Des Moines, IA mortgage & affordability calculator
The typical home in Des Moines, IA is worth about $260,000.
With 20% down that's a loan near $208,000 — the calculator
is pre-filled with that figure. Des Moines' insurance-industry cluster gives it incomes above the Iowa average, while home prices remain well below the national median. Property taxes are set largely at the county and school-district level and run above the national average.
$1,350.47 / month
Total interest
$278,165
Total paid
$486,165
Payoff
30.0 years
How much you need to earn
Des Moines, IA's median household income is about
$72,000 a year. Under standard 28/36
lending rules that supports a home price around
$236,312 with 20% down —
below the $260,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.
Typical asking rent in Des Moines, IA is about $1,250 a month, so owning the median home costs roughly
$584 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Des Moines, IA?
On the metro's roughly $260,000 typical home with 20% down, the loan is about $208,000. Principal and interest run near $1,350 a month at today's rate, and Des Moines, IA's property tax plus insurance add about $483, for a full payment near $1,834.
Can I afford a home in Des Moines, IA on the median income?
The median household income is about $72,000 a year. Under standard 28/36 lending rules that supports a home price around $236,312 with 20% down — below the $260,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Des Moines, IA?
Typical asking rent is about $1,250 a month. The full owner payment on a median home is near $1,834, so owning costs roughly $584 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Des Moines, IA?
The effective property tax rate in the core county is about 1.50% of market value — roughly $3,900 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Des Moines, IA rising or falling?
Home values are up about 4% over the past year. Des Moines' insurance-industry cluster gives it incomes above the Iowa average, while home prices remain well below the national median. Property taxes are set largely at the county and school-district level and run above the national average.