NAICS 52

Finance and Insurance in Cedar Rapids, IA

Metro Market Score 75.8 (Difficult), ranked #319 of 331 metros. 611 establishments, 7,775 jobs.

Metro Market Assessment

Metro Market Score 75.8
Favorable 0-35
Moderate 35-48
Challenging 48-60
Difficult 60+
Difficult

ⓘ Lower is better. Relative to national finance and insurance average.

Finance and Insurance employment in Cedar Rapids contracted year-over-year, placing the growth trend in the bottom 10% at 19.6. Declining job counts can indicate consolidation, population shifts, or reduced local demand. Due diligence on the local economy is especially important here.

Industry Concentration
95.5
LQ: 1.39
Rank #316 of 331 metros
Wage Competitiveness
71.9
$101,805 avg wage
Growth Trend
↓ 19.6
Employment growth index
Rank #267 of 331 metros
Wage Pressure
49.4
YoY wage change index

611 Finance and Insurance Firms in Cedar Rapids

611
Establishments
-0.2% YoY
7,775
Total Employment
-4.0% YoY
$101,805
Average Annual Wage
+7.5% YoY
1.39
Location Quotient
Above national avg

Cedar Rapids vs Iowa Statewide

How this metro's finance and insurance market compares to Iowa overall. The state ranks #35/51 for entry risk.

Measure Cedar Rapids IA Statewide
Overall Score 75.8 Difficult 54.3 Elevated
Score Type Metro Market Score Entry Risk Score
Rank #319 of 331 metros #35 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Cedar Rapids

Real Estate and Rental and Leasing 26.2 Accommodation and Food Services 34.4 Retail Trade 45.2 Construction 49.8 Other Services 57.9 Information 70.9

Finance and Insurance in Other Iowa Metros

Ames 24.0 #16/331 Sioux City 49.1 #164/331 Davenport-Moline-Rock Island 52.8 #195/331 Iowa City 59.2 #241/331 Des Moines-West Des Moines 60.0 #246/331 Dubuque 60.1 #247/331

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Cedar Rapids's finance and insurance sector, the employment growth component (80.4) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Data period: 2024. Last updated: April 2026.