Investment metrics, interactive calculators, and data-driven analysis for Des Moines rental properties.
Pre-filled with Des Moines medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Des Moines.
Des Moines, IA has a population of 214,133 and has been growing at 0.7% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $215,000 paired with median rents of $1,180/mo produces an estimated cap rate of 3.88%.
Property taxes at 1.52% are notably high and represent a significant drag on cash flow — model this expense carefully, as it can make or break a deal. The vacancy rate of 5.8% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 3.8x, homes cost about 3.8 times the local median income of $56,200. This relatively affordable ratio suggests a deep pool of renters who find buying out of reach, supporting rental demand. Home values have appreciated at roughly 2.7% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: At current median prices, Des Moines is challenging for pure cash flow investing. Consider BRRRR strategies with below-market purchases, or look at neighboring metros with stronger price-to-rent ratios.