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Are Rents Going Up in Des Moines?

Here’s what you need to know about rent prices in Des Moines.

If you’re a homeowner, the last two years have been fantastic. Homes have appreciated like crazy all across the country, so you probably have plenty of equity. However, the situation isn’t so rosy for tenants. 

As housing values increase, rents do too. Inflation is also high right now, so many landlords will increase rents to offset the rising costs of goods. On top of that, many buyers have been priced out of the market due to rising interest rates. This means that more people will need to rent in our area. 

So how much will rental prices increase? At the end of the day, rents are a result of supply and demand. Our metro area is growing, and new construction rentals are mostly marketed to higher income brackets. I expect rents to increase anywhere from 7% to 9% as a result. 

If you have questions about today’s topic or anything else related to real estate, please call or email me. I am always willing to help!

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