Total monthly cost of ownership
Cost to Own a Home in Des Moines, Iowa
A $184,000 home here costs
$1,662per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $946. The real number is $716 higher every month — 76% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Des Moines against Polk County and Iowa
| Measure | Des Moines | Polk County |
|---|---|---|
| Median home value | $183,700 | $248,400 |
| Median property tax | $3,445 | $4,364 |
| Effective tax rate | 1.875% | 1.757% |
| Median gross rent | $1,054 | $1,113 |
| Population | 212,464 | 497,441 |
Des Moines extends across 2 counties. Figures here use Polk County, where most of its housing sits.
The weather behind that power bill
Des Moines sits in Polk County, which averages a high of 85.7°F in its hottest month and a low of 11.7°F in its coldest, with 37.05" of precipitation a year and 40% of it in a single three-month stretch. That climate drives 958 cooling and 6,547 heating degree days, which is what sets the $127 electricity line above.
See the full climate breakdown for Polk County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Polk County
Common questions
How much does it cost to own a home in Des Moines?
A $184,000 home in Des Moines, Iowa costs approximately $1,662 per month with 20% down at 6.66%. That is $946 principal and interest, $288 property tax, $80 homeowners insurance, $195 utilities and $153 set aside for maintenance.
What is the property tax rate in Des Moines?
Des Moines has an effective property tax rate of 1.875%, based on a median home value of $183,700 and median real estate taxes of $3,445. That is higher than the Polk County average of 1.757%.
What is the average home price in Des Moines?
The median owner-occupied home value in Des Moines, Iowa is $183,700, against $248,400 across Polk County.
Is it cheaper to rent or buy in Des Moines?
Median gross rent in Des Moines is $1,054 a month, against $1,662 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Des Moines — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Iowa.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.