Investing in Johnson County
Johnson County covers 3 rental markets we actively finance in Iowa — Coralville, Iowa City, North Liberty. Across those markets the median investment basis averages $295,000, a long-term lease averages $1,925/month, and the average all-in PITIA on a DSCR loan at the minimum down payment is $2,134. That produces a county-wide average DSCR ratio near 0.90x.
Basis varies more inside Johnson County than the average suggests. Coralville is the lowest entry point at roughly $285,000, while Coralville currently models the strongest coverage ratio in the county at 0.98x. When two towns in the same county ratio differently, it is almost always the rent-to-price relationship rather than the rate — the same loan pricing applies county-wide, so the deal is won on which submarket you buy in.