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Panora, IA Homes for Rent

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    $850 Per Month

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

    502 W Market St Unit 201, Panora, IA 50216

    Property Id: 1594889New ownership and new management! Our apartment homes are beautiful! We have replaced cabinets, countertops, doors, trim, windows, and more. In addition, we have made multiple updates to common areas inside and outside of the building. Brand new card-operated washers and dryers provide on-site convenience. Outdoor benches and picnic tables are coming soon for your

    (641) 323-5405

    502 W Market St Unit 201, Panora, IA 50216
  • /14

    $800 Per Month

    • 1 Bed
    • 1 Bath
    • 650 Sq Ft
    • Condo for Rent

    107 N 1st St, Panora, IA 50216

    Newly renovated and spacious 1-bedroom apartment in the heart of downtown Panora! Located right on the town square, you’ll enjoy the convenience of being within walking distance of Casey’s, local coffee shops, restaurants, and retail stores. This large apartment features updated finishes, plenty of living space, and a private walkout balcony. A laundromat is conveniently located

    107 N 1st St, Panora, IA 50216

Why Live in Panora

Panora, located in Guthrie County, Iowa, offers a blend of small-town charm and recreational opportunities, making it a unique place to live. The city is known for Panorama Lake, a popular spot for boating and golfing, and features attractions like Lenon Mill Park and Michael Mills Memorial Park, which provide options for fishing, RV camping, and sports. The Raccoon River Valley Trail runs through Panora, offering scenic nature strolls. Homes in Panora range from traditional two-story houses with front porches to ranch and Victorian styles, mostly developed throughout the 20th century. The town center homes are less expensive compared to those by the lake and typically feature smaller yards. Panora is served by the Panorama School District, which includes Panorama Elementary, Middle, and High Schools, all offering various learning programs. Main Street hosts several dining options such as Los Altos Mexican Restaurant, The Lake Panorama Pizzeria, and Pedal-In, along with shops like Crafty’s Coffee and Gifts, an antique store, and a 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 $825 per month, though prices vary by neighborhood, size, and property type. As of June 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 $33,000 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 $825 per month in Panora, IA, renters typically need to show $2,475 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 57.1, 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 Trends in Panora, IA

Rental Home Trends

Number of Homes for Rent
2
Median Rent
$825
Median Single Family Home Rent
$1,150
Median Condo Rent
$825
How to Rent a Home