Rent, population, and median household income are important factors to consider for a 1031 exchange in Iowa City due to their correlations with market demand, and conversely, vacancy rate.
Surrounding metropolitan area Area
Iowa City, Iowa is a part of the Iowa City, IA metropolitan area area, and contains 5 zip codes: 52240, 52243, 52242, 52246, and 52245.
Iowa City Demographics & Economic Trends
The 2019 average effective rent for Class A, B, and C apartments in the Iowa City, IA metropolitan area area was $984, which is 14.15% lower than 2014 average rent. This represents a compounded annual growth rate of 2.68%. 2019 vacancy in Iowa City, IA was 2.20%.
The total population of the city of Iowa City, IA has grown 12.42% since 2010. As of 2018, the population was 76,290. The median household income of the Iowa City was $47,274, which is 21.59% lower than the national average.
- metropolitan area area Iowa City, IA
- avg rent $984
- rent growth 14.15%
- vacancy 2.20%
- median income $47,274
- population (2018) 76,290
- population growth 12.42%
- vs. nat'l avg 21.59%
- zip codes 52240 52242 52243 52245 52246