Cedar Rapids, IA
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
affordable
Price to income
2.62×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Iowa
- 2.84×-0.22
- vs U.S.
- 3.43×-0.81
Benchmark
ACS median home value ÷ median HHI
comfortable
Rent to income
16.7%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Iowa
- 18.6%-2.0
- vs U.S.
- 23.3%-6.6
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.13%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Iowa
- 4.10%+0.03
- vs U.S.
- 4.35%
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
shrinking
Net migration
-0.07%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Iowa
- -0.12%+0.05
- vs U.S.
- 0.03%
Benchmark
IRS net migration ÷ population
normal
Permit pipeline
3.79
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Iowa
- 3.85
- vs U.S.
- 3.52+0.27
Benchmark
Census BPS permits TTM ÷ population × 1,000
healthy
Unemployment
3.4%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Iowa
- 3.4%=
- vs U.S.
- 3.9%-0.5
Benchmark
BLS LAUS, latest month
Where prices are and where they've been
5-year price appreciation
+38.5%
homeValues.yearOverYear
+4.2%
Median home value
$202,100
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $816 | $9,792 | 12.7% |
| 2 BR | $1,071 | $12,852 | 16.7% |
| 3 BR | $1,490 | $17,880 | 23.2% |
Labor market direction
Unemployment
3.4%
Median household income
$77,084
What's being built
Total TTM
1,045
+7.0% YoY
Single-family
466
2–4 unit
130
5+ unit
449
All 3 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Linn County | 229,308 | $204,400 | $76,421 | 1,006 | +8.3% |
| Benton County | 25,652 | $198,400 | $84,742 | 22 | |
| Jones County | 20,733 | $183,400 | $73,071 | 17 |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Cedar Rapids | 275,693 | $77,084 | 2.62× | 4.13% | +38.5% | 3.79 | 3.4% |
| Atlantic City-Hammonton, NJ | 274,339 | $80,600 | — | — | +84.4% | — | 7.2% |
| Crestview-Fort Walton Beach-Destin, FL | 288,639 | $79,150 | — | — | +51.3% | — | 4.5% |
| Sioux Falls, SD | 277,944 | $81,418 | — | — | +48.0% | — | 2.3% |
| Wilmington, NC | 289,726 | $73,687 | — | — | +70.7% | — | 3.4% |
| Hagerstown-Martinsburg, MD-WV | 295,165 | $75,473 | — | — | +50.6% | — | 3.9% |
Where people are moving in from
Net migration
-187
-0.07% of population
| Origin county | Tax returns |
|---|---|
| Johnson County, IA | 823 |
| Linn County, IA | 430 |
| Benton County, IA | 246 |
| Black Hawk County, IA | 187 |
| Jones County, IA | 166 |
| Polk County, IA | 150 |
Who lives in Cedar Rapids
- Median age
- 39
- Bachelor's+
- 32.8%
- Owner-occupancy
- 74.8%
- Vacancy rate
- 7.1%
- Rent burdened (30%+)
- 40.3%
- Median household income
- $77,084
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.