What $400,000 Buys You in Des Moines Today (And What It Bought 5 Years Ago)
If you’ve been following real estate headlines over the past few years, you’ve probably heard that home prices have climbed across the country. But what does that actually look like in a real, local market like Des Moines?
One of the most common questions buyers ask is: “Are homes really that much more expensive than they used to be?”
The short answer is yes — but the longer answer is much more interesting.
To give some perspective, let’s look at what a $400,000 budget might have bought in the Des Moines metro five years ago compared to what buyers can expect today.
What $400,000 Looked Like in the Des Moines Housing Market Around 2019–2020
Five years ago, a $400,000 home in the Des Moines area often meant a large, newer home in a desirable suburb with plenty of space.
Typical features you might have seen included:
• 2,500–3,200 square feet
• 4–5 bedrooms
• Finished basement
• Three-car garage
• New construction or nearly new
• Homes located in growing suburbs like Waukee, Ankeny, or West Des Moines
Buyers at that price point often had multiple move-in-ready options in some of the most sought-after neighborhoods in the Des Moines metro.
It was also common to see larger lots and more upgrades included in the base price, especially in new construction developments.
What $400,000 Looks Like in the Des Moines Real Estate Market in 2026
Fast forward to today, and a $400,000 budget still stretches relatively far compared to many other parts of the country — but the expectations have shifted slightly.
Buyers searching for homes around $400,000 in the Des Moines market today will often find properties with:
• 1,900–2,600 square feet
• 3–4 bedrooms
• Updated finishes but sometimes fewer upgrades
• Slightly smaller lots in newer developments
• A mix of resale homes and newer construction
Many homes in this price range are still beautiful, modern homes, but buyers may need to prioritize what matters most — whether that’s location, size, or specific features.
The encouraging news is that the Des Moines real estate market remains one of the most affordable metro markets in the Midwest, offering strong long-term value for homeowners.
Why Home Prices Have Changed
Several factors have contributed to rising home prices across the Des Moines metro over the past five years.
Population Growth
Des Moines continues to attract people relocating from other states thanks to its strong job market, reasonable cost of living, and high quality of life. Communities like Waukee, Grimes, Ankeny, and Norwalk continue to see steady growth. More people moving into the area naturally increases demand for homes.
Construction Costs
New construction has become significantly more expensive due to higher material costs, labor shortages, and supply chain disruptions over the past several years. As a result, new homes entering the market today often start at higher price points.
Housing Inventory
Like many cities across the country, Des Moines experienced several years of limited housing inventory, which increased competition among buyers and pushed prices upward. While inventory has improved recently, the effects of those tight supply years still influence pricing in today’s market.
The Good News: Des Moines Still Offers Exceptional Value
Despite rising prices, the Des Moines housing market still offers something many major cities can’t — space, stability, and affordability.
Compared with larger metro areas across the country, buyers here can still find spacious homes, family-friendly neighborhoods, strong schools, and newer homes at attainable price points.
For many people relocating from larger cities, Des Moines real estate continues to represent incredible value.
What This Means for Buyers This Spring
Spring is traditionally one of the busiest times for buying and selling homes in Des Moines. More listings tend to hit the market, which gives buyers more options to explore.
The key for buyers isn’t trying to perfectly time the market. Instead, it’s about understanding what monthly payments look like, choosing the right neighborhood, and finding a home that fits long-term goals.
Every buyer’s situation is different, and understanding your budget early can make the process much smoother.
A Simple Way to Start
If you’re curious about what home prices might look like for your monthly budget, a good first step is estimating your potential payment.
You can explore different price points, down payments, and loan terms using the mortgage payment calculator on this website. It’s a helpful way to see how different scenarios could affect your monthly payment before you begin your home search.
And if you ever want to talk through the Des Moines market, local neighborhoods, or what buying or selling might look like this year, feel free to reach out. Even a short conversation can help bring clarity to what the next step might be.
