Rankings/Cedar Rapids, IA

Cedar Rapids, IA

NeutralTier 1CBSA 16300Compare

Risk Rank: #116 of 274Month: 2026-05Score change (12m):↓ -6

52score

Composite risk percentile vs 274 metros (higher = higher risk)

Executive Summary

Cedar Rapids's housing market shows average risk, ranking 116th of 274 metros. The market recently entered Recovery. Inventory is growing moderately (-24% YoY) with stable liquidity. Early signs of stabilization — conditions may favor patient buyers.

Cedar Rapids experienced a market correction from late 2024 through late 2024. The market is currently recovering.

Inventory is declining (-24% YoY), indicating a tight market with limited supply.

Rent growth is roughly keeping pace with price appreciation, suggesting valuations are not stretched.

Cycle Phase

RecoveryExpansionHypersupplyRecession

1 month in current phase

Market conditions are rebuilding after a correction period

Key Dynamics

Risk is primarily driven by employment and permit growth, while affordability provides the most support.

Top Drivers

Employmentp97

12-month employment change (risk inverted)

Permit Growthp73

YoY permit change

Migrationp63

Net AGI migration (risk inverted)

Market Signals

Inventory is declining (-24% YoY), indicating a tight market with limited supply.

Liquidity

Stable↓

Active Listings YoY

-23.8%p23

Days on Market YoY

+0.0%p45

Months in status1

Data through May 2026

Valuation

Balanced↓

Rent vs. Price Growth

+10.4%p100

Months in status1

Data through May 2026Rent growth vs price growth (rent support). Note: Affordability and Valuation measure different structural dimensions and can diverge.

Factor Details

Lower riskHigher risk

Low RiskBelow AvgNeutralElevatedHigh Risk

Price MomentumBelow Avg

+0.7%p22

12-month HPI change — higher = overheating

Permit GrowthElevated

+13.4%p73

YoY permit change — higher = supply pressure

Permits per CapitaNeutral

4.35p53

Permits per 1,000 residents — higher = overbuilding risk

AffordabilityLow Risk

0.20p1

Mortgage payment / income — higher = more burdened

EmploymentHigh Risk

-2.2%p97

12-month employment change (risk inverted)

MigrationElevated

-$8Kp63

Net AGI migration (risk inverted)

National Context

Credit Conditions

Credit Regime

Stable—

Healthy recovery. Credit is flowing normally and transactions are steady — conditions favor continued rebuilding.

Bank Lending Standards

-3.7Normal

Rate Change (YoY)

-38 bpsNormal

Mortgage Risk Premium

+199 bpsElevated

Stable for 9 quartersData through 2026-Q2

Supply Pipeline

Supply Regime

Accumulating—

Supply pipeline is building up while credit remains available. New units are accumulating in the system — watch for delivery pressure in coming quarters.

Pipeline Ratio

0.90Elevated

Completion-Permit Divergence

-5.9 ppNormal

Accumulating for 5 quartersData through 2026-Q2

Local Signals

Metro Permit Activity

Permit Activity

Elevated

YoY Permit Growth

+13.4%Above norm

Raw signal — not the composite percentile

Relative to 2016–2019 norms for this metro

Above-normal building activity with healthy demand. Balanced expansion — the market is absorbing new supply without stress.

Employment Concentration

Employment

Moderate

Largest SectorManufacturing 21.5%

QCEW 2024 annual averages

Internal Structure

Cedar Rapids's 3 counties show moderate divergence — Linn County carries the most risk (Elevated) while Benton County anchors the lower end.

Moderate13.8Limited data

3 of 3 counties scored

Cedar Rapids, IA shows Moderate internal divergence — some counties diverge meaningfully from the metro picture. Linn County contributes the most structural risk (Elevated, driven by permit growth), while Benton County anchors the lower end (Below Average).

Within-metro factor percentiles (0 = lowest risk, 100 = highest risk)

County	Score ▼	Band	Pop %	Price	Permits	Afford
Linn CountyRisk Driver	75	Elevated	83.2%	0	100	100
Benton CountyStabilizer	38	Below Average	9.3%	100	0	0
Jones County	38	Below Average	7.5%	50	50	50

Score History

Month	Phase	Score	Price	Permits	Afford	Employ	Migr
2025-12	Rec	54	82	45	2	85	63
2025-10	Rec	55	51	85	2	75	72
2025-07	Hyp	57	38	85	2	96	72
2025-05	Hyp	58	46	85	3	96	72
2025-02	Hyp	51	5	85	2	96	72
2025-01	Rec	51	6	85	2	92	72
2024-12	Hyp	53	12	85	3	99	72
2024-10	Hyp	53	13	85	3	100	72
2024-09	Ress	54	21	85	3	95	72
2024-07	Ress	55	28	85	3	97	72
2024-06	Hyp	56	29	85	3	99	72
2024-04	Exp	57	37	85	3	99	72
2024-02	Rec	62	65	85	4	96	72
2023-12	Rec	64	76	85	3	98	72
2023-11	Exp	64	77	85	3	98	72
2023-09	Exp	62	70	85	3	96	72
2023-08	Rec	60	57	85	3	98	72
2023-06	Rec	57	39	85	3	97	72
2023-05	Hyp	55	32	85	3	93	72
2023-03	Ress	55	28	85	3	96	72
2023-01	Ress	57	37	85	3	97	72
2022-10	Hyp	51	12	85	2	87	72
2022-09	Ress	52	17	85	3	91	72
2022-07	Ress	52	12	85	3	93	72
2022-06	Hyp	53	14	85	3	96	72
2022-04	Rec	52	13	85	3	93	72
2022-02	Rec	51	5	85	3	93	72
2022-01	Exp	51	6	85	3	91	72
2021-11	Exp	50	8	85	1	84	73
2021-08	Exp	45	15	85	2	49	73
2021-05	Exp	49	16	85	2	72	73
2021-03	Rec	46	12	85	2	59	73
2021-01	Rec	46	11	85	2	59	73
2020-10	Rec	46	14	85	3	57	72
2020-07	Rec	47	13	85	2	61	72
2020-04	Rec	44	7	85	3	51	72
2020-02	Exp	50	9	85	3	84	72
2019-12	Exp	45	8	85	3	70	59
2019-11	Rec	43	7	85	3	58	59
2019-09	Rec	44	4	85	3	65	59
2019-08	Exp	42	3	85	3	54	59
2019-06	Exp	50	15	85	3	93	59
2019-05	Hyp	48	23	85	4	70	59
2019-04	Exp	47	32	85	3	56	59
2019-03	Rec	48	34	85	4	59	59
2019-01	Rec	46	27	85	4	54	59

Data Vintages

Price (HPI)2026-Q1

Permits2026-05

Income2024

Employment2026-05

Migration2023