Altoona, Iowa Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Altoona, Iowa rental market.
Altoona, Iowa
Average Apartment Rent in April 2022
$1,039
Y-o-Y Change in Average
Apartment Rent
7.7%
Compared to a year ago, Altoona, Iowa apartments have recorded a 7.7% rent increase.
Altoona, Iowa |Average apartment rent trend
Altoona, Iowa| Average apartment rent
Altoona, Iowa | Apartment rent ranges
At 50.46%, apartments priced $700 - $1000 represent the bulk of Altoona, Iowa rentals, while condos priced Over $2,000 hold the lowest share of the market – 0.67%.
Altoona, Iowa | Housing tenure**
Renters take up 29% of Altoona, Iowa real estate, occupying a total of 1,968 units, while homeowners live in 4,754 properties.
Median number of rooms of renter-occupied housing units**
4.1
Renter median household income**
$43,957
Average household size of renter-occupied housing units**
2.32
Rental vacancy rate**
3.8%
Altoona, Iowa | Renter-occupied housing units by no. of bedrooms**
There are 687 rentals in Altoona, Iowa with 2 beds making up the highest share of the market, at 35%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 21 units. Overall, the median number of rooms in Altoona, Iowa homes for rent is 4.1.
Altoona, Iowa |Renter-occupied units by age of householder**
Most condos for rent in Altoona, Iowa are occupied by residents in the 25 - 34 years age group (30%), followed by those in the 35 - 44 years age group (18%). At the same time, people in the 60 - 64 years age group make up the lowest share of the local rental market – 3%.
Altoona, Iowa | Renter-occupied housing units by family type**
Altoona, Iowa | Renter-occupied housing units by the presence of own children**
A total of 949 apartments for rent in Altoona, Iowa, or 48% of all rentals are family households. Additionally, 33% of rental homes include children under the age of 18 – that’s 650 units. All in all, the median size of a renter-occupied household in Altoona, Iowa is 2.32.
Altoona, Iowa | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 18% of the rental market. In contrast, residents with less than a high school degree reside in 7% of the homes for rent in Altoona, Iowa.
Altoona, Iowa | Renter-occupied units by year structure built**
The highest share of Altoona, Iowa apartment rentals, namely 24% or 476 units, were Built 1990 - 1999, followed by those Built 2014 or later (20%, 396 units), and the ones Built 1970 - 1979 (18%, 363 units).
Altoona, Iowa | Renter-occupied units by year householder moved in**
Median year renter moved into unit2016
Most Altoona, Iowa renters (34%) moved in 2015 to 2016, while only 3% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Altoona, Iowa condos for rent is 2016.
Altoona, Iowa | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 45% of Altoona, Iowa renters have 1 vehicle available per household, 33% of them have 2 vehicles available, and 14% have No vehicle available.
Altoona, Iowa | Means of transportation to work of householders living in renter-occupied housing units**
Altoona, Iowa |Geographical mobility in the past year for householders living in renter-occupied housing units**
Altoona, Iowa | Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Altoona, Iowa apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2019 American Community Survey 5-Year Estimates
