The Des Moines housing market is experiencing notable shifts, with changes in home prices, rental rates, and new developments shaping the landscape.
Home Prices and Sales
As of April 2026, the median listing price for homes in Des Moines stands at $229,900, reflecting a 5.95% decrease from the previous year. The median sold price is $209,000, marking a 0.97% increase year-over-year. Homes are spending a median of 54 days on the market, indicating a slight slowdown in sales activity.
Rental Market
The rental market has seen a 4.35% increase in median rent, now at $1,200 per month. This rise suggests growing demand for rental properties, potentially due to affordability challenges in the home-buying sector.
New Developments
Several significant housing projects are underway to address the demand for affordable housing:
Cynergy Project
Oakridge Neighborhood is launching the Cynergy project, a $15 million-plus development aimed at providing larger affordable housing units for working families. The mixed-use building will feature commercial space on the ground floor and residential units above.
Southridge Flats
The proposed $62 million Southridge Flats development plans to construct a 160-unit complex on vacant land south of Southridge Mall. This initiative seeks to expand affordable housing options in the area.
Courthouse-Adjacent Project
A $76 million housing project is proposed adjacent to the Polk County Courthouse. The plan includes a six-story building with 280 apartments and ground-floor commercial space, aiming to enhance the housing availability in downtown Des Moines.
Market Outlook
Looking ahead, the Des Moines housing market is expected to shift toward more balanced conditions. Home prices are projected to rise modestly by 2-4%, with inventory levels forecasted to increase by 5-10%, providing buyers with more selection.
These developments and market trends indicate a dynamic period for Des Moines’ housing sector, with efforts underway to meet the evolving needs of residents.