The typical owner-occupied home in Des Moines is worth about $194,700, 6% below the Iowa median of $208,000 and 41% below the national median of $332,700. Owners pay a median $3,496 a year in property taxes, about 1.80% of their home's value, higher than the Iowa rate of 1.39%. The median household earns $65,932 a year, so the median home costs 3.0 times the median income (2.8 times for Iowa). 60% of occupied homes here are lived in by their owners, and 68% of those owners still have a mortgage.
Des Moines at a glance
| Des Moines | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $194,700 | $208,000 | $332,700 |
| Median property tax paid per year | $3,496 | $2,897 | $3,119 |
| Property tax as a share of value | 1.80% | 1.39% | 0.94% |
| Median household income | $65,932 | $75,059 | $80,734 |
| Homes lived in by their owners | 60% | 72% | 65% |
| Owner homes with a mortgage | 68% | 59% | 61% |
| Median monthly costs, owners with a mortgage | $1,485 | $1,533 | $1,963 |
| Those costs as a share of the owners' income | 19.9% | 18.7% | 21.0% |
| Median rent | $1,090 | $972 | $1,413 |
| Rent as a share of renters' income | 29.6% | 27.4% | 30.6% |
| Median year homes were built | 1961 | 1972 | 1980 |
| Vacant homes | 7.7% | 8.5% | 10.1% |
| Population | 212,421 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Des Moines
At this week's average 30-year rate of 7.11%, buying the median Des Moines home of $194,700 with 20% down costs about $1,421 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,745, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $60,900 for the 20%-down payment. That payment is 26% of the median Des Moines household income of $65,932; at that income and 20% down, the 28% guideline points to a home of about $211,000.
The median rent here is $1,090 a month, so owning the median home costs about $331 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $38,940 |
|---|---|
| Loan amount | $155,760 |
| Principal and interest | $1,048 |
| Property taxes (1.80% a year) | $292 |
| Homeowners insurance (our estimate, 0.5% a year) | $81 |
| PMI | $0 |
| Total per month | $1,421 |
Change the numbers in the calculator
| Down payment | $6,814 |
|---|---|
| Loan amount | $191,174 |
| Principal and interest | $1,286 |
| Property taxes (1.80% a year) | $292 |
| Homeowners insurance (our estimate, 0.5% a year) | $81 |
| FHA mortgage insurance | $86 |
| Total per month | $1,745 |
Change the numbers in the calculator
Questions about home buying in Des Moines
What is the median home value in Des Moines?
About $194,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Des Moines?
Homeowners pay a median $3,496 a year, which is about 1.80% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Des Moines?
For the median home with 20% down at 7.11%, the payment is about $1,421 a month. Keeping that under 28% of gross income takes about $60,900 a year.
More about Des Moines
- Mortgage Refinance in Des Moines
- Debt Relief in Des Moines
- Home Equity Loans in Des Moines
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data