True Cost of Renting in Des Moines
Des Moines is quietly one of the best mid-sized cities in America for renters. The insurance and financial services industry (Principal Financial, Meredith, Nationwide, EMC Insurance) provides high-wage employment; MidAmerican Energy rates are among the lowest in the Midwest; and the East Village has genuine urban character that rivals neighborhoods in much larger metros — all at prices that make the Midwest's value proposition concrete.
Neighborhoods & Average Rents
East Village
- Studio:
- $850/mo
- 1 Bed:
- $1,100/mo
- 2 Bed:
- $1,500/mo
Des Moines' hippest neighborhood adjacent to the Iowa State Capitol; boutique restaurants, coffee shops, and locally-owned retail. MidAmerican Energy electric (among the lowest rates in the Midwest). DART bus access. New construction apartments alongside renovated historic buildings.
Downtown / Court Avenue
- Studio:
- $900/mo
- 1 Bed:
- $1,150/mo
- 2 Bed:
- $1,600/mo
Financial district with growing residential population; Principal Financial HQ and major insurance employers walkable. Wells Fargo Arena and Iowa Events Center nearby. Building parking $50–75/mo. DART bus hub. Strong for financial services professionals.
Beaverdale
- 1 Bed:
- $950/mo
- 2 Bed:
- $1,350/mo
Established residential neighborhood northwest of Downtown; walkable commercial district on Beaver Avenue with bakeries and independent restaurants. Strong community identity. Some of Des Moines' best-maintained older apartment buildings. Car needed for most errands.
West Des Moines / Waukee
- 1 Bed:
- $1,100/mo
- 2 Bed:
- $1,600/mo
Suburban growth corridor; Jordan Creek Town Center and major corporate campuses (Hy-Vee HQ, Nationwide Insurance regional). Iowa's fastest-growing suburban corridor. New luxury apartment complexes with resort amenities. Car-dependent.
Utility Providers
- Electric
- MidAmerican Energy
- Water
- Des Moines Water Works
- Internet
- Mediacom, Metronet, CenturyLink/Quantum Fiber
Commute & Transportation
Des Moines is at the intersection of I-80 (east-west US main street) and I-35 (north-south to Kansas City and Minneapolis). Des Moines International Airport (DSM) is 5 miles southwest. DART (Des Moines Area Regional Transit) provides bus service but frequency is limited outside peak hours. The city is fundamentally car-dependent. I-235 is the urban highway through Downtown. Major employers: Principal Financial Group (HQ, 6,000+), Meredith Corp (acquired by Dotdash), EMC Insurance (HQ), Iowa state government (4,000+), UnityPoint Health-Iowa Methodist, and Hy-Vee (grocery HQ in West Des Moines).
Rental Market Overview
Des Moines is the rare city where a knowledge-economy salary goes dramatically further. MidAmerican Energy (owned by Berkshire Hathaway Energy) has among the lowest electric rates in the Midwest ($0.09–0.11/kWh) due to significant wind energy investment. That means a 1BR electric bill of $60–80/month versus $120–150 in comparable Midwest cities. The insurance corridor provides stable, high-wage employment. Iowa has no state income tax on Social Security and low overall rates. A 1BR in East Village at $1,100 with Principal Financial Group 8 blocks away is a genuine quality-of-life upgrade for finance professionals priced out of Chicago or New York.
Data last updated: 2026-04
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