Commercial Real Estate Market in Cedar Rapids, IA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
784 active listings and 4,532 off-market properties in Cedar Rapids, IA. Commercial property asks $109/SF to buy and $13.04/SF/Yr to lease.
Market Trends
Cedar Rapids, IA spans 129.2 square miles in Linn County, Iowa. Figures below refresh monthly; last updated 31 August 2026.
Office
Office space in Cedar Rapids, IA asks $15.00/SF/Yr to lease and $136/SF to buy. Vacancy runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Retail
Retail space in Cedar Rapids, IA asks $152/SF to buy. Vacancy runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Cedar Rapids, IA runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily space in Cedar Rapids, IA asks $115/SF to buy. Vacancy runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Cedar Rapids, IA has 145,125 residents in 67,220 households. Density runs 1,123 people per square mile. Median household income here is $72,583 and median gross rent $960 a month.
145,125
Population
67,220
Households
2.2
Avg Household Size
37
Median Age
33%
College-Educated
94%
High-School Grad
129.2 sq mi
ZIP Area
1,123
Density / Sq Mi
$72,583
Median Household Income
$43,765
Median Earnings
$960
Median Rent
$189,809
Median Home Value
Tools
Lease vs Buy Breakeven
At $13.04/SF/Yr lease vs $109/SF buy → buying wins if held > 1 years.
At a 12% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Marion | — | $13.62 |
| Hiawatha | — | $10.07 |
| Covington | — | — |
| Bertram | — | — |
Commercial property in Cedar Rapids, IA asks $109/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Cedar Rapids?
Commercial property in Cedar Rapids, IA asks an average of $109 per square foot. The 5 most recent recorded sales traded at a median of $97/SF, so asking sits 12% above the achieved median. Retail carries the highest asking price at $152/SF.
How much does it cost to lease commercial space in Cedar Rapids?
Asking lease rates in Cedar Rapids, IA average $13.04 per square foot per year. Office asks $15.00/SF/Yr as of Q1 26, up from $13.00/SF/Yr in Q2 25.
Is it cheaper to lease or buy commercial space in Cedar Rapids?
Buying beats leasing in Cedar Rapids, IA if the property is held longer than 1.0 years, comparing $13.04/SF/Yr asking rent with $109/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's Cedar Rapids market data come from?
Realmo compiles Cedar Rapids, IA figures from 6 recent recorded sales, 331 active sale listings, 453 active lease listings, 4,532 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 331 active for-sale and 453 active for-lease listings in Cedar Rapids, IA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
