Cedar Rapids - IA housing market
The Cedar Rapids metro has a typical home value of $245,444, up 3.9% from a year ago. Homes are moving fast at 9 days on market, a strong seller's market. 23% of listings have had a price cut. Data from Zillow Research, updated monthly.
Cedar Rapids housing market, October 2026
The typical Cedar Rapids home is worth $245,444 as of August 2026, up 0.4% from the prior month, up 1.1% over three months, and up 3.9% from a year ago. Over the past two years values have ranged from $228,985 to $245,444.
Homes are going pending in about 9 days, the same as the 9 days seen three months earlier. There are roughly 841 homes for sale, 23% fewer than a year ago. 22.9% of listings have taken a price cut (up from 17.6% three months ago).
Typical rent is $1,250 a month, up 13.9% year over year, which puts the price-to-rent ratio at 16.4.
At this week's 7.40% mortgage rate with 20% down ($49,089), the typical Cedar Rapids home costs about $1,666 a month including tax and insurance, which needs a household income of roughly $71,400 to stay under a 28% payment-to-income ratio.
Income needed to buy assumes 20% down, a 30-year fixed mortgage at 7.4% (Freddie Mac weekly average), property tax at 1.1% and insurance at 0.4% of value per year, and a 28% payment-to-income cap. Local taxes and insurance vary; treat it as a comparison figure across metros, not a lender's answer. All metros ranked →
How to read this data
The typical home value ($245,444) is the Zillow Home Value Index for the Cedar Rapids - IA metro area: a smoothed, seasonally adjusted estimate of the typical value for middle-tier homes (33rd to 67th percentile) across single-family and condo properties.
Prices are up 3.9% over the past year. In Cedar Rapids - IA, that means a home worth $236,231 last year is now worth roughly $245,444.
The median sale price, what homes actually close for, is $228,195. Homes are selling at 99.2% of list price, meaning buyers have room to negotiate.
Homes listed in Cedar Rapids - IA sit on the market for roughly 9 days before going pending. Shorter = seller's market; longer = buyer's market.
About 22.9% of current listings have had at least one price cut. High price-cut shares signal sellers are adjusting expectations downward.
Roughly 380 new listings hit the market each month in Cedar Rapids - IA. There are currently 841 homes for sale, down 23.5% from a year ago.
The typical monthly rent in Cedar Rapids - IA is $1,250, up 13.9% year over year. On the Rent vs Buy Index that is a price-to-rent ratio of 16.4x, toss-up (#116 of 195 metros). The mortgage on a typical home here, 20% down at today's 7.4% 30-year rate, runs about $1,360 a month in principal and interest, $110 more than renting before taxes, insurance and upkeep. The two break even at a 6.57% rate.
What's not on this page
This is market-level data, not property-level. We don't list individual homes for sale. For that, go to Zillow, Redfin, or your local MLS.
Data: Zillow Research (ZHVI and market indicators), refreshed monthly at the source. This page was rebuilt October 2026. Methodology →
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Other metros in IA
| Metro | Home value | 1-yr change | Days on market |
|---|---|---|---|
| Des Moines - IA | $294,192 | +0.6% | 27.0d |