Buying a Home, Facts and Trends

Iowa Ranked #1 State for Housing Affordability

by Ruhl&Ruhl Realtors

Did you know that Iowa is ranked the #1 state in the nation for housing affordability? And, according to new research from Moneywise and NAR, Iowa has been named the fifth best state for first-time homebuyers with an average down payment requirement of $23,844.34, beating the national, overall average of $43,870.93. They ranked the 50 states based on the median price for houses in each respective state as provided by Zillow and the average down payment percentage of 13%. The average Zillow home value is $183,418.

With ample opportunities for businesses to grow, Iowans are equally committed to building lasting communities that hold the honor of low-cost living. Iowa has also adopted tax-friendly policies, eliminating tax on retirement income and making strides to decrease individual income tax rates to a flat rate of 3.9% in 2026, saving taxpayers thousands in state income taxes as compared to bordering states. With vibrant communities, affordable living, remarkable natural beauty, and endless exploration, it is no wonder that Iowa ranks as the 9th best state to live in the nation, according to WalletHub’s 2023 data.

Iowa has also recently passed the Students First Act, which allows parents to have the freedom to choose where their children attend school, regardless of zip code or income. This goes into place in the fall of 2025, when parents can decide the best educational setting for their child, whether it is one of Iowa’s world-class public schools or using per-pupil state funding for non-public accredited schools.

Did we mention remarkable natural beauty? Iowa is home to more than 1,800 miles of surfaced bike trails, 80 state parks, 2,300 miles of trails, and 18,000 miles of navigating streams. There are countless opportunities for recreational activities and relaxation.

Iowa has discovered the secret to living large and doing more for a lot less. With accessible child care, educational freedom, enjoyable lifestyles, low cost of living, and more, Iowa is a place you won’t regret calling home.

Are you thinking about making a move to Iowa? Let us help! Contact our Relocation Department at 800-346-8389. 

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