Rent vs Buy in Des Moines, IA
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Buying looks favorable in Des Moines, IA
Price-to-rent ratio is 14.6 (under 15 favors buying, over 21 favors renting). Renting costs $1,216/mo; owning runs about $1,586/mo — $370/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 6.95% rate) | $1,125 |
| Property tax | $195 |
| Home insurance | $89 |
| Maintenance | $177 |
| Total to own | $1,586 |
| Average 2BR rent | $1,216 |
Based on a median home value of $212,479 with a $42,496 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.