Davenport, IA Housing Market

Market Overview

Davenport, IA posts a PropertyIQ Score of 85 out of 100, placing it in strong territory among real estate markets. The score is supported by a 9.82% 12-month home value momentum figure, a median days-on-market of 40 days, and a relatively modest share of listings with a price cut at 18.2%. However, the 3-month home value momentum of -0.27% indicates that price growth has cooled slightly in the most recent quarter. The listed year-over-year home value change is $1, which appears inconsistent with the 12-month momentum figure and should be read cautiously.

Davenport’s affordability profile stands out against state benchmarks. The median home value of $196,628 is well below the Iowa state average of $297,573, while the rent index of $1,009 is below the state average of $1,274. Median household income in Davenport is $72,738, compared with $83,390 statewide, but because home values are roughly one-third lower, the local housing cost burden is comparatively lighter. Unemployment is identical to the state average at 4.9%.

With 845 homes for sale and a median marketing time of 40 days, the market is active but not frenzied. The 18.2% share of listings with a price cut points to some seller flexibility, while the strong 12-month momentum suggests underlying demand has not faded. The data support a moderate-to-strong market with an affordability edge.

Key Trends

First, home value momentum is mixed but leaning positive. The 12-month momentum of 9.82% is a top score driver and signals meaningful annual price growth, while the 3-month figure of -0.27% suggests the pace has cooled slightly entering the most recent period. This combination points to a market that appreciated over the past year but may be entering a leveling-off phase.

Second, affordability remains a defining feature. At $196,628, Davenport’s median home value is about two-thirds of the state’s $297,573 median. The rent index of $1,009 is also roughly 21% below the state average of $1,274. Although median household income is lower than the state benchmark, the gap in home values is larger than the income gap, giving local households a relative affordability advantage.

Third, market speed and seller behavior indicate balance. The median days on market of 40 days shows homes are still moving relatively quickly, but 18.2% of listings have had a price cut, meaning nearly one in five sellers has adjusted pricing to attract buyers. This suggests buyers retain some negotiation power even as demand holds up.

Fourth, inventory is measurable but not excessive. There are 845 homes for sale, an absolute level that supports buyer choice. Without a state inventory benchmark in the provided data, it is difficult to say whether this is high or low, but combined with 40 days on market, it points to steady turnover rather than a deep buyer’s or seller’s market.

Who Is This Market For

Davenport’s profile is well suited to first-time buyers and value-focused investors. First-time buyers should find the median home value of $196,628 more approachable than the state average of $297,573, especially with median household income at $72,738 and unemployment at the state average of 4.9%. The 40-day median time on market means well-priced homes may sell quickly, so buyers should be prepared to act, while the 18.2% price-cut share still offers some room for negotiation.

Investors may also find this market attractive. The rent index of $1,009 paired with a median home value below $200,000 creates a lower-cost entry point than many parts of the state, where the median home value is $297,573 and rent index is $1,274. The steady employment picture and moderate days on market can support rental demand, though population growth data is not available, so investors should note that demographic trends cannot be fully assessed from the provided metrics.

Move-up buyers may find opportunity as well, but the recent 3-month momentum of -0.27% suggests they should not rely on rapid short-term appreciation. The strong 12-month momentum of 9.82% indicates that longer-term value gains have occurred, which can help existing owners build equity. Overall, the market rewards affordability-conscious buyers and investors who can move quickly on reasonably priced listings.

Outlook

Davenport’s outlook is cautiously positive. The 12-month home value momentum of 9.82% remains the strongest forward signal, indicating that demand and pricing have been resilient over the past year. At the same time, the 3-month momentum of -0.27% and the 18.2% share of listings with a price cut suggest that price growth may be moderating in the near term. With a median days on market of 40 days and 845 homes for sale, the market appears active but not overheated. Affordability should continue to be a supporting factor, as local home values and rents sit well below state averages while unemployment matches the state rate at 4.9%. The main limitation is the missing population growth data, which prevents any definitive read on long-term demand. Absent that, the numbers support a stable to mildly positive near-term trajectory.