 | 36.90% | 29.13% |
| 2013 | 36.50% | 29.19% |
| 2012 | 36.09% | 28.07% |
| 2011 | 35.42% | 27.65% |
| 2010 | 34.65% | 27.64% |
| 2009 | 34.13% | 27.92% |
| 2007 | 32.80% | 26.31% |
| 2005 | 33.10% | 26.90% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
