Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | West Des Moines | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $251,961 | $143,535 | $242,182 |
| Price Trend (Annual %) | 13.7% | 7.5% | 8.2% |
| Median Gross Rent | $1,194 | $948 | $1,342 |
| Rent Trend (Annual %) | 3.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in West Des Moines is about 76% higher than in Iowa. Rent is about 26% higher than the Iowa average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in West Des Moines, up about 13.7% and 3.6% a year respectively. Home prices are changing faster.
Median rent in West Des Moines rose about 33.8% between 2015 and 2023, from $892 to $1,194. Over the same span, rent in Iowa rose about 36.3%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in West Des Moines.
Buying the median-priced home in West Des Moines costs roughly 17.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in West Des Moines. The price-to-rent ratio in Iowa is about 12.6.
| Metric | West Des Moines | Iowa Avg | US Average |
|---|---|---|---|
| Median Home Price | $251,961 | $143,535 | $242,182 |
| Median Household Income | $86,555 | $73,286 | $78,145 |
| Price-to-Income Ratio | 2.9 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in West Des Moines rose about 133.5%, while median household income rose about 33.4% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | West Des Moines | Iowa Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.4% | 65.3% | 58.2% |
| Rental Rate | 40.2% | 26.0% | 31.3% |
| Vacancy Rate | 5.3% | 8.6% | 10.6% |
| Median Tenure (years) | 11.0 | 15.0 | 15.0 |
| Median Year Moved In | 2015 | 2011 | 2011 |
West Des Moines has a homeownership rate of 54.4%, lower than the Iowa average of 65.3%. Its housing vacancy rate is 5.3%, compared with 8.6% in Iowa.
Housing Stock
| Metric | West Des Moines | Iowa Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.19 people | 2.37 people | 2.54 people |
| Median Structure Built Year | 1991 | 1970 | 1978 |
| Median Number of Rooms | 5.2 | 5.9 | 5.5 |
The typical housing unit in West Des Moines was built around 1991. On average, 2.2 people live in a home with about 5.2 rooms, staying for about 11.0 years on average.
Frequently Asked Questions
Common questions about the housing market in West Des Moines, Iowa.
What is the median home price in West Des Moines, Iowa?
The median home price in West Des Moines, Iowa is $251,961, higher than the Iowa average of $143,535.
What is the average home price in West Des Moines, Iowa?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in West Des Moines, Iowa?
The median gross rent in West Des Moines, Iowa is $1,194 per month, higher than the Iowa average of $948.
What was the median gross rent in West Des Moines in 2020?
In 2020, the median gross rent in West Des Moines, Iowa was $1,062 per month.
What is the price-to-rent ratio in West Des Moines, Iowa?
The price-to-rent ratio in West Des Moines, Iowa is about 17.6, meaning it would take roughly 17.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in West Des Moines.
Are home prices or rent rising faster in West Des Moines, Iowa?
Both home prices and rent are rising in West Des Moines, up about 13.7% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in West Des Moines, Iowa?
54.4% of households in West Des Moines, Iowa own their home, lower than the Iowa average of 65.3%.
What is the vacancy rate in West Des Moines, Iowa?
The housing vacancy rate in West Des Moines, Iowa is 5.3%, lower than the Iowa average of 8.6%.