One of the Most Affordable Metros in the Country is in Iowa

The website Lawn Love recently conducted a study regarding rent prices around the country. In a country where rent prices continue to climb to almost unobtainable figures, two Iowa metropolitans are on the good side of this list.

Before we address that, let's take a look at some local figures. Iowa has some of the cheapest rent prices in the country, according to the World Population Review. Lawn Love lists the median rent in Iowa at $806, up slightly from $789 in 2022, and far below NPR's reported $2,000 median.

Iowa's rent ranks as one of the ten cheapest on average, with only Mississippi, Kentucky, South Dakota, Arkansas, and West Virginia having cheaper rates on average. One metro in the Hawkeye State even cracked the top 10 for most affordable!

The Davenport-Moline-Rock Island metropolitan incorporating both eastern Iowa and western Illinois placed 163/172 on Lawn Love's list of most affordable regions in the country. Note: the lower an area ranks, the more affordable it is to live there. The Quad Cities had highly favorable marks in rent prices, rent affordability, and cost inflators as well.

Last year, both the Quad Cities and Des Moines made Lawn Love's list of most affordable metropolitans. Des Moines/Wes Des Moines placed sixth last year with the QC metro right behind it at seven. This year, the latter is down to #10, and the Des Moines area somehow plummeted all the way down to #160!

Meanwhile the World Population Review tried to still down the reasons for why rent costs are rising at such a rapid pace:

Rising rents are due to a widening gap between demand and supply. First, rising home prices have priced out many would-be buyers, forcing them to remain in the rental market. According to the National Association of Realtors, first-time buyers fell to 26% in November 2021, the lowest rate since 2014. More than nine million buyers have been priced out of the market by the surge in home prices since 2022. At the same time, more people have been moving out on their own as COVID-19 restrictions ease.

I was fortunate enough to find a cat friendly apartment in Dubuque for less than $1,000/month. I couldn't be happier with where I live.

See the full results of Lawn Love's study here.