Quick facts: Des moines, IA

Quick Facts

96.6
Cost of Living
below US average
211,034
Population
38.39
Crime Rate per 1000
above US average
$62,378
Median Income
below US average
$213,000
Median House Price
above US average
$1308.57
Average Rent
below US average
14%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $62,378.

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Income Needed to Buy

βœ— Stretch
$67k/year
Based on $213,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $67k vs median $62,378
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Income Needed to Rent

βœ“ Affordable
$56k/year
Based on $1308.57/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($62,378) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Des moines, IA

Des Moines, the capital city of Iowa, is a vibrant hub known for its rich cultural scene and economic significance. Nestled in the central part of the state, it boasts a population of around 214,000 residents, making it the largest city in Iowa. Des Moines is recognized for its strong agricultural roots, yet it has evolved into a center for business, finance, and insurance. The city is home to several major companies and serves as a key player in the insurance industry, often referred to as the "Insurance Capital of the World." With a diverse economy, Des Moines also showcases sectors like healthcare, manufacturing, and technology. Culturally, Des Moines offers a variety of attractions, including the Des Moines Art Center, the Science Center of Iowa, and the Historic East Village. The city is known for its beautiful parks, a bustling downtown, and vibrant community events, such as the Iowa State Fair, which draws visitors from across the state and beyond. Overall, Des Moines is a blend of urban living, cultural richness, and Midwestern charm, making it a desirable place for families, professionals, and visitors alike.

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