Side-by-side comparison of Des Moines, IA and Ames, IA — cap rates, rent, prices, and investment metrics.
Cash flow: Des Moines has the edge with an estimated cap rate of 3.88% compared to Ames's 3.33%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $215,000 in Des Moines vs $235,000 in Ames, while rents come in at $1,180/mo and $1,150/mo respectively.
Growth & appreciation: Ames is growing faster at 0.8% annually vs Des Moines's 0.7%. Des Moines leads on home value appreciation at 2.7% per year.
Costs & risk: Property taxes are 1.52% in Des Moines vs 1.5% in Ames. Vacancy rates of 5.8% and 4.2% are both healthy, suggesting strong tenant demand in both markets.
Bottom line: Des Moines edges out Ames on most key metrics. While cap rates are moderate at 3.88%, Des Moines's overall profile is stronger. Use our free calculators to model specific deals in Des Moines or Ames.