Home Values Heating Up in Iowa

At a time of low mortgage rates, see if homes in The Hawkeye State are a good deal.

Flags on a southern California street. Bill Chizek / Shutterstock

Thanks to low mortgage rates, it's an excellent time to buy or sell a home across the U.S. But what about in Iowa?

Is the state's housing market too pricey for buyers? Not-so-great if you've got a home you want to sell? Or just right — for everybody?

Home values provide some answers. They indicate that the market in Iowa is heating up, according to Zillow, though you might find vast differences from one city or one corner of the state to the next.

Current home values in Iowa

Home values have been rising throughout Iowa and are up 4.52% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $145,700 , Zillow says.

Could you afford that? Let's say you want to buy that mid-priced home using a 30-year fixed-rate mortgage at this week's average interest rate, which is a low 3.69%, says mortgage company Freddie Mac.

With the 30-year mortgage rate at 3.69% and the median home price for Iowa at $145,700 , a representative monthly mortgage payment would be $669.81.

How the Iowa housing market stacks up

Aerial image of single family homes in Bettendorf Iowa USA
Felix Mizioznikov / Shutterstock
Aerial image of single family homes in Bettendorf, Iowa

Property values in Iowa are high by historical standards and are lower than what the typical house is worth nationwide.

The median home value throughout the U.S. is $229,600, which is up 4.88% from a year ago.

Zillow predicts U.S. home values will rise 2.2% over the next year, while in Iowa, they're expected to rise 1.52%.

Homes are going on the market in Iowa at a median price of $117 per square foot, versus $155 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

Iowa home prices over the last 10 years

Year Avg. Price
2019* $145,800
2018 $140,433
2017 $134,842
2016 $128,575
2015 $123,775
2014 $119,008
2013 $115,658
2012 $112,442
2011 $110,917
2010 $112,600
2009 $111,825

*2019 price average through August 2019.

How much for an average-sized home?

Here's what a 2,500-square-foot home in Iowa is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2019* $292,500
2018 $282,500
2017 $275,000
2016 $260,000
2015 $252,500
2014 $240,000
2013 $232,500
2012 $225,000
2011 $220,000
2010 $225,000
2009 $222,500

*2019 price average through August 2019.