Iowa City & Cedar Rapids market report: September 2026.
The numbers for both metros, commercial and residential, and what they actually mean if you are buying, leasing, selling, or trying to decide whether to wait. Published monthly.
Plenty of people post the market stats. Almost nobody tells you what they mean. Below is the September data for the Iowa City and Cedar Rapids metros, followed by my read on it. I work commercial and residential in both markets, so I read these numbers as inventory and cost, not as a headline.
Commercial: active listings.
Cedar Rapids Metro
Cedar Rapids, Hiawatha, Marion, Robins
▼ 14% year
▼ 29% year
▼ 11% year
▼ 1% year
▼ 44% year
Source: Cedar Rapids MLS via Trendgraphix. Reports pulled 10.12.2026.
Iowa City Metro
Iowa City, Coralville, North Liberty, Solon, Tiffin
▼ 22% year
▲ 125% year
▲ 20% year
▲ 7% year
▼ 8% year
Source: Iowa City MLS via Trendgraphix. Reports pulled 10.12.2026.
What it means
Both commercial rates went up in the same month. Last month the 10 year treasury moved and prime held, so only long fixed money got more expensive. This month both moved. The treasury went from 4.83% to 5.24%, and prime went from 6.75% to 7.00%. On a $1 million note with a 20 year amortization, that quarter point on prime is roughly $150 a month. If your note is priced off the treasury, the 0.41 point move is closer to $265 a month on the same loan over 25 years. Neither number kills a good deal. Both of them kill a deal that only barely worked in August.
The Iowa City industrial window closed. Fifteen listings in July, 13 in August, 9 in September. Two months ago I said the July spike was a handful of buildings landing at once rather than a trend, and this is what that looks like on the way back down. The 125% year over year figure is again off a very small base. Cedar Rapids is at 139, down 29% on the year. If you need shop or flex space in Johnson County, you are now choosing between single digits.
Iowa City office is quietly shrinking. Forty-five listings, flat on the month and down 22% on the year. Small multifamily gave back a little of August's jump, 22 listings down from 26, still more choice than most of this year. Cedar Rapids multifamily rose to 10 from 7, which is still thin for a metro that size.
The two rates on the commercial sheet.
Most people skip past these two numbers. They are on the sheet because they are what decides whether a small commercial deal pencils. Local banks generally price commercial loans off one of them, either a spread over prime for a shorter note or line, or a spread over the treasury for longer fixed money. Your actual rate comes from your lender, your down payment, and your business, not from this page. But when either one moves, the payment on the building you are considering moves with it, and so does the number the property has to produce to cover itself.
Residential: September at a glance.
Cedar Rapids Metro
Cedar Rapids, Hiawatha, Marion, Robins
▲ 19% year
▲ 9% year
▼ 8% year
▼ 39% year
▼ 35% year
Homes sold by price range: 7 under $100,000, 76 from $100,000 to $199,999, 86 from $200,000 to $299,999, 55 from $300,000 to $399,999, and 52 at $400,000 and above. Compared to last September, sales over $400,000 are up 73% and the $300,000 to $399,999 band is up 34%, while under $100,000 is down 50% and $100,000 to $199,999 is down 17%.
Source: Cedar Rapids Metro Area via Trendgraphix. Reports pulled 10.12.2026.
Iowa City Metro
Iowa City, Coralville, North Liberty, Solon, Tiffin
▼ 7% year
▼ 4% year
▲ 3% year
▼ 29% year
Homes sold by price range: 3 under $100,000, 15 from $100,000 to $199,999, 35 from $200,000 to $299,999, 35 from $300,000 to $399,999, and 41 at $400,000 and above. Compared to last September, the $200,000 to $299,999 band is up 25%, while $400,000 and up is down 15% and $100,000 to $199,999 is down 25%.
Source: Iowa City Metro Area via Trendgraphix. Reports pulled 10.12.2026.
What it means
Iowa City buyers came back in September. It just does not show in the sales yet. Homes sold fell to 127, down 31% from August, which is what August's drop in pending sales said would happen. The number to watch is the one that turned. Pending listings rose 8% on the month to 147, and are up 3% on the year. Pendings are next month's closings, so October should be noticeably busier than September was.
The Iowa City average price is down 7% on the year, and most of that is mix. The average held at $374,000, flat on the month. But sales at $400,000 and up fell 15% on the year while the $200,000 to $299,999 band grew 25%. When fewer expensive houses close and more mid-priced ones do, the average drops without any one house being worth less. If you own in Johnson County, do not take 7% off your number because of that headline.
Cedar Rapids is the same arithmetic in the other direction. The average price is up 19% on the year to $298,000, and sales over $400,000 are up 73% while sales under $100,000 are down 50%. Some of that is real appreciation. A good share of it is which houses sold.
Inventory is still the floor under both markets. Active listings are down 29% on the year in Iowa City and 35% in Cedar Rapids. Days on market are down sharply on the year in both metros. Fewer houses and steady buyers is what keeps prices from giving back ground, even in a slow month.
The full Skogman flyers.
Skogman publishes these every month. Here are the complete sheets for September 2026 if you would rather see the whole thing.
Numbers are one thing. Your situation is another.
If you are trying to decide whether this is the month to buy, sell, lease, or hold, call me and we will run it against your actual numbers. No commitment, and no pitch about how it is always a great time.
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