Why is Rent So Cheap in Iowa?

[lepoisson]

Originally Posted by capitalcityguy

OK...but you're talking about a college/university town (city).

That's an entirely different set of rules given the unique dynamic that having tens of thousands of students factored into your population of your city (especially a modest sized city) of those looking/needing rental units.

You're right. But I've lived in Chapel Hill, NC and in Columbia, MO (both college towns) and never had to deal with rental troubles like in Iowa City.

The Iowa City area is more than just a college town. Between Coralville and Iowa City, there are more than 100,000 residents, so there's something going on there besides just the university.

I think the area has a severe shortage of rentals. I was looking in February and almost every place we looked at was already reserved for August. Apartments that were miles away from the campus were already on a wait list. I was wanting to move in June, and everyone acted like I was speaking a different language for not wanting to move in August.

This is the main reason I decided to go elsewhere for graduate school. I had no problems finding an apartment in Columbia, MO (a college town similar in size to IA City).

[atler8]

Something dynamic is obviously going on in the Iowa City economy that is driving rents & housing prices upward.
ISU over in Ames has zoomed past & left the U of I behind in enrollment this decade so it's not university enrollment growth that is driving the growth & higher costs in Iowa City.
Metro Iowa City & metro Des Moines are basically neck and neck so far this decade in percentage growth and easily rank as the fastest in Iowa & are comparable to a lot of "boom" town growth rates that are readily assigned that "boom" moniker by virtue of their growth & location in the sunbelt or west.
Both areas are doing something right economically & in quality of life in order to draw in such large numbers of new residents.

[pystachio]

If I were to decide to move to Iowa, where would you recommend to stay as a place of temporary residency? Do they have cheap weekly rentals anywhere?

[maniac77]

Yeah, I believe the place on Craigslist you saw is a Value Place extended stay motel in Ankeny. It doesn't get the best reviews, but, at around $327 for a week (with tax), I don't think you'll find a cheaper motel than that. Even the cheapest motels in Des Moines will run you approximately $380 a week. There are a few listings on Air BnB in the $250-300 range for a week, if you don't mind living in someone else's home. And there is a hostel for $210 a week. I hope this helps and good luck!

[Nobodybody]

Originally Posted by pystachio

If I were to decide to move to Iowa, where would you recommend to stay as a place of temporary residency? Do they have cheap weekly rentals anywhere?

Do you need it to be as temporary as 'week to week'? I would say throughout Des Moines, you could probably find a studio apartment that you leased monthly, for a significantly cheaper overall rate. Just be sure you can negotiate Tenant at Will with the landlord.

[pystachio]

Originally Posted by Nobodybody

Do you need it to be as temporary as 'week to week'? I would say throughout Des Moines, you could probably find a studio apartment that you leased monthly, for a significantly cheaper overall rate. Just be sure you can negotiate Tenant at Will with the landlord.

Yes, anywhere that is temporary with a good rate. That $380/week rate I posted is a bit pricey considering the whole point of moving there is to pay cheaper rent! When I posted it I thought it was a monthly rate. There are much cheaper weeklies than that where I live now. What do you guys make of this article: Cedar Rapids, ia | 2015 Best Affordable Places to Live ?

According to them Cedar Rapids, IA is in the TOP 10 most affordable places to live in the US. No mention of Des Moines. Also, what sites do you all recommend for apartments? Where can I find a nice one bedroom in the $500-$600 range? I always use craigslist, but I'm not seeing anything spectacular on there.

[maniac77]

There are plenty of places in the $500-$600 range in the Des Moines area as long as you can commit to a 6-month lease. I'll DM you a list. Otherwise you'll probably have to pay more unless you find something privately via Craiglist for cheaper. The cheapest places probably won't be advertised electronically. For $500-$600 a month, you will not find anything spectacular in the Des Moines area. The best you can hope for is something adequate.

Cedar Rapids is slightly cheaper than Des Moines, and I hear it's a fine city. If your objective is living as cheaply as possible, the rent is cheaper in smaller cities with a couple of exceptions like Iowa City and Des Moines suburbs, for example.

I'll send you more information privately.