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Positioned in the Midwestern region, Iowa is the thirtieth most populous state in North America. It is bordered by the Missouri River, Mississippi, Big Sioux River as well the 6 states of Wisconsin, Missouri, Illinois, Nebraska, Minnesota, and South Dakota.
Aside from being the state capital, Des Moines is the most populous city in the state with the biggest metropolitan area. It is deemed to be one of the best and safest states to live in.
The following are the most popular places to live in Iowa:
- West Des Moines
- Iowa City
- Cedar Falls
Keep reading to get a better understanding of the Iowa real estate market and options for homebuyers. We will pay special attention to rent-to-own homes in Iowa.
Buying a House in Iowa
With so many homes for sale on the Iowa real estate market, homebuyers have a wide variety of options to choose from. For example, they can pick from single-family homes to foreclosed houses and condos.
The home value of homes is $161,290. Please note that this value includes the home middle price and it is seasonally adjusted. Over the past year, the house values in Iowa have gone up 4.4 percent.
Rent to Own vs Buying
Many people are interested in buying a home in Iowa, but circumstances prevent them from taking action on this dream. While some have an insufficient credit score for the interest rate they’d like to get, others lack enough of a down payment.
That’s why many buyers keep renting for years. Rent-to-own agreements get tenants into their own homes (rent-to-own houses) and out of the rental in a couple of years. These are home-purchasing contracts that let you begin as a tenant and become a homeowner in the end.
It should be mentioned that lease-purchase agreements are different from lease-option. You are advised to look for rent-to-own agreements and properties that involve the option to purchase the home before the lease expires.
Living Expenses in Iowa
Many people relocate to Iowa because of the low cost of living that allows them to live comfortably in this state. Housing costs are around 40% lower than in the United States, generally speaking. It’s just one of the benefits that Iowa residents enjoy.
Transportation is also very affordable. This cost is about 30% lower than the national average. Utilities, groceries, as well as goods and services, are also somewhat cheaper in most other states.
The only exception is healthcare. It’s around 20% above the U.S. average. Nevertheless, the overall cost of living is inexpensive.
Iowa is one of the most affordable states in terms of housing. Additionally, it provides ample housing options for people on a budget. There are also a lot of housing options for buyers who are in the market for homes in exclusive high-income neighborhoods.
Go through our listings to find a home within your budget that perfectly suits your needs. It is worth researching!
Reported Annual Crime In Iowa