How Does the Price of Your House Stack Up Against Others in Iowa?

The housing market is always a topic of discussion. I'm a renter, and enjoy the perks of renting, however, I do find myself keeping an eye on home values in Dubuque and the community around me.

Several Iowa transplants (who moved from Illinois, like myself) have told me that Iowa housing prices are among the most affordable and competitive in the country, and data seems to back that up. On top of a new study from Agent Advice, which looked at some of the most affordable states in which to save for a home, I also browsed Zillow for details on median home prices in the state of Iowa.

Iowa Home Values Are in A Good Space:

According to Zillow, the average Iowa home value is just over $208,000, up 3.8% over the past year. This is based on the Zillow Home Value Index (ZHVI), which measures monthly changes in property level "Zestimates" on the website, and incorporates both the level and home values across geographies and housing types.

Over the past year, there have been over 7,800 Iowa home listings on Zillow. The median sale price for these homes is just a little over $198,000, down about $28,000 from the media list price. Almost two-thirds of homes (64.7%) sell for below list price.

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Dubuque is Among the Fastest Growing Iowa Cities:

Looking at Redfin data, Dubuque is one of the fastest growing metros in all of Iowa at about a 30% clip. Marion, IA is overwhelmingly #1 with 50.5% growth. Rounding out the top five are Waterloo, Davenport, and Council Bluffs at 25% or less.

When it comes to saving for a home, Iowa ranks quite favorably too. Agent Advice's study looked at where in the United States is the most affordable to save for a home. Iowa took the second spot on the list, behind West Virginia:

With a median household income of $69,588 and a typical home value of $205,375, Iowa’s income-price ratio comes in at 2.95.  Offering higher salary opportunities compared to West Virginia, Iowa maintains affordability with the seventh lowest typical house costs in the US – making it a great place to save for a home efficiently. - Agent Advice

Amazing Homes in Dubuque and the Tri-State Area:

Back to Redfin: while no city in Iowa cracked the top 10 states to which people are moving, it remains a sneaky great spot to buy or invest in a home. If you're a dreamer, like myself, and enjoy browsing some of the more fantastical mansions of the region, you can get a peek inside some of them with the links below:

"What Does $1 Million Buy You in Dubuque?"
"This Dubuque Mansion is Its Own Shagri-La"
"Peek Inside: An Enormous, $2 Million Galena Mansion on 13+ Acres"
"$1 Million Platteville Mansion is Something Out of a Movie"
"A Sleek, Modern Dubuque Home Was Just Listed Online"
"This Stately Palace is the Most Expensive Home in Wisconsin"
"This 'Barbie' Themed Victorian Home is Now For Sale in Wisconsin"
"Look Inside the Dubuque Mansion That Just Sold for Over $1 Million"
"Jaw-Dropping Wisconsin Mansion Listed for $4 Million"