This city, centered around the University of Iowa, has a unique market structure where rental demand fluctuates each semester. However, noticeable changes have been detected in the sales market over the past five years.

According to data from Zillow and Realtor.com, the median home price in Iowa City was approximately $210,000 at the beginning of 2021, and as of 2026, it is reported to be around $270,000. This translates to a cumulative increase of about 28% over five years.

Year by year, the steepest rise occurred during the pandemic low-interest period from 2021 to 2022, while from the second half of 2022 to 2023, the impact of the Federal Reserve's interest rate hikes led to a decrease in transaction volume and a noticeable slowdown in price increases. After 2024, a gradual upward trend is expected as the market stabilizes.

Considering that the national average increase is estimated to be around 35-45% during the same period, Iowa City is distinctly lower than the national average. This trend contrasts with emerging Sun Belt cities that have seen increases of over 50%.

The city's unique moderate growth appears to stem from a slower population influx and a stable demand related to the university. Conversely, the lack of ample new supply in the area means that sharp declines are also not common.

A cautious approach is needed regarding future prospects. If interest rates stabilize gradually, there is a possibility of increased transactions, but given the characteristics of Iowa City, a gradual upward trend is expected rather than a sharp spike.

For Korean households, this area seems more suitable for residential purposes, prioritizing school districts and stability. It may be more realistic to approach this market from a long-term holding perspective rather than seeking short-term price gains.