Red Oak, IA housing market
The typical Red Oak home is worth about $138,000, down 2.7% in a year, 42% below the Iowa typical home.
Home values, sales, trends and how Red Oak compares with the towns next door — updated as new data is published.
Red Oak at a glance
Typical home value, 2016–2026
Show as a table
| January | Red Oak | Iowa |
|---|---|---|
| 2017 | $84,000 | $147,000 |
| 2018 | $80,000 | $152,000 |
| 2019 | $89,000 | $159,000 |
| 2020 | $94,000 | $167,000 |
| 2021 | $105,000 | $179,000 |
| 2022 | $110,000 | $195,000 |
| 2023 | $120,000 | $211,000 |
| 2024 | $129,000 | $218,000 |
| 2025 | $136,000 | $228,000 |
| 2026 | $141,000 | $236,000 |
| August 2026 | $138,000 | $240,000 |
24 new homes permitted in 2025
Builders were permitted 24 new homes in Red Oak in 2025: 1 single-family house and 23 in buildings with two or more homes, worth about $4.1 million to build. That's 4.4 per 1,000 residents, about the pace of Iowa as a whole. Over the past 10 years, Red Oak has permitted 50 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Red Oak's population fell by 146 even though 40 new homes were permitted. Homes are holding fewer people: households are getting smaller, or more homes are used part of the year. Across Iowa: 1.3 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 6 | 1 | 5 | $1.2 million |
| 2025 | 24 | 1 | 23 | $4.1 million |
| 2024 | 6 | 6 | 0 | $2.2 million |
| 2023 | 4 | 4 | 0 | $1.8 million |
| 2022 | 1 | 1 | 0 | $85,000 |
| 2021 | 1 | 1 | 0 | $142,000 |
| 2020 | 2 | 0 | 2 | $229,000 |
| 2019 | 2 | 2 | 0 | $564,000 |
| 2018 | 2 | 2 | 0 | $300,000 |
| 2017 | 2 | 2 | 0 | $286,000 |
| 2016 | 6 | 4 | 2 | $1.4 million |
| 2015 | 14 | 0 | 14 | $1.6 million |
| 2014 | 5 | 3 | 2 | $848,000 |
| 2013 | 3 | 3 | 0 | $875,000 |
| 2012 | 3 | 1 | 2 | $275,000 |
| 2011 | 1 | 1 | 0 | $200,000 |
| 2010 | 2 | 2 | 0 | $177,000 |
| 2009 | 1 | 1 | 0 | $172,000 |
| 2008 | 2 | 2 | 0 | $300,000 |
| 2007 | 1 | 1 | 0 | $150,000 |
| 2006 | 5 | 3 | 2 | $945,000 |
| 2005 | 5 | 5 | 0 | $691,000 |
| 2004 | 0 | 0 | 0 | — |
| 2003 | 2 | 2 | 0 | $262,000 |
| 2002 | 3 | 3 | 0 | $397,000 |
| 2001 | 5 | 5 | 0 | $546,000 |
| 2000 | 2 | 2 | 0 | $49,000 |
How Red Oak ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
2.8 years of income
The typical Red Oak home costs about 2.8 years of the town's median household income, less than across Iowa (3.2 years).
How Red Oak ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $960
HUD's Fair Market Rent for a two-bedroom in Red Oak is $960 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Red Oak pay a median of $812, so moving in tends to cost more than staying put. A two-bedroom takes about 23% of the town's median household income.
Studio $730 · 4 bedrooms $1,410
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (51566; Omaha-Council Bluffs, NE-IA HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.