How many renters live in Iowa?
The State of Iowa has 20,631 people living in 8,020 households.
There are 3,149 renters living in 1,552 renter households in this State. Renters make up 15.26 percent of the population living in Iowa.
What is the rental market like in Iowa?
There are an estimated 8,911 housing units in the Iowa area. Of these, 1,769 units are rental homes, making up 20 percent of the housing market. For every renter household in Iowa, there are 1 rental units.
What is the vacancy rate for rentals in Iowa?
The rental vacancy rate in Iowa is 10 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Iowa for each bedroom size?
Occupied Rental Units by Size in Iowa
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 93 | 357 | 553 | 410 | 121 |
Occupied Rental Units by Size in Iowa
A large number of apartments in Iowa have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Iowa are overburdened by housing costs?
Among renter households in this market, 36 percent have housing cost burden. Further, 16 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How many units are rented at Fair Market Rent (FMR) in Iowa?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 56 | 60 percent |
| One BR | 257 | 72 percent |
| Two BR | 314 | 57 percent |
Rental Units Below FMR in Iowa
How many affordable rental units are in Iowa?
There are a variety of federal affordable housing programs serving households in Iowa including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 23 |
| USDA Section 515 Rural Rental Housing | 199 |
Tracked Units by Federal Program in Iowa
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Iowa
Iowa features 25,968 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Iowa
There are 23,361 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Iowa.
Housing Choice Vouchers in Iowa
On average, Section 8 Housing Choice vouchers pay Iowa landlords $500 per month towards rent. The average voucher holder contributes $300 towards rent in Iowa.
The maximum amount a voucher would pay on behalf of a low-income tenant in Iowa for a two-bedroom apartment is between $828 and $1,012.
Sourced from federal housing data and AffordableHousingOnline.com research.
