Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 5,401, 2,178 total housing units (homes and apartments), and a median house value of $126,171, house prices in Iola are solidly below the national average.
Single-family detached homes are the single most common housing type in Iola, accounting for 82.07% of the city's housing units. Other types of housing that are prevalent in Iola include large apartment complexes or high rise apartments ( 6.36%), mobile homes or trailers ( 4.83%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.53%).
The most prevalent building size and type in Iola are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.68% owning and 45.32% renting.
The housing in Iola was primarily built before 1939 ( 35.78%), making the housing stock in Iola some of the oldest overall in America, although there is a range of ages of homes in Iola. The next most important housing age is between 1970-1999 ( 30.69%), followed by between 1940-1969 ( 25.41%). There's also some housing in Iola built between 2000 and later ( 8.12%).
Vacant housing appears to be an issue in Iola. Fully 18.49% of the housing stock is classified as vacant. Left unchecked, vacant Iola homes and apartments can be a drag on the real estate market, holding Iola real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Iola's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Iola during the period has been just 4.97%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Iola's appreciation rate, at 6.05%, has been at or slightly above the national average. In the latest quarter, Iola's appreciation rate has been 4.94%, which annualizes to a rate of 21.27%.
Importantly, this makes Iola one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Kansas, our data show that Iola's latest annual appreciation rate is lower than 60% of the other cities and towns in Kansas.
$126,171
for Kansas
for nation
2,178
$1,167 / per month