Des Moines Iowa Residential Rent and Rental Statistics
The median monthly gross residential rent in Des Moines, IA (the Des Moines-West Des Moines metro area) was $873 in 2017 according to the Census ACS survey.1 Average gross rent in Des Moines was $900 in 2017. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2018 Des Moines median and average rent data will be released in September of 2019.
Data is also available below for Des Moines rental vacancy rates, Des Moines rent as a percent of median income and the fraction of renters in Des Moines.
Real Gross Rent in Des Moines Iowa (2017 dollars)2
| 2017 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,012 | +1.61% | +5.86% |
| Iowa Median Gross Rent | $760 | +0.93% | +4.40% |
| Des Moines, IA Median Gross Rent | $873 | +1.04% | +4.43% |
Des Moines, IA Real Gross Rent Trends
At $873, real median gross rent in Des Moines was at its highest level in 2017 since the series began in 2005. Average gross rent for Des Moines peaked in real terms in 2016 at $908 and is now $8 (0.88%) lower.
Real Gross Rent in Des Moines: Des Moines IA Median, Des Moines IA Average, Iowa Median, US Median
Real Gross Rent History for Des Moines
| Date | US Median |
Iowa Median |
Des Moines, IA Median |
Des Moines, IA Average |
|---|---|---|---|---|
| 2017 | $1,012 | $760 | $873 | $900 |
| 2016 | $996 | $753 | $864 | $908 |
| 2015 | $987 | $739 | $849 | $895 |
| 2014 | $956 | $728 | $836 | $859 |
| 2013 | $924 | $693 | $812 | $856 |
| 2012 | $912 | $682 | $799 | $809 |
| 2011 | $912 | $674 | $784 | $802 |
| 2010 | $927 | $682 | $778 | $803 |
| 2009 | $931 | $675 | $780 | $794 |
| 2008 | $947 | $697 | $799 | $806 |
| 2007 | $899 | $646 | $759 | $765 |
| 2006 | $909 | $695 | $809 | $816 |
Des Moines Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2017 the rental vacancy rate for Des Moines Iowa was 6.83% according to Census ACS data.
Rental Vacancy Rate in Des Moines Iowa
| 2017 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 6.18% | +0.29% | -0.14% |
| Iowa | 7.31% | +1.07% | +1.84% |
| Des Moines, IA | 6.83% | +1.63% | +2.49% |
Trends in Des Moines, IA Rental Vacancy Rate
The rental vacancy rate in Des Moines peaked in 2007 at 9.43%. Since then it has fallen by 2.60% to 6.83%. Data records for this series originated in 2005. From a 2012 post peak low of 3.29%, the rental vacancy rate has increased by 3.54%.
Rental Vacancy Rate: Des Moines IA, Iowa, US
Historical Rental Vacancy Rate data for Des Moines
| Date | US | Iowa | Des Moines, IA |
|---|---|---|---|
| 2017 | 6.18% | 7.31% | 6.83% |
| 2016 | 5.89% | 6.24% | 5.20% |
| 2015 | 5.85% | 6.41% | 6.08% |
| 2014 | 6.32% | 5.47% | 4.34% |
| 2013 | 6.49% | 6.03% | 3.74% |
| 2012 | 6.77% | 6.77% | 3.29% |
| 2011 | 7.40% | 6.64% | 6.46% |
| 2010 | 8.17% | 6.38% | 5.52% |
| 2009 | 8.43% | 5.97% | 5.65% |
| 2008 | 7.86% | 6.80% | 5.84% |
| 2007 | 7.87% | 7.54% | 9.43% |
| 2006 | 7.70% | 6.28% | 3.65% |
Rent as a Fraction of Income
Using median household income data for Des Moines, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Des Moines, median monthly gross rent as a fraction of median household income was 15.26% in 2017 according to the ACS.
Des Moines Iowa Median Annual Rent as a Fraction of Median Household Income
| 2017 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.13% | -0.30% | -0.76% |
| Iowa | 15.57% | -0.24% | -0.31% |
| Des Moines, IA | 15.26% | -0.28% | -0.42% |
Trends in Des Moines, IA Rent as a Fraction of Income
The fraction of median Des Moines household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 15.96%. Since then it has fallen by 0.70% to 15.26%.
Fraction of Income towards Rent: Des Moines IA, Iowa, US
Historical Data for Annual Rent as a Fraction of Income in Des Moines Iowa
| Date | US | Iowa | Des Moines, IA |
|---|---|---|---|
| 2017 | 20.13% | 15.57% | 15.26% |
| 2016 | 20.43% | 15.81% | 15.54% |
| 2015 | 20.63% | 15.74% | 15.96% |
| 2014 | 20.89% | 15.88% | 15.68% |
| 2013 | 20.78% | 15.60% | 15.59% |
| 2012 | 20.65% | 15.57% | 15.70% |
| 2011 | 20.70% | 15.61% | 15.42% |
| 2010 | 20.50% | 15.74% | 15.76% |
| 2009 | 20.12% | 15.26% | 14.97% |
| 2008 | 19.00% | 14.87% | 14.44% |
| 2007 | 18.66% | 14.39% | 14.31% |
| 2006 | 18.90% | 15.75% | 15.26% |
Renter Fraction in Des Moines Iowa
You can calculate the renter fraction in Des Moines in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Des Moines as a fraction of total Des Moines households. In 2017 29.42% of households were renters according to Census ACS data.
Des Moines Fraction of Renters by Household Units
| 2017 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 36.13% | -0.75% | -0.77% |
| Iowa | 28.40% | -0.97% | -0.73% |
| Des Moines, IA | 29.42% | -1.17% | -2.22% |
Trends in the Des Moines, IA Renter Fraction
The Des Moines household renter fraction peaked in in 2014 at 31.64% and is now 2.22% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Des Moines IA, Iowa, US
History of Des Moines Renter Fraction
| Date | US | Iowa | Des Moines, IA |
|---|---|---|---|
| 2017 | 36.13% | 28.40% | 29.42% |
| 2016 | 36.88% | 29.37% | 30.59% |
| 2015 | 36.97% | 29.33% | 31.63% |
| 2014 | 36.90% | 29.13% | 31.64% |
| 2013 | 36.50% | 29.19% | 30.92% |
| 2012 | 36.09% | 28.07% | 29.02% |
| 2011 | 35.42% | 27.65% | 28.62% |
| 2010 | 34.65% | 27.64% | 27.84% |
| 2009 | 34.13% | 27.92% | 29.47% |
| 2008 | 33.36% | 27.11% | 27.27% |
| 2007 | 32.80% | 26.31% | 26.03% |
| 2006 | 32.73% | 26.70% | 26.38% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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