7 Most Affordable Places to Live in Iowa in 2024
With its rich agricultural heritage, warm and welcoming towns, events like the Iowa State Fair, and picturesque fields, Iowa may be one of the cozy Midwestern states you’re considering living in this year. If Iowa sounds like the state for you, then you may also be curious what cities fit into your budget. As of July, the median home sale price in Iowa is $240,500.
If that price doesn’t fit into your budget, don’t worry. To help you find the right place to buy a home, Redfin has compiled a list of 7 of the most affordable places to live in Iowa. And they all have a median home sale price under $240,500. From Des Moines to Cedar Rapids, read on to see what cities you may want to consider moving to.
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#1: Waterloo
Median home price: $163,750
Average sale price per square foot: $125
Average rent for a 1-bedroom apartment: $700
Median household income: $46,942
Nearest major metro: Cedar Rapids (55 miles)
Waterloo, IA homes for sale
Waterloo, IA apartments for rent
With a median home sale price of $163,750, Waterloo is the most affordable place to live in Iowa. About 67,300 people live in Waterloo and it’s roughly 55 miles from the nearest metropolitan city, Cedar Rapids. If you’re considering moving to this area make sure to hike, boat, windsurf, or fish at George Wyth State Park, explore museums like the John Deere Tractor & Engine Museum and Waterloo Center for the Arts, and check out the local shops and restaurants along the riverfront.
#2: Dubuque
Median home price: $185,000
Average sale price per square foot: $135
Median household income: $54,938
Nearest major metro: Cedar Rapids (75 miles)
Dubuque, IA homes for sale
Dubuque, IA apartments for rent
Claiming the second spot on our list of affordable places to live in Iowa is Dubuque. With a population of about 59,700, you’ll be living in a mid-sized city, but there is no shortage of things to experience in Dubuque. If you find yourself moving to this city make sure to check out the charming downtown Dubuque streets, visit one of the museums like Dubuque Museum of Art and National Mississippi River Museum & Aquarium, or explore the 56-acre Dubuque Arboretum & Botanical Gardens.
#3: Davenport
Median home price: $187,500
Average sale price per square foot: $123
Average rent for a 1-bedroom apartment: $1,040
Median household income: $53,140
Nearest major metro: Cedar Rapids (80 miles)
Davenport, IA homes for sale
Davenport, IA apartments for rent
Taking third place is Davenport, located just across the Mississippi River from Illinois. When living in this city of 101,700 people, you can check out Centennial Park along the Mississippi River, explore the Hamburg Historic District, or stroll through Credit Island Park.
#4: Council Bluffs
Median home price: $192,000
Average sale price per square foot: $147
Average rent for a 1-bedroom apartment: $1,275
Median household income: $53,140
Nearest major metro: Omaha, NE (4 miles)
Council Bluffs, IA homes for sale
Council Bluffs, IA apartments for rent
Check out Council Bluffs if you’re looking for an affordable place to move to in Iowa. With 62,800 people living in Council Bluffs, it’s a great option to consider when looking to stay in Iowa without paying the premium for a home in a more expensive area. Living in Council Bluffs, you can spend time outside at Riverside Park, Lake Manawa, or Tom Hanafan River’s Edge Park. Or you can discover the exhibits at the Western Historic Trails Center and the Union Pacific Railroad Museum, and explore Bayliss Park, located in downtown Council Bluffs.
#5: Cedar Rapids
Median home price: $200,000
Average sale price per square foot: $121
Average rent for a 1-bedroom apartment: $765
Median household income: $60,787
Nearest major metro: Des Moines (130 miles)
Cedar Rapids, IA homes for sale
Cedar Rapids, IA apartments for rent
Fifth is Cedar Rapids where about 137,700 residents currently live. The median home sale price is $200,000 which is about $40K less than the median home sale price in Iowa. If you find yourself moving to the fifth most affordable city in Iowa, make sure to discover museums like the National Czech & Slovak Museum & Library and the Brucemore mansion. You can also explore the trails at Indian Creek Nature Center, and check out the local vendors and restaurants in NewBo City Market.
#6: Sioux City
Median home price: $213,500
Average sale price per square foot: $129
Average rent for a 1-bedroom apartment: $1,060
Median household income: $53,140
Nearest major metro: Omaha, NE (100 miles)
Sioux City, IA homes for sale
Sioux City, IA apartments for rent
A little more expensive than Cedar Rapids is Sioux City, the next city on our list. There are several top attractions you may want to check out in Sioux City. Make sure to explore Stone State Park where you can hike, camp, fish, and boat, stroll through downtown Sioux City, and visit museums like Sioux City Public Museum and Lewis & Clark Interpretive Center.
#7: Des Moines
Median home price: $221,000
Average sale price per square foot: $197
Average rent for a 1-bedroom apartment: $1,012
Median household income: $54,843
Nearest major metro: Cedar Rapids (130 miles)
Des Moines, IA homes for sale
Des Moines, IA apartments for rent
The final city on our list of most affordable places to live in Iowa is none other than Des Moines. Des Moines has about 214,100 residents and is a great city to consider buying a home this year. Whether you walk or bike along the Des Moines Riverwalk, visit the Pappajohn Sculpture Park, or visit the Iowa State Capitol, there are many activities to do and see in this city.
Methodology: All cities must have over 50,000 residents per the US Census and have a median home sale price under the average median home sale price in Iowa. Median home sale price and median sale price per square foot from the Redfin Data Center during July 2024. Average rental data from Rent.com July 2023. Population and median household income data sourced from the United States Census Bureau.
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