Why Live in Downtown Cedar Rapids
Downtown Cedar Rapids, straddling the Cedar River, has seen significant revitalization, transforming into a vibrant cultural hub. The area features a mix of new riverfront buildings and improved walkability, with a new bridge set to be completed in 2025. The neighborhood offers a variety of amenities, including shops, restaurants, breweries, and bars. Popular dining spots include Black Sheep Social Club, LP Street Food, and Need Pizza. Residents can enjoy coffee at Dash Coffee Roasters and shop for groceries at Hy-Vee. The Paramount Theatre hosts a range of events, and the annual farmers market features entertainment and numerous vendors. The Freedom Festival, leading up to July Fourth, includes parades and carnivals. Greene Square, the only park in the area, offers a modern art-inspired space for picnicking and gatherings. Cultural attractions include the National Czech & Slovak Museum and the Cedar Rapids Museum of Art. Housing primarily consists of condominiums in converted warehouses or new buildings, with many offering amenities like fitness centers and green spaces. Interstate 380 provides easy commuting, and Eastern Iowa Airport is an 8-mile drive away. While the area has experienced flooding, significant investments have been made in flood protection.
Frequently Asked Questions
Is Downtown Cedar Rapids a good place to live?
Downtown Cedar Rapids is a good place to live. Downtown Cedar Rapids is considered fairly walkable and bikeable with some transit options. Downtown Cedar Rapids has 3 parks for recreational activities. It is fairly sparse in population with 5.5 people per acre and a median age of 37. The average household income is $59,517 which is below the national average. College graduates make up 30.5% of residents. A majority of residents in Downtown Cedar Rapids are renters, with 83.2% of residents renting and 16.8% of residents owning their home. A
local real estate agent serving Downtown Cedar Rapids can help you decide if this neighborhood is the right one for you. Learn more on our
Downtown Cedar Rapids neighborhood guide.
How much do you need to make to afford a house in Downtown Cedar Rapids?
The median home price in Downtown Cedar Rapids is $100,950. If you put a 20% down payment of $20,200 and had a 30-year fixed mortgage with an interest rate of 6.35%, your estimated principal and interest payment would be $500 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $21K a year to afford the median home price in Downtown Cedar Rapids. The average household income in Downtown Cedar Rapids is $60K.
What are the best public schools in Downtown Cedar Rapids?
The best public schools that serve Downtown Cedar Rapids are:
What are the best private schools in Downtown Cedar Rapids?
The best private schools that serve Downtown Cedar Rapids are:
What are the most popular zip codes in Downtown Cedar Rapids, Cedar Rapids, IA?
What are the most popular neighborhoods near Downtown Cedar Rapids, Cedar Rapids, IA?
Are home prices dropping in Downtown Cedar Rapids?
Yes, home prices in Downtown Cedar Rapids are down 1% in the last 12 months.
Home Trends in Downtown Cedar Rapids, IA
On average, homes in Downtown Cedar Rapids, Cedar Rapids sell after 77 days on the market compared to the national average of 52 days. The median sale price for homes in Downtown Cedar Rapids, Cedar Rapids over the last 12 months is $92,500, down 40% from the median home sale price over the previous 12 months.
Median Sale Price
$92,500
Median Single Family Sale Price
$93,500
Median 2 Bedroom Sale Price
$95,900
Median 1 Bedroom Sale Price
$49,000
Average Price Per Sq Ft
$148
Number of Homes for Sale
5
Last 12 months Home Sales
11
Median List Price
$100,950
Median Change From 1st List Price
4%
Median Home Sale Price YoY Change
-40%