Dynamic contrast-enhanced magnetic resonance imaging (DCE-MRI) produces metrics of lung perfusion at the capillary level. To date, little assessment of patients with idiopathic pulmonary fibrosis (IPF) has been reported with DCE-MRI. In fourteen patients with IPF, we found that regions of low flow and high transit times were associated with anatomical disease. Whole lung metrics of transit time and heterogeneity of blood volume demonstrated a relationship with pulmonary function tests. Such functional imaging strategies may be useful in quantifying functional changes in the pulmonary vasculature in IPF.