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Investor-friendly real estate agents in Ames, IA
We match investors with vetted Ames-area agents who own rentals, run the numbers, and know the local rules. Free for investors.
Get matched in AmesVetted investor agents across the Ames metro
Ames is a college town, and that's both the appeal and the limit. Iowa State University enrolled 30,772 students in fall 2026, in a metro of about 128,000 people, so student and young-professional renters drive demand. Typical home values in the metro are about $277,000 and typical rent about $1,160, a rent-to-price ratio of about 0.42% a month. That's the weakest of our Iowa numbers, and a median-priced rental with a mortgage won't cash flow. Ames also runs one of the stricter local rental codes in the state: nearly every rental must be registered and pass a city inspection for a Letter of Compliance, and occupancy is capped by bedroom count. Our vetted agent partner grew up in the Ames area, has sold real estate full time since 2010, and managed rentals before that.
Rental purchases in Ames from a full-time agent since 2010 who grew up in the area and managed rental property before selling it.
A partner with a property management background, who can help you plan how the rental will be run, and what the city's rental inspection will look for, before you buy.
Is Ames worth investing in? The long-term trends
People, jobs, rents and prices for the Ames metro, straight from the Census Bureau, the Bureau of Labor Statistics and Zillow. Hover or tap a chart for exact values.
View data table
| Period | Value |
|---|---|
| 2010 | 115,953 |
| 2011 | 117,558 |
| 2012 | 118,375 |
| 2013 | 120,509 |
| 2014 | 122,558 |
| 2015 | 123,658 |
| 2016 | 123,978 |
| 2017 | 124,449 |
| 2018 | 123,806 |
| 2019 | 124,565 |
| 2020 | 125,363 |
| 2021 | 126,451 |
| 2022 | 126,431 |
| 2023 | 127,602 |
| 2024 | 128,145 |
| 2025 | 128,090 |
View data table
| Period | Value |
|---|---|
| 2011 | +63 |
| 2012 | -338 |
| 2013 | +629 |
| 2014 | +602 |
| 2015 | -87 |
| 2016 | -826 |
| 2017 | -748 |
| 2018 | -1,312 |
| 2019 | -367 |
| 2020 | -54 |
| 2021 | +615 |
| 2022 | -567 |
| 2023 | +346 |
| 2024 | -278 |
| 2025 | -645 |
View data table
| Period | Value |
|---|---|
| 2010 | 55,600 |
| 2011 | 56,500 |
| 2012 | 57,500 |
| 2013 | 58,800 |
| 2014 | 60,500 |
| 2015 | 61,900 |
| 2016 | 61,900 |
| 2017 | 62,500 |
| 2018 | 62,500 |
| 2019 | 62,000 |
| 2020 | 59,400 |
| 2021 | 60,500 |
| 2022 | 62,100 |
| 2023 | 62,900 |
| 2024 | 63,200 |
| 2025 | 62,600 |
View data table
| Period | Value |
|---|---|
| Dec 2017 | $921/mo |
| Dec 2018 | $879/mo |
| Dec 2019 | $911/mo |
| Dec 2020 | $957/mo |
| Dec 2021 | $977/mo |
| Dec 2022 | $1,025/mo |
| Dec 2023 | $1,071/mo |
| Dec 2024 | $1,109/mo |
| Dec 2025 | $1,149/mo |
| Sep 2026 | $1,162/mo |
View data table
| Period | Value |
|---|---|
| Dec 2010 | $148,736 |
| Dec 2011 | $148,628 |
| Dec 2012 | $146,413 |
| Dec 2013 | $157,821 |
| Dec 2014 | $166,365 |
| Dec 2015 | $177,753 |
| Dec 2016 | $184,201 |
| Dec 2017 | $192,215 |
| Dec 2018 | $196,820 |
| Dec 2019 | $200,984 |
| Dec 2020 | $212,286 |
| Dec 2021 | $231,999 |
| Dec 2022 | $252,258 |
| Dec 2023 | $257,219 |
| Dec 2024 | $262,967 |
| Dec 2025 | $271,949 |
| Sep 2026 | $277,302 |
View data table
| Period | Value |
|---|---|
| Dec 2017 | 17.4× |
| Dec 2018 | 18.7× |
| Dec 2019 | 18.4× |
| Dec 2020 | 18.5× |
| Dec 2021 | 19.8× |
| Dec 2022 | 20.5× |
| Dec 2023 | 20.0× |
| Dec 2024 | 19.8× |
| Dec 2025 | 19.7× |
| Sep 2026 | 19.9× |
Data retrieved October 16, 2026. Figures cover the Ames metro area.
The numbers and rules that matter in Ames
Zillow Home Value Index, Ames metro, Sep 2026 (+2.6% YoY).
Zillow Observed Rent Index, all home types, Sep 2026 (+2.7% YoY). Single-family 3-beds rent higher.
Typical rent ÷ typical home value. Well under the 1% rule; plan on cash flow from buying right, not from rents.
Over the past year: home values +2.6%, rents +2.7%.
Iowa landlord-tenant basics (and the Ames rental code)
Iowa's rules for most residential rentals are in the Uniform Residential Landlord and Tenant Law, Iowa Code chapter 562A. Ames adds its own rental housing code (Municipal Code chapter 13). The points investors ask about most:
- No rent control: state law (Iowa Code § 364.3) bars cities from limiting the rent charged on private residential property. There's no statewide cap on increases either.
- Nonpayment (§ 562A.27): if rent is unpaid when due, give the tenant written notice of nonpayment and of your intent to end the lease. If they don't pay within 3 days, you can terminate and file for possession.
- Security deposit cap (§ 562A.12): no more than 2 months' rent. Within 30 days after the tenancy ends and you receive the tenant's mailing address, return it or give a written statement of the specific reasons for keeping any of it.
- Entry (§ 562A.19): give at least 24 hours' notice and enter only at reasonable times, except in an emergency or where notice is impracticable.
- Ames registration and Letter of Compliance: almost every rental must be registered with the city before you advertise it, and you can't rent it without a valid (or pending) Letter of Compliance, issued after a city inspection. Letters run one to four years and are renewed only by re-inspection. The first inspection and one re-inspection are free; later ones cost extra. The city can order rent abated if you rent without one. Owner-occupied single-family homes with no unrelated adult tenants are exempt.
- Ames occupancy caps: the city limits adult occupants by bedroom count (3 adults for a one- to three-bedroom unit, 4 for four bedrooms, 5 for five or more). In the near-campus neighborhoods, adding bedrooms doesn't raise the cap. Don't use the assessor's bedroom count; the rental code counts bedrooms differently. The city says it's updating these rules to line up with state law, so confirm the current cap for a specific property.
Short-term rental rules in Ames
Iowa limits how far cities can regulate short-term rentals. Under Iowa Code § 414.1, a short-term rental is a home or unit rented for 30 days or less, and it's treated as a residential use for zoning. Ames still has its own guest lodging code.
- State preemption: a city can't adopt or enforce rules specific to short-term rentals, including conditional use permit requirements, and can't charge a short-term rental license or permit fee. Cities can still enforce fire and building safety, noise, property maintenance and nuisance rules.
- Ames guest lodging (Municipal Code chapter 35): an owner-occupied home that is the owner's primary residence can register for short-term rental with no fee, after a city inspection. Registration is renewed every year, and a home share is limited to 90 days a year.
- A short-term rental that isn't registered under chapter 35 is treated as a regular rental under the city's rental code: registration and a Letter of Compliance. We couldn't confirm how Ames reconciles its code with the state law above. Ask the city before underwriting an investor STR.
- Taxes: Iowa's 5% state hotel and motel tax applies to stays of up to 90 days, plus any local hotel and motel tax on stays of 31 days or less. Airbnb, VRBO and other marketplaces collect and remit these on their bookings; on direct bookings you get a permit and remit them yourself.
- Demand is lumpy: Iowa State football weekends, graduation and move-in fill rooms, and quiet weeks don't. HOA rules, condo bylaws and your lender can also restrict STRs.
Last reviewed October 16, 2026. General information, not legal or tax advice — rules and fees change, so confirm with the city, the statute, or your attorney before you rely on them. Sources: Zillow Research data (ZHVI, ZORI) — Ames metro; Iowa State University Registrar — Enrollment statistics; Iowa Code ch. 562A — Uniform Residential Landlord and Tenant Law; Iowa Code § 562A.27 — Noncompliance with rental agreement (nonpayment); Iowa Code § 562A.12 — Rental deposits; Iowa Code § 562A.19 — Access; Iowa Acts 2000, ch. 1083 — City and county rent control prohibited; Iowa Code § 414.1 — City zoning; short-term rentals; City of Ames — Rental property regulations; City of Ames — Rental occupancy standards; City of Ames Municipal Code ch. 13 — Rental housing code; City of Ames Municipal Code ch. 35 — Guest lodging code; Iowa Department of Revenue — Iowa hotel and motel tax; Iowa Department of Revenue — Lodging FAQ.
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Questions investors ask about Ames
Which areas does your Ames agent cover?
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Our vetted agent partner grew up in the Ames area, has worked full time with RE/MAX since 2010, and managed rental property before that. Tell us your strategy, budget and target neighborhoods and we'll match you.
Is Ames a good market for cash-flowing rentals?
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Not at median prices with a mortgage. Typical rent-to-price in the Ames metro is about 0.42% a month, far below the 1% rule. Investors who do well here buy below median, rent by the bedroom within the city's occupancy cap, or put more cash down, and they budget for a turnover every August.
Do I need a Letter of Compliance to rent out a house in Ames?
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Almost always, yes. Ames requires nearly every rental to be registered and to hold a Letter of Compliance from a city inspection before you rent it, and the city can order rent abated if you don't. Owner-occupied single-family homes without unrelated adult tenants are exempt. Ask your agent how a house is likely to do on inspection before you buy.
How many students can live in an Ames rental?
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The city caps adult occupants by bedroom count: 3 for a one- to three-bedroom unit, 4 for four bedrooms and 5 for five or more, and adding bedrooms near campus doesn't raise the cap. The city is updating these rules to match state law, so confirm the cap for a specific property before you count on the rent.
Is Iowa landlord-friendly?
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Mostly. State law bars local rent control, there's no cap on rent increases, and you can terminate for nonpayment after a 3-day written notice. Deposits are capped at 2 months' rent and must be returned or accounted for within 30 days. Ames adds registration, inspections and occupancy caps.
What does it cost to get matched with an Ames agent?
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Nothing. Agents Invest is free for investors. The agent pays us a referral fee only if you close a deal with them.
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