Des Moines’ housing landscape is undergoing significant changes, influenced by market trends, new developments, and efforts to enhance affordability.
Current Market Trends
As of early 2026, the Des Moines housing market exhibits a mix of stability and gradual shifts. The median home price stands at approximately $210,703, reflecting a modest 0.6% increase over the past year. Homes typically go pending in around 26 days, indicating steady demand. However, affordability remains a concern, with mortgage rates projected to average around 6.3% this year, higher than the exceptionally low rates seen during the pandemic.
New Developments
Several new housing projects are contributing to the city’s growth. For instance, Forge65 in Pleasant Hill introduced 162 units, including apartments and townhomes, addressing the demand for diverse rental options. Additionally, the Rowat Lofts in the Market District added 162 units, blending modern design with the area’s industrial heritage.
Affordability Initiatives
To tackle the shortage of affordable housing, the Polk County Housing Trust Fund identified approximately 740 underused properties, such as church parking lots and vacant office parks, that could be converted into affordable housing. This initiative aims to provide housing for individuals earning at or below 80% of the area median income.
Similarly, Oakridge Neighborhood is planning a $15 million-plus development named Cynergy, focusing on larger affordable units to meet the needs of working families.
Conclusion
Des Moines’ housing market is characterized by steady growth and proactive efforts to enhance affordability. Staying informed about these developments is crucial for residents and potential homebuyers navigating the evolving landscape.