MARKET SNAPSHOT

Des Moines q1 2025

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AVERAGE RENT

$1,154 Q1 2025

OCCUPANCY RATE

93.1% Q1 2025

QUARTERLY NET ABSORPTION

281 Q1 2025

ANNUAL RENT CHANGE

1.3% Q1 2025

ANNUAL OCCUPANCY CHANGE

-130 BPS Q1 2025

QUARTERLY COMPLETIONS

423 Q1 2025

KEY TAKEAWAYS
Des Moines’ multifamily construction pipeline has declined significantly to just 1,600 units as of Q1 2025, reducing future supply pressures on occupancies.
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Annual rent growth moderated to 1.3% in early 2025. However, with new supply slowing and seasonal leasing activity ramping up, rent growth is projected to accelerate above 3.0% by years end.
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Rent growth has been strongest in Des Moines’ outlying suburban and rural areas, where larger, garden-style communities and growing populations continue to drive demand.
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MARKET OUTLOOK

The Des Moines multifamily market is poised for stabilization and renewed growth moving into the crucial spring and summer leasing seasons, driven by a rapidly contracting construction pipeline...

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Featured Des Moines Research Reports:

Alex Blagojevich

Alex Blagojevich

Executive Managing Director / Co-Founder

alex.blagojevich@mmgrea.com

Michael-Sullivan

Michael Sullivan

Executive Managing Director / Co-Founder

michael.sullivan@mmgrea.com

Josh Benard

Josh Benard

Senior Advisor

josh.benard@mmgrea.com

Shana Patrick Headshot

Shana Patrick

Managing Director

shana.patrick@mmgrea.com

To gain further insights into the Des Moines Market, contact our local team:

(800) 448-4MMG

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