Mills County, Iowa Housing Market
In Mills County, Iowa, the median home value is $237,800, with a median monthly rent of $959. This places Mills County at #1008 nationally out of 3134 counties by median home value, and #10 within Iowa.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,131
- Establishments: 438
- BLS QCEW, 2025
Housing Supply
- Single-family: 17
- Multi-family: 8
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 5,816 (avg $95,369)
- Outflow: 5,476 (avg $97,033)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 3 active ZIP codes in Mills County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 51503 | 223.5 | +3.20% | 2025 |
| 2 | 51534 | 214.4 | -0.40% | 2025 |
| 3 | 51561 | 202.6 | +16.76% | 2022 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Mills County Compares
| Metric | Mills County | Iowa Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $237,800 | $171,037 | $227,706 |
| Median Gross Rent | $959 | $832 | $968 |
| Owner Occupancy Rate | 83.5% | 75.8% | 73.3% |
| Price/Rent Ratio | 20.7 | 17.0 | 18.7 |
Market Analysis
The median home value in Mills County is 39.0% above the Iowa state average and 4.4% above the U.S. national average. The median rent of $959/month is 15.3% above the state average.
With a price-to-rent ratio of 20.7, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Mills County has an owner-occupancy rate of 83.5%, compared to 75.8% in Iowa and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Oktibbeha County | Mississippi | $237,700 | $915 |
| Codington County | South Dakota | $237,700 | $938 |
| Las Animas County | Colorado | $237,600 | $891 |
| Morgan County | Indiana | $237,600 | $1,042 |
| Nelson County | Kentucky | $238,000 | $1,008 |
Other Counties in Iowa
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Dubuque County | $237,300 | $959 | 73.3% |
| Marion County | $233,000 | $884 | 77.7% |
| Madison County | $245,100 | $1,036 | 80.1% |
| Lyon County | $230,000 | $843 | 80.9% |
| Plymouth County | $228,900 | $910 | 73.6% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).