True Cost of Renting in Cedar Rapids, IA
Cedar Rapids is Iowa's second-largest city, home to Collins Aerospace (defense/avionics), Quaker Oats (largest single cereal-producing factory in the world on the Cedar River), and a growing tech ecosystem. The New Bohemia (NewBo) arts district has become one of Iowa's most interesting urban neighborhoods at prices that are genuinely hard to believe.
Neighborhoods & Average Rents
New Bohemia District (NewBo)
- Studio:
- $700/mo
- 1 Bed:
- $900/mo
- 2 Bed:
- $1,300/mo
Cedar Rapids' arts and restaurant corridor in the Czech Village/New Bohemia neighborhoods; NewBo City Market, farm-to-table restaurants, and galleries. MidAmerican Energy electric. Czech Village historic district nearby. Gentrifying but still affordable by any standard.
Downtown Cedar Rapids
- Studio:
- $650/mo
- 1 Bed:
- $850/mo
- 2 Bed:
- $1,200/mo
Rebuilt after the 2008 flood; new construction along the Cedar River with flood protection infrastructure. Convention complex and arena nearby. Alliant Energy events center. Best connectivity to I-380 and major employers. Cedar Rapids' most modern residential option.
Utility Providers
- Electric
- MidAmerican Energy
- Water
- Cedar Rapids Water Pollution Control
- Internet
- Mediacom, MetroNet, CenturyLink
Commute & Transportation
Cedar Rapids is 25 miles north of Iowa City on I-380. The Eastern Iowa Airport (CID) offers United, Delta, and American connections. I-380 connects to I-80 at Iowa City. Collins Aerospace (RTX) is Cedar Rapids' largest employer with 7,000+ employees — its aerospace manufacturing facilities are on the eastern edge of the city. Quaker Oats' Cedar Rapids facility is one of the world's largest food manufacturing operations. Cargill grain processing and CRST trucking are also major employers.
Rental Market Overview
Cedar Rapids offers exceptional rental value. MidAmerican Energy's low rates apply here too ($0.09–0.11/kWh). Collins Aerospace (defense contracts) provides recession-resistant employment. The 2008 flood devastated downtown Cedar Rapids, but the subsequent decade of rebuilding created modern infrastructure and new apartment stock. For defense industry workers at Collins Aerospace, Cedar Rapids offers 1BR apartments at $850–1,000 — a fraction of comparable defense tech corridors on the coasts.
Data last updated: 2026-04
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