Des Moines, WA—98198
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Des Moines, WA
As of Oct '25, the median home price in Des Moines, WA is $579,000, with a year-over-year change of -1.0%. This indicates that home prices in Des Moines, WA are decreasing. According to Zillow, the 1-year price projection is -0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $579,000 | -1.0% |
| Single Family | $609,000 | -1.3% |
| Condos | $346,000 | -5.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $274,000 | -6.5% |
2 Bed | $415,000 | -3.5% |
3 Bed | $569,000 | -1.6% |
4 Bed | $679,000 | -1.3% |
| 5 Bed | $764,000 | -0.8% |
% of Housing Stock
Rental Trends — Des Moines, WA
As of July '25, Rentcast reports the average rent in Des Moines, WA is $2,250, with a year-over-year rent change of -8.2%. Per bedroom, the median rent as of July '25 in Des Moines, WA is studios: $1,390, 1-bedrooms: $1,560, 2-bedrooms: $2,120, 3-bedrooms: $2,980, 4-bedrooms: $4,280. The most common rental property sizes in Des Moines, WA are 2-bedroom and 1-bedroom, accounting for 54.0% and 20.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $2,250 |
| Studio Rent | $1,330 | $1,390 |
| 1 Bed Rent | $1,600 | $1,560 |
| 2 Bed Rent | $1,950 | $2,120 |
| 3 Bed Rent | $2,900 | $2,980 |
| 4 Bed Rent | $4,250 | $4,280 |
% of Rental Stock
Property Listings — Des Moines, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Des Moines, WA is 44. This is a increase of 5.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $600,000 | -6.0% |
Listing Count | 107 | -20.0% |
| Listings as % of Homes | 0.3% | -20.0% |
Days on Market | 44 | 5.0% |
Demographics — Des Moines, WA
As of the latest ACS Survey released in 2023, Des Moines, WA has a population of 39,800, which has increased by 4.5% over the past 5 years. Des Moines, WA is a moderately popular place for families, as children make up 22.8% of the population. The area has a moderately educated workforce, with 31.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 39,800 | 4.5% |
% Under 18 | 22.8% | 5.6% |
% Seniors | 14.5% | -5.8% |
% WFH | 13.0% | 170.8% |
% w/ College Degree | 31.5% | 27.5% |
As of the latest ACS Survey released in 2023, Des Moines, WA is a predominantly white area, with 41.5% of the population identifying as white. The white population has shrunk by 10.4% in the last 5 years. The second most common race or ethnicity in Des Moines, WA is hispanic, making up 23.8% of the population. Foreign-born residents account for 29.3% of the population in Des Moines, WA, and this percentage has increased by 20.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 41.5% | -10.4% |
% Black | 12.7% | 25.7% |
% Hispanic | 23.8% | 16.7% |
% Asian | 12.7% | -1.6% |
% Foreign Born | 29.3% | 20.6% |
Mortgage and Risk — Des Moines, WA
According to HUD data as of 2023, there were 555 mortgage originations in Des Moines, WA, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 51.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Des Moines, WA. Investor activity is low, as 3.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 555 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Des Moines, WA
As of 2024, the percent of homes in Des Moines, WA under the Section 8 program is 7.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Des Moines, WA, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 460 |
Total Units Section 8 | 460 |
% Rentals under Section 8 | 7.3% |
% Occupied Section 8 | 100.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $450 | $1,600 | $2,050 |
| 2 Bedroom | $440 | $1,950 | $2,390 |
| 3 Bedroom | $260 | $2,900 | $3,160 |
| 4 Bedroom | -$570 | $4,250 | $3,680 |
Affordability — Des Moines, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.6 |
| Median Home Price | $579,000 |
| Median Household Income | $83,900 |