Mortgage Calculator & Closing Costs: Des Moines, IA
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Des Moines, Iowa.
Median Home Price
$225K
Population
214K
Avg Monthly Rent
$1,120
Property Tax Rate
1.52% *
* Property tax shown is the Iowa state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Des Moines.
Des Moines vs Iowa Median
The median home price in Des Moines is $225,000, which is 7% above the Iowa state median of $210,000.
Mortgage Calculator — Des Moines, IA
Pre-filled with Des Moines median home price and Iowa tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $225K home using Iowa's 1.52% tax rate and $1,800/yr insurance.
5% Down
$1,911/mo
Down: $11,250
Loan: $214K
P&I: $1,351
Tax: $285
Insurance: $150
PMI: $125
10% Down
$1,833/mo
Down: $22,500
Loan: $203K
P&I: $1,280
Tax: $285
Insurance: $150
PMI: $118
20% Down (No PMI)
$1,573/mo
Down: $45,000
Loan: $180K
P&I: $1,138
Tax: $285
Insurance: $150
Income needed (28% rule): $67K/year with 20% down, $79K/year with 10% down.
Rent vs Buy in Des Moines
Rent
$1,120/mo
vs
Buy (10% down)
$1,833/mo
Price-to-rent ratio: 16.7 — A ratio between 15-20 means the rent vs buy decision in Des Moines depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Des Moines is $225,000, 7% above the Iowa state median of $210,000. With a population of 214,133, Des Moines is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in Iowa average 1.52% annually. This higher-than-average tax rate means a $225,000 home in Des Moines would carry roughly $285/month in property taxes alone — plan accordingly. Homeowners insurance in Iowa runs approximately $1,800 per year. This is within the normal range nationally.
Average rent in Des Moines is $1,120/month. The price-to-rent ratio in Des Moines is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Des Moines offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Iowa's IFA FirstHome program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Des Moines.