The typical owner-occupied home in Des Moines is worth about $152,500, 39% below the New Mexico median of $248,100 and 54% below the national median of $332,700. Owners pay a median $510 a year in property taxes, about 0.33% of their home's value, lower than the New Mexico rate of 0.70%. The median household earns $63,864 a year, so the median home costs 2.4 times the median income (3.9 times for New Mexico). 71% of occupied homes here are lived in by their owners, and 0% of those owners still have a mortgage.
Des Moines at a glance
| Des Moines | New Mexico | U.S. | |
|---|---|---|---|
| Median home value | $152,500 | $248,100 | $332,700 |
| Median property tax paid per year | $510 | $1,731 | $3,119 |
| Property tax as a share of value | 0.33% | 0.70% | 0.94% |
| Median household income | $63,864 | $64,059 | $80,734 |
| Homes lived in by their owners | 71% | 70% | 65% |
| Owner homes with a mortgage | 0% | 52% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,564 | $1,963 |
| Median rent | – | $1,067 | $1,413 |
| Median year homes were built | 1956 | 1985 | 1980 |
| Vacant homes | 27.5% | 12.5% | 10.1% |
| Population | 174 | 2,120,246 | 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 $152,500 with 20% down costs about $926 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,180, 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 $39,693 for the 20%-down payment. That payment is 17% of the median Des Moines household income of $63,864; at that income and 20% down, the 28% guideline points to a home of about $245,000.
| Down payment | $30,500 |
|---|---|
| Loan amount | $122,000 |
| Principal and interest | $821 |
| Property taxes (0.33% a year) | $42 |
| Homeowners insurance (our estimate, 0.5% a year) | $64 |
| PMI | $0 |
| Total per month | $926 |
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| Down payment | $5,338 |
|---|---|
| Loan amount | $149,738 |
| Principal and interest | $1,007 |
| Property taxes (0.33% a year) | $42 |
| Homeowners insurance (our estimate, 0.5% a year) | $64 |
| FHA mortgage insurance | $67 |
| Total per month | $1,180 |
Change the numbers in the calculator
Questions about home buying in Des Moines
What is the median home value in Des Moines?
About $152,500 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 $510 a year, which is about 0.33% 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 $926 a month. Keeping that under 28% of gross income takes about $39,693 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