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Panora, IA Home for Rent

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    $850 Per Month

    • 2 Beds
    • 1 Bath
    • 650 Sq Ft
    • Condo for Rent

    502 W Market St Unit 102, Panora, IA 50216

    Property Id: 1651969 Under new local management! Market Street Apartments has been newly renovated. The units boast modern updates including LVP flooring, new cabinets, countertops, fresh paint, new trim, new doors, and more. Newer card operated washers and dryers provide on site convenience. Outdoor benches and picnic tables are provided for your enjoyment. Located just 2 blocks from

    502 W Market St Unit 102, Panora, IA 50216

Why Live in Panora

Panora, located in Guthrie County, Iowa, offers a blend of small-town charm and recreational opportunities. Homes in Panora range from traditional two-story houses with front porches to ranch and Victorian styles, mostly developed throughout the 20th century. Homes in the town center homes tend to be less expensive than those by the lake. Panorama Lake is a popular spot for boating, and Lenon Mill Park and Michael Mills Memorial Park provide space for fishing, RV camping and sports. The Raccoon River Valley Trail also runs through Panora, and it's a popular spot for nature strolls. Panora is served by the Panorama School District, which includes Panorama Elementary, Middle and High Schools. Most businesses are centered along Main Street. You can find restaurants like the Lake Panorama Pizzeria and Pedal-In, along with shops like Crafty’s Coffee and Gifts and the local grocery store, Hometown Foods. Community events in Guthrie County include Art in the Village Square, Guthrie County Fair and holiday celebrations at the Guthrie County Historical Village and Museum. Panora is a car-dependent area, with Guthrie Center and Guthrie County Hospital 8 miles west and downtown Des Moines about 50 miles east.

Frequently Asked Questions

How much does it cost to rent a home in Panora, IA?
The median rent for a home in Panora, IA is $850 per month, though prices vary by neighborhood, size, and property type. As of August 2026, condos tend to be the most affordable option while single-family homes are currently more expensive.
How much do you need to make to afford rent in Panora, IA?
To comfortably afford the median rent in Panora, IA, a household needs to earn roughly $34,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $850 per month in Panora, IA, renters typically need to show $2,550 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Panora, IA?
In Panora, IA, the price-to-rent ratio is 52.5, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
1
Median Rent
$850
Median Single Family Home Rent
$1,150
Median Condo Rent
$850
How to Rent a Home