Market Analysis

Des Moines Rental Market

Rental investment market data and analysis · Updated November 2026

Median Home Price

$258,500

Average Monthly Rent

$1,065

Estimated Cap Rate

4.9%

Rent-to-Price Ratio

0.4%

Below 1% Rule

Rent ÷ price by zip code

0 of 4 clear the 1% rule · November 2026

ZipMedian priceMedian rentRent ÷ price
50314$189,900$8950.47%
50320$285,000$1,2500.44%
50309$310,000$1,2650.41%
50311$232,000$8500.37%

Context · FRED home price index

Market Trends

Des Moines metro area — % change since 2018

Home Prices

+58.1%

Rent Index

+36.2%

-2%10%23%35%48%60%20182020202220242026

Average Rent by Bedroom

BedroomsAvg Rent
Apartment$910/mo
Condo$1,031/mo
Multi-Family$1,047/mo
Single Family$1,559/mo
Townhouse$1,598/mo

Sample Investment Analysis

Based on median price + average rent, 20% down, 6.8% rate, 30yr

Purchase Price$258,500
Down Payment (20%)$51,700
Monthly P&I$1,348
Monthly Rent$1,065
Est. NOI$7,668/yr
Est. Cash Flow-$709/mo
Cash on Cash-15.0%

The Des Moines market is cash-flow negative at median prices. Look for properties 15-20% below median or with value-add potential.

What Investors Should Know About Des Moines

  • 1Compressed cap rates below 5% — focus on appreciation or value-add deals
  • 21% Rule fails at median prices — need rent of $2,585/mo to pass
  • 3Below-average rents keep entry costs low for new investors

Ready to analyze a property in Des Moines?

Get instant cap rate, cash flow, and DSCR analysis on any address. Access data on 140M+ properties.