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Apartments for Rent in Des Moines, IA under $700 – 45 Rentals available


Des Moines’s average rent reached $915 in March

Des Moines’s average rent reached $915 in March, after a 1.1% increase since last year. One of Iowa’s largest job hubs, with a 38% renter share, Des Moines is a desirable place to live and work in, with apartment prices well below the national average of $1,407. [View Full Report]

Des Moines City apartment rent report

Des Moines’s average rent was $915 in March

Des Moines’s average rent reached $915 in March, after a 1.1% increase since last year. One of Iowa’s largest job hubs, with a 38% renter share, Des Moines is a desirable place to live and work in, with apartment prices well below the national average of $1,407.

The average rent for an apartment in Des Moines rose faster than in other surrounding areas, such as West Des Moines ($1,006) where prices went up by 0.4%. At the other end of the spectrum, Ankeny apartment prices decreased by 1.7%, reaching $1,077.

Des Moines apartment rent report

What it costs to rent in the Des Moines metro area

Despite a 3.8% increase, Urbandale rentals are the most budget-friendly option in the Des Moines area, with an average price of $879. At $995 a month, following a 4% increase, renting in Altoona is the third best option after Des Moines, which comes in second. In Johnston, apartments go for $1,168 after a 3.3% yearly increase, beeing the priciest city in Des Moines area.

Des Moines apartment rents in popular ZIP codes for renters

Among Des Moines's most popular renter ZIP codes, 50315 has a $776 average rent, below the city average ($915). At the same time, rentals in ZIP 50310 go for $790, while prices in ZIP 50320 circle around $727. Apartment rents in ZIP 50321 clock in at around $842, lower than the Des Moines average, while rates in ZIP 50312 average at $862.

Check out how average rents evolved across the Des Moines area

Des Moines apartment rent report

Methodology

RENTCafe.com is a nationwide apartment search website that enables renters to easily find apartments and houses for rent throughout the United States. 

The data on average rents included in our reports comes directly from competitively-rented (market-rate) large-scale multifamily properties (50+ units in size), via telephone survey. The data is compiled and reported by our sister company Yardi Matrix, a business development and asset management tool for brokers, sponsors, banks and equity sources underwriting investments in the multifamily, office, industrial and self-storage sectors. Fully-affordable properties are not included in the survey and are not reported in rental rate averages. Local rent reports include only cities with a statistically-relevant stock of large-scale multifamily properties of 50+ units.

Des Moines, IA Demographics

  • Total Population215,636
  • Female 106,316
    Male 109,320
  • Median Age34.2

Average Rent in Des Moines, IA

  • Des Moines, IA Average Rental Price, February 2021 $914 /mo

    Des Moines, IA Apartment Rent Ranges

    • < $5001%
    • $501-$70020%
    • $701-$1,00052%
    • $1,001-$1,50020%
    • $1,501-$2,0005%
    • > $2,0001%

    Des Moines, IA Rent Trends

    Average Rent Nov / 2017 Mar / 2018 Jul / 2018 Nov / 2018 Mar / 2019 Jul / 2019 Nov / 2019 Mar / 2020 Jul / 2020 Nov / 2020 Feb / 2021
    Des Moines, IA $886 $887 $892 $895 $897 $901 $894 $905 $902 $920 $914
    National $1,317 $1,348 $1,357 $1,361 $1,393 $1,400 $1,401 $1,391 $1,393 $1,399
    /

    Des Moines, IA Households

    • Total Number of Households85,833
    • Family 48,393
      Non-family 37,440
    • Children 26,235
      No Children 59,598
    • Average People Per Household2.45
    • Median Household Income$53,525
    • Median Housing Costs Per Month$942

    Des Moines, IA Education Statistics

    • No High School6%
    • Some High School37%
    • Some College25%
    • Associate Degree8%
    • Bachelor Degree17%
    • Graduate Degree7%

    Apartments in Des Moines, IA under $700

    Balancing snug and cheap is no joke when it comes to renting a place to live. “Are there any apartments near me under $700?” is a great question to start from. Knowing your budget means you’re one step ahead and on the right track. We’ve taken care of the rest and found 45 apartments for rent in Des Moines, IA on which you’ll spend less than $700. A small, cheap rental means you’ll have to budget your living space as well. The great news is that keeping it simple pays off in more than one way. The cost of utilities is likely to run low, and you get the added benefit of not having to spend too much time cleaning up the whole place. Smaller apartments are more likely to be closer to the city center, so there are potential cuts to your transportation costs too. And here’s one more very special secret to add to your book-of-perks: you’re less likely to overshop when you know your space is limited.

    Rentals near you under $700

    Our goal is to help you find cheap apartments that live up to your dreams without crushing your budget. It may be a long shot to go looking for 3 bedroom apartments or even 2 bedroom for less than $700. The average rental size in Des Moines, IA is 788 Sq.Ft., but the $700 limit will probably narrow your search to places with a smaller square footage. Go through our listings and be on the look-out for a hassle-free studio or a 1 bedroom apartment. We trust you’ll turn it into a cozy home which is also budget-friendly to the core.

    Finding a home nearby is easier than you think. Check out our Apartments Near Me page and take your pick!