Iowa Real Estate Market Trends & Analysis

The Iowa real estate market has prospered in the wake of a strengthening economy. Unemployment numbers look promising, and both current and future job growth expectations are close enough to the national average to support a more active real estate industry. Evidence of the strengthening economy has already been seen more than halfway through 2019, as Iowa appears to be one of the few states that have taken strides towards alleviating the inventory crisis.

While most markets have seen inventory shrink, Iowa was actually able to increase their months of supply. As one of the few states that actually added to their inventory in the last year, real estate in Iowa looks to be more balanced than most other markets, which spells great news for both buyers and sellers across the state.

Iowa Real Estate Fees & Regulations

Real Estate

Closing Conducted by: Real Estate Agents, Attorneys
Conveyance: Warranty Deed

Foreclosure Procedure

Primary Foreclosure Method: Non-Judicial
Process Period: 5 - 6 months
Notice of Sale: Sheriff
Redemption Period: 12 Months

Taxes

Income Tax: 0.36% - 8.98%
Corporate Tax: 6 - 12%
Sales Tax: 6.00%
Estate Tax: No
Inheritance Tax: 0 - 15%
Median Property Tax: 1.29%
Property Taxes by County: http://www.tax-rates.org/iowa/property-tax#Counties

Average Transactional Costs

Closing Cost: $2,448.00
Transfer Fee: 0.16%
Origination Fee: $1,773.00

Overview

  • Median Home Value: $145,700
  • 1-Year Appreciation Rate: +4.5%
  • Median Home Value (1-Year Forecast): +2.4%
  • Median Rent Price: $1,100
  • Price-To-Rent Ratio: 11.03
  • Average Days On Market: 68
  • Unemployment Rate: 2.5% (latest estimate by the Bureau Of Labor Statistics)
  • Population: 3,156,145 (latest estimate by the U.S. Census Bureau)
  • Median Household Income: $56,570 (latest estimate by the U.S. Census Bureau)
  • Percentage Of Vacant Homes: 8.39%
  • Foreclosure Rate: 1 in every 3,612

Iowa Foreclosure Trends & Statistics

Tax Lien Investing

  • Tax Lien or Deed: Tax Lein State
  • Interest Rate: 24%
  • Redemption Period: 1.75 Years