Side-by-side comparison of Cedar Rapids, IA and Ames, IA — cap rates, rent, prices, and investment metrics.
Cash flow: Cedar Rapids has the edge with an estimated cap rate of 4.16% compared to Ames's 3.33%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $185,000 in Cedar Rapids vs $235,000 in Ames, while rents come in at $1,050/mo and $1,150/mo respectively.
Growth & appreciation: Ames is growing faster at 0.8% annually vs Cedar Rapids's 0.4%. Ames leads on home value appreciation at 2.5% per year.
Costs & risk: Property taxes are 1.48% in Cedar Rapids vs 1.5% in Ames. Vacancy rates of 5.5% and 4.2% are both healthy, suggesting strong tenant demand in both markets.
Bottom line: Cedar Rapids edges out Ames on most key metrics. While cap rates are moderate at 4.16%, Cedar Rapids's overall profile is stronger. Use our free calculators to model specific deals in Cedar Rapids or Ames.