Rental rates for single-family houses in Iowa on the rise
Business Record Staff Apr 21, 2023 | 2:03 pm
1 min read time119 wordsAll Latest News, Real Estate & Development
Average monthly rental rates for three-bedroom single-family houses increased from a year ago in Des Moines, Davenport, Iowa City and Cedar Rapids, a trend experienced by 95% of the 426 U.S. cities included in a national quarterly survey by Rentometer. Iowa City experienced the highest percentage increase in Iowa, with average rental rates for the houses jumping 16% to $1,760 a month in the first quarter of 2023 from $1,517, the survey found. Rates jumped 10% in Cedar Rapids (to $1,296 from $1,178); 7% in Davenport (to $1,349 from $1,258); and 3% in Des Moines (to $1,394 from $1,348). In the Midwest, Peoria, Ill. had the largest year-over-year rent increase of 37%. To read the report, click here.