Average Rent in Ames, IA↑ Rents rising 2.2% YoY🔺 6th priciest in IA

Ames, IA has rental prices ranging from $875/month to $1,773/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $951/month — 32% below the national average of $1,400/month. With a median household income of $71,090/year, spending $951/month on a 1-bedroom represents 16% of gross income — within the recommended 30% threshold.

How Ames Compares

With an average 2-bedroom rent of $1,056/month, Ames ranks #6 most expensive of the 94 cities tracked in Iowa — pricier than 71% of all US cities in our data.

The Ames Rental Market

The Ames, IA area has a population of about 125,261 and 39% of households renting rather than owning. That renter share runs above the US average of ~34%, pointing to a competitive rental market where vacancies clear quickly and rents are less negotiable.

Rent Trends

2-bedroom rents in Ames, IA have risen by $23/month (2.2%) over the past year, from $1,033 to $1,056. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Ames, IA without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $38,040. The local median household income of $71,090 exceeds that threshold by $33,050, making Ames relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Ames, IA is $304,727, giving a price-to-rent ratio of 24.0. With a break-even horizon of approximately 24 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Neighborhoods

Home values — and by extension rent levels — vary significantly across Ames's neighborhoods. Among the highest-value areas are Oak-Riverside ($222,267 median home value), College Creek/Old Ames ($226,528 median home value), North Old Town ($235,297 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.

Is Ames, IA Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Ames?

Break-even analysis and mortgage estimates based on local market data.

Living in Ames

Cost of living, job market, crime rates, and moving cost estimates.