Des Moines’ real estate market is experiencing a period of stability, with home values and rental rates showing modest changes. As of June 2026, the average home value stands at $213,036, reflecting a slight 0.1% increase over the past year. Homes are typically going pending in about 15 days, indicating steady demand. The median sale price is $211,000, with a median list price of $226,300. Approximately 20.2% of sales are closing above the list price, while 55.9% are below, suggesting a balanced market environment.
On the rental front, the average rent in Des Moines is $1,121 per month, marking a 2.7% year-over-year increase. This rate remains below the national average of $1,965, highlighting the city’s relative affordability. The rental market offers a moderate selection, with 385 active listings, providing options for prospective tenants.
Several developments are poised to impact the local housing landscape. In Urbandale, Buc-ee’s, a Texas-based travel center chain, plans to open its first Iowa location, bringing over $60 million in investment and creating more than 200 jobs. The project has received initial approval for a crucial land-use change and is awaiting further zoning and site plan approvals.
In downtown Des Moines, Oakridge Neighborhood is launching the Cynergy project, a $15 million-plus development aimed at addressing the shortage of larger affordable housing units. The mixed-use building will feature commercial space on the ground floor and residential units above, targeting working families facing high rent burdens.
Additionally, two historic buildings at 2024 and 2026 Southeast Sixth Street in the Columbus Park neighborhood are slated for redevelopment. Vacant for nearly three years due to fire damage, these structures may be transformed into housing and storefronts, preserving the area’s historical character.
In Cumming, the Middlebrook development is rapidly progressing. This 800-acre “agrihood” is designed to resemble walkable small towns and includes 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.
In south Des Moines, Nelson Construction has proposed a multiphase senior housing development on a 12.4-acre site near Southeast 14th Street. The first phase includes a five-story, 110-unit senior apartment building targeting residents aged 55 and older. The project aims to transform long-vacant industrial land into a vibrant residential community.
In Beaverdale, a new mixed-use development is proposed for the former GreenState Credit Union site at 2805 Beaver Ave. The plan includes ground-floor commercial space and upper-level condominiums, offering downsizing options for longtime residents and attracting new businesses to the neighborhood.
These developments reflect Des Moines’ dynamic real estate market, balancing growth with affordability and community needs. Prospective buyers, renters, and investors should stay informed about these trends to make well-informed decisions in this evolving landscape.