Iowa Real Estate

If you are looking to save money, Iowa is the place to be. The Hawkeye state has been considered one the best places to live in the U.S. over and over because of its low crime rate, low insurance rates, low cost of living and because of its great deals on real estate. In Iowa, you can find larger homes for lower prices. Iowa is in the top six states of having lowest priced home rankings in the United States. The median value of a home is $82,500 and the average rent is $361. From 1990 to 2000 the amount of single family homes has gone up 7.8%, to 1.2 million units. 756,000 of these homes are in urban areas, while quite a few, 475,000 homes are in rural areas. Because of its fertile watershed soil, Iowa is a big farming state. 1.3 million, of its 2.9 million residents, live in rural areas. The state itself has 35.7 million acres of which 31.7 million acres are used for farming.

Homeownership is very high is Iowa as 72.3% of residents are homeowners. In Cedar Rapids, one of Iowa’s largest cities, home prices are up 0-5% from 2005. The average price of a home is $150,000, and most sellers receive 95-100% of their asking price. Sellers should expect their home to be on the market for 30-60 days. There is a population rise in the area and the most common buyers are first time home owners. Seven metro areas have been given five star community rankings in 2005, making them hotspots to buy property.