Des Moines’ housing market is experiencing notable shifts, presenting both challenges and opportunities for residents and investors alike.
Current Market Trends
As of June 2026, the average home value in Des Moines stands at $213,036, marking a modest 0.1% increase over the past year. Homes are typically going pending in about 15 days, indicating a relatively brisk market. The median sale price is $211,000, with a median list price of $226,300. Notably, 20.2% of sales have closed above the list price, while 55.9% have been below, reflecting a balanced negotiation landscape.
Rental Market Insights
The rental sector remains competitive, with the average rent at $1,121 per month. This figure is significantly below the national average of $1,965, underscoring Des Moines’ affordability. However, the year-over-year rent increase of 2.7% suggests a tightening market, potentially impacting renters seeking budget-friendly options.
New Developments and Community Initiatives
Several projects are underway to address housing needs and revitalize neighborhoods:
Cynergy Project by Oakridge Neighborhood
Oakridge Neighborhood is spearheading the Cynergy project, a $15 million-plus development aimed at providing larger affordable housing units in downtown Des Moines. The mixed-use building will feature commercial space on the ground floor with residential units above, catering to working families facing high rent burdens.
Historic Building Redevelopment in Columbus Park
Two of Des Moines’ oldest commercial buildings, located at 2024 and 2026 Southeast Sixth Street, are slated for redevelopment. Plans include transforming these long-vacant structures into housing and storefronts, potentially including restaurant space, thereby preserving the area’s historical character while meeting modern housing demands.
Middlebrook Agrihood in Cumming
Just south of Des Moines, the Middlebrook development in Cumming is rapidly expanding. This 800-acre “agrihood” is designed to emulate walkable small towns, incorporating a town center, diverse housing options, local amenities, farms, and community gardens. Housing options range from apartments to single-family homes priced between $320,000 and $1 million.
Senior Housing Development in South Des Moines
Nelson Construction has proposed a multiphase senior housing development on a 12.4-acre site in south Des Moines. The first phase includes a five-story, 110-unit senior apartment building targeting residents aged 55 and older. This project aims to transform long-vacant industrial land into valuable residential space.
Beaverdale Mixed-Use Development
A new mixed-use development is proposed for the former GreenState Credit Union site at 2805 Beaver Ave. in Beaverdale. Plans include ground-floor commercial space with upper-level condominiums, offering downsizing options for longtime residents and attracting new businesses to the neighborhood.
These developments reflect a concerted effort to address housing shortages, preserve historical sites, and create vibrant communities within and around Des Moines.