Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$246,602+3.9% YoY · prices are rising fast
Market right nowSeller's marketFewer homes for sale than last year, 17% have cut their price
Income needed to buy, per year$53,458About 0.7× the local median income ($76,625): affordable for a typical household
Days on market44 daysFaster than a year ago: sellers have the edge
Next 12 months+4.8%Zillow expects prices to rise strongly
The typical home in Cedar Rapids, IA is worth $246,602, up 3.9% from a year ago. That is well above what local incomes have historically supported: fair value is about $217,421, so the area is 13.4% overvalued. It is a seller's market: homes take about 44 days to sell, listings are down 36% from a year ago, 17% of listings have had a price cut. Zillow expects prices to rise about 4.8% over the next year. A household needs about $53,458 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $76,625. Typical rent is $1,226 a month, or $1,716 for a house. In the latest IRS figures, 124 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$246,602
Change in 1 year
+3.9%
Overvalued %
+13.4%
Show 7 more
Fair home value
$217,421
Change in 5 years
+24.6%
Zillow forecast, next 12 months
+4.8%
Home value to income
3.2×
Monthly mortgage payment (20% down)
$1,336
Income needed to afford it
$53,458
Property tax rate
1.59%
Rent and investing
Typical rent
$1,226
Typical rent for houses
$1,716
Price-to-rent ratio
16.8×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,038
Gross rental yield
5.97%
Cap rate (estimate)
3.88%
Market activity
Listings vs a year ago
−35.9%
Days on market
44
Listings with a price cut
17.0%
Show 3 more
Homes for sale
568
Pending sales per 100 listings
90
Asking price per sq ft
$157
People and jobs
Median household income
$76,625
Population change (1 year)
+0.7%
Unemployment rate
3.3%
Show 4 more
Population
279,285
Income adjusted for cost of living
$86,096
Net moves in (IRS)
−124
Cost of living (US = 100)
89.0
Schools, risk and environment
School rating (1 to 10)
5.2
FEMA hazard risk score (0 to 100)
77.2
Unhealthy air days a year
5
Show 4 more
Flood risk score
79.3
Wildfire risk score
44.5
Walkability (1 to 20)
9.8
Road, rail and air noise
54 dB
Questions people ask
Is Cedar Rapids, IA overvalued?
Home prices in Cedar Rapids, IA are well above what local incomes have historically supported: fair value is about $217,421, so the area is 13.4% overvalued.
Is Cedar Rapids, IA a buyer's or seller's market?
Cedar Rapids, IA is a seller's market: homes take about 44 days to sell, listings are down 36% from a year ago, 17% of listings have had a price cut.
Are home prices going down in Cedar Rapids, IA?
Home values in Cedar Rapids, IA are up 3.9% over the last year. Zillow's forecast for the next 12 months is +4.8%.
How much do you need to earn to buy a home in Cedar Rapids, IA?
A household needs about $53,458 a year to afford the typical home in Cedar Rapids, IA at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $76,625.