Ottumwa, Iowa Real Estate & Housing Market

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Ottumwa Housing Information

Index	Ottumwa	Iowa	National
Median home price	$73,200	$132,800	$184,700
Median rent asked	$624	$715	$949
Avg. people per household	2.3	2.4	2.6
Owner occupied households	67.4%	71.1%	63.6%
Renter occupied households	32.6%	28.9%	36.4%

Above, you will see a summary of real estate in Ottumwa, IA. On average, homes in Ottumwa, IA cost $73,200, a value that is 45% lower than the average in Iowa. In general terms, this results in Ottumwa, IA real estate being more affordable than Iowa real estate. On average, people who rent houses in Ottumwa, IA pay $624; this value is 13% lower than the average amount renters pay in Iowa. 67.4% of Ottumwa, IA residents own their own homes and, on average, each of the homes has 2.3 occupants. Ottumwa, IA real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Ottumwa, IA is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Ottumwa Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Ottumwa, IA. To estimate home affordability, one method is to use the ratio of home price to median household income. The Ottumwa, IA’s median home price stands at $73,200 while $38,090 is the value of the average household income. The resulting home price to income ratio, which is 1.9x, differs from the Iowa average as the ratio is 21% lower than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Ottumwa, IA are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Ottumwa, IA.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Chillicothe, IA	97	$47,100	74%
Floris, IA	246	$50,000	73%
Unionville, IA	78	$51,700	72%
Eldon, IA	890	$52,200	72%
Kirkville, IA	179	$52,800	71%
Ottumwa, IA	24,709	$73,200	60%

Cities with similar population

City, State	Population	Home Price	National Avg.
Emporia, KS	24,707	$87,800	52%
Mauldin, SC	24,723	$154,800	16%
Inkster, MI	24,738	$45,000	76%
Sanger, CA	24,741	$168,000	9%
Ponca City, OK	24,753	$86,000	53%
Ottumwa, IA	24,709	$73,200	60%

Source: The Ottumwa, IA housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).