Quick facts: Cedar rapids, IA

Quick Facts

96.6
Cost of Living
below US average
136,429
Population
33.4
Crime Rate per 1000
above US average
$66,895
Median Income
below US average
$252,500
Median House Price
above US average
$1285.26
Average Rent
below US average
10%
Poverty Rate
below US average
4.3%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $66,895.

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Income Needed to Buy

βœ— Stretch
$79k/year
Based on $252,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $79k vs median $66,895
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Income Needed to Rent

βœ“ Affordable
$55k/year
Based on $1285.26/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($66,895) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Cedar rapids, IA

Cedar Rapids, located in eastern Iowa, is the second-largest city in the state and serves as a key cultural and economic hub. Known as the "City of Five Seasons," Cedar Rapids prides itself on its vibrant arts scene, outdoor recreational opportunities, and diverse community. The Cedar River runs through the heart of the city, providing picturesque waterfront parks and trails for residents and visitors alike. The city boasts a rich history in manufacturing and is home to several Fortune 500 companies, contributing significantly to its economy. Cedar Rapids also features a variety of attractions, including the Cedar Rapids Museum of Art, Coe College, and the Paramount Theatre, which host various events and performances year-round. With a strong emphasis on community involvement, Cedar Rapids hosts numerous festivals and events, such as the Cedar Rapids Kernels baseball games and the Iowa's Largest Children's Festival. The city offers a blend of urban amenities with a welcoming, small-town feel, making it an attractive place to live, work, and explore.

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