Another Iowa Citian here (age:24, student) There are actually good raves happening around here all the time. Frankie Bones and Chris Liebing recently headlined a couple. I didn't attend but apparantly they were quality events.
Also as others have said the bar scene here kicks ass. I would venture to say that Iowa City can rival any college party town in the US, including Madison, Wis. and Austin (ok, maybe not Austin).
People think there is nothing in Iowa because there aren't any large cities, but there are a lot of medium sized ones, like 100,000-180,000 people (Des Moines, IC, Cedar Rapids, Cedar Falls, Dubuque, Waterloo, Davenport, etc) . As a state it is more urban than you might think.
I'm still getting the fuck out of here when I graduate though