Cedar Rapids Iowa Residential Rent and Rental Statistics
The median monthly gross residential rent in Cedar Rapids, IA (the Cedar Rapids metro area) was $758 in 2019 according to the Census ACS survey.1 Average gross rent in Cedar Rapids was $812 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Cedar Rapids median and average rent data will be released in September of 2021.
Data is also available below for Cedar Rapids rental vacancy rates, Cedar Rapids rent as a percent of median income and the fraction of renters in Cedar Rapids.
Real Gross Rent in Cedar Rapids Iowa (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Iowa Median Gross Rent | $808 | +2.15% | +4.12% |
| Cedar Rapids, IA Median Gross Rent | $758 | +7.06% | +2.29% |
Cedar Rapids, IA Real Gross Rent Trends
At $758, real median gross rent in Cedar Rapids was at its highest level in 2019 since the series began in 2005. At $812, real average gross rent in Cedar Rapids was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Cedar Rapids: Cedar Rapids IA Median, Cedar Rapids IA Average, Iowa Median, US Median
Real Gross Rent History for Cedar Rapids
| Date | US Median |
Iowa Median |
Cedar Rapids, IA Median |
Cedar Rapids, IA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $808 | $758 | $812 |
| 2018 | $1,077 | $791 | $708 | $738 |
| 2017 | $1,043 | $784 | $751 | $782 |
| 2016 | $1,027 | $776 | $741 | $751 |
| 2015 | $1,017 | $762 | $742 | $734 |
| 2014 | $986 | $751 | $734 | $699 |
| 2013 | $953 | $715 | $708 | $732 |
| 2012 | $940 | $703 | $711 | $739 |
| 2011 | $941 | $694 | $657 | $734 |
| 2010 | $955 | $703 | $736 | $740 |
| 2009 | $960 | $696 | $699 | $701 |
| 2007 | $927 | $666 | $638 | $664 |
| 2005 | $910 | $699 | $701 | $705 |
Cedar Rapids Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Cedar Rapids Iowa was 6.03% according to Census ACS data.
Rental Vacancy Rate in Cedar Rapids Iowa
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Iowa | 6.21% | -0.67% | -0.03% |
| Cedar Rapids, IA | 6.03% | -0.53% | -1.26% |
Trends in Cedar Rapids, IA Rental Vacancy Rate
The rental vacancy rate in Cedar Rapids peaked in 2017 at 11.52%. Since then it has fallen by 5.49% to 6.03%. Data records for this series originated in 2005.
Rental Vacancy Rate: Cedar Rapids IA, Iowa, US
Historical Rental Vacancy Rate data for Cedar Rapids
| Date | US | Iowa | Cedar Rapids, IA |
|---|---|---|---|
| 2019 | 5.97% | 6.21% | 6.03% |
| 2018 | 6.15% | 6.88% | 6.56% |
| 2017 | 6.18% | 7.31% | 11.52% |
| 2016 | 5.89% | 6.24% | 7.29% |
| 2015 | 5.85% | 6.41% | 8.16% |
| 2014 | 6.32% | 5.47% | 7.05% |
| 2013 | 6.49% | 6.03% | 9.71% |
| 2012 | 6.77% | 6.77% | 9.98% |
| 2011 | 7.40% | 6.64% | 8.49% |
| 2010 | 8.17% | 6.38% | 5.14% |
| 2009 | 8.43% | 5.97% | 6.97% |
| 2007 | 7.87% | 7.54% | 3.20% |
| 2005 | 7.74% | 7.17% | 7.11% |
Rent as a Fraction of Income
Using median household income data for Cedar Rapids, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Cedar Rapids, median monthly gross rent as a fraction of median household income was 14.19% in 2019 according to the ACS.
Cedar Rapids Iowa Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Iowa | 15.72% | +0.17% | -0.09% |
| Cedar Rapids, IA | 14.19% | +0.93% | +0.79% |
Trends in Cedar Rapids, IA Rent as a Fraction of Income
The fraction of median Cedar Rapids household income required to pay median monthly gross rent peaked in 2006 (relative to the 2005 series origin) at 15.56%. Since then it has fallen by 1.37% to 14.19%. From a 2007 low of 12.53%, the fraction of income going to rent has increased by 1.67%.
Fraction of Income towards Rent: Cedar Rapids IA, Iowa, US
Historical Data for Annual Rent as a Fraction of Income in Cedar Rapids Iowa
| Date | US | Iowa | Cedar Rapids, IA |
|---|---|---|---|
| 2019 | 20.03% | 15.72% | 14.19% |
| 2018 | 20.50% | 15.55% | 13.26% |
| 2017 | 20.13% | 15.57% | 13.71% |
| 2016 | 20.43% | 15.81% | 13.40% |
| 2015 | 20.63% | 15.74% | 14.46% |
| 2014 | 20.89% | 15.88% | 13.48% |
| 2013 | 20.78% | 15.60% | 14.30% |
| 2012 | 20.65% | 15.57% | 14.01% |
| 2011 | 20.70% | 15.61% | 13.33% |
| 2010 | 20.50% | 15.74% | 14.71% |
| 2009 | 20.12% | 15.26% | 13.79% |
| 2007 | 18.66% | 14.39% | 12.53% |
| 2005 | 18.89% | 15.38% | 13.95% |
Renter Fraction in Cedar Rapids Iowa
You can calculate the renter fraction in Cedar Rapids in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Cedar Rapids as a fraction of total Cedar Rapids households. In 2019 27.11% of households were renters according to Census ACS data.
Cedar Rapids Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Iowa | 29.47% | +0.75% | +0.10% |
| Cedar Rapids, IA | 27.11% | +2.95% | +1.49% |
Trends in the Cedar Rapids, IA Renter Fraction
At 27.11%, the 2019 household based renter fraction in Cedar Rapids was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Cedar Rapids IA, Iowa, US
History of Cedar Rapids Renter Fraction
| Date | US | Iowa | Cedar Rapids, IA |
|---|---|---|---|
| 2019 | 35.89% | 29.47% | 27.11% |
| 2018 | 36.05% | 28.72% | 24.16% |
| 2017 | 36.13% | 28.40% | 23.53% |
| 2016 | 36.88% | 29.37% | 25.62% |
| 2015 | 36.97% | 29.33% | 26.76% |
| 2014 | 36.90% | 29.13% | 24.88% |
| 2013 | 36.50% | 29.19% | 26.07% |
| 2012 | 36.09% | 28.07% | 25.70% |
| 2011 | 35.42% | 27.65% | 24.30% |
| 2010 | 34.65% | 27.64% | 26.36% |
| 2009 | 34.13% | 27.92% | 25.91% |
| 2007 | 32.80% | 26.31% | 26.84% |
| 2005 | 33.10% | 26.90% | 26.29% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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