ZIP 52240
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Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
August. Asking rents in ZIP 52240 usually run 2.1% below trend in August and 1.9% above it in December, about $65 a month apart at today's median. Based on 9 years of data.
Rent in ZIP 52240 is at its highest level since Zillow's records here began in October 2017.
Rent in ZIP 52240 changed +7.9% over the year to September 2026. Across the 45 Iowa ZIP codes Zillow tracks, the typical change was +4.3%.
From 2019 to 2024, rent in ZIP 52240 rose 27.3% while median household income rose 23.3% ($42,959 to $52,960). Rent outpaced income.
Rent in ZIP 52240 is 41.3% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 4 months in a row, and rose in 11 of the last 12 months.
30% of the median household income ($52,960) is $1,324 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,210); a 3-bedroom is $1,680.
2nd cheapest of 3 ZIP codes in Iowa City.
ZIP 52241, 7 miles away, rents for 21% less ($1,282/mo), about $4,100 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 52240. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 52240 (Iowa City, IA) is roughly split between renters and owners, skews toward younger working-age adults, has a median income below the national average, 47.6% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 52240 in Iowa City, IA has changed in 5 years
Since 2021, the typical rent in ZIP 52240 in Iowa City, IA has increased from $1,221 to $1,625, a 33.1% change over five years. Household income in the area moved from $52,256 to $52,960 across the same window, up 1.3% versus 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has contracted by 3.6% since 2021, moving from about 36,370 residents to roughly 35,074. Reading these numbers side by side helps frame whether current listings in ZIP 52240 in Iowa City, IA look reasonable against where the market sat half a decade ago.
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Tips for renters in ZIP 52240
Last updated: October 17, 2026
ZIP code 52240 covers Iowa City, IA. The median rent here is $1,625/mo as of October 2026. A 1-bedroom rents for a median of $1,020/mo. A 2-bedroom rents for a median of $1,210/mo.
At 37% of local median household income ($52,960/yr), ZIP 52240 ranks as moderate compared to the national benchmark of 30%. Rents have increased 7.9% over the past year.
Frequently asked questions
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How does ZIP 52240 compare to other ZIPs in Iowa?
How does ZIP 52240 compare to the rest of Iowa City?
At $1,625/mo, rent takes ~37% of ZIP 52240's median household income ($52,960/yr). The standard benchmark is 30%.
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