Best places to buy rental properties in Iowa

January 21, 2022
● Written by
Teddy

Iowa

Investing in Iowa

Iowa, also called the Hawkeye State, is known for more than politics. It's also a great place to invest in rental properties given its strong and diverse economy and consistent population growth.

The Nophin team crunched the numbers and found the five best places to invest in Iowa rental properties.

Statewide vacancy rates

IA Rental Vacancy Rate via Federal Reserve Bank of St. Louis

Des Moines, IA

Des Moines is the capital city of Iowa and is a huge hubspot for insurance companies.

  • Population: 214,133
  • Median household income: $54,843
  • Median 1-bedroom monthly rent: $945
  • Median listing home price: $199,900

Iowa City, IA

Iowa City is home to the University of Iowa and where both the Republican Party and the Democratic Party host their caucuses every two years.

  • Population: 74,828
  • Median household income: $48,148
  • Median 1-bedroom monthly rent: $750
  • Median listing home price: $299,000

Cedar Rapids, IA

Cedar Rapids has important food processing and manufacturing sites. The city is located northeast of the state capital.

  • Population: 137,710
  • Median household income: $60,787
  • Median 1-bedroom monthly rent: $595
  • Median listing home price: $185,000

Davenport, IA

Located right next to the Mississippi River, Davenport is the largest of the Quad Cities.

  • Population: 101,724
  • Median household income: $53,140
  • Median 1-bedroom monthly rent: $768
  • Median listing home price: $184,000

Sioux City, IA

Sioux City sits at the intersection of Nebraska, Iowa, and South Dakota. It's considered one of the most affordable cities in America.

  • Population: 85,797
  • Median household income: $57,750
  • Median 1-bedroom monthly rent: $975
  • Median listing home price: $200,000

Nophin is landlord banking and software for rental properties

With FDIC-insured bank accounts and cards that seamlessly integrate with easy-to-use software, Nophin helps landlords increase returns and automate rental property finances. Check out what we offer on the Nophin homepage!

Methodology

To help us determine the five best cities in all states, the Nophin team used data from several sources including the 2020 United States Census, the Department of Housing & Urban Development, Federal Reserve Economic Data (FRED), the National Association of REALTORS®, Zumper, internal data, and other reputable sources.

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Please note: Nothing above should be construed as legal, investment, tax, nor financial advice. This content is for informational purposes only. Consult a lawyer and/or an accountant if the above is right for your personal situation.

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