Des Moines, IA
Polk County · Pop. 214,133
Ranked #27 of 243 cities
56Moderate
Median Home Price
🏠$220K
3.5% YoY
Median Rent
🔑$1,100
2.5% YoY
Median Income
💰$52K
Rent Burden
📊28.0%
% of income to rent
Income to Buy
🏦$63K
annual income needed
Income to Rent
📝$44K
annual income needed
Price-to-Income
⚖️4.2x
Homeownership
🏡58.0%
Rent vs. Buy
Buy
$1,171/mo
Est. mortgage (7%, 20% down)
Need $63K/yr income
Rent
$1,100/mo
Median rent
Need $44K/yr income
How Des Moines Compares
| Metric | Des Moines | Iowa | National |
|---|---|---|---|
| Home Price | $220K | $213K | $410K |
| Rent | $1,100 | $949 | $1,500 |
| Income | $52K | $71K | $75K |
| Rent Burden | 28.0% | 26.0% | 30.0% |
Key Takeaways
- • Home prices in Des Moines are 46% lower than the national average.
- • Rent is 27% lower than the national average.
- • You need an income of $63K to comfortably buy a home here.
- • The homeownership rate is 58.0%, compared to 65.0% nationally.