Des Moines made the National Association of Realtors' Top 10 Most Favorable Areas for Millennials During the Pandemic. The top 10 metro areas were chosen for a combination of better affordability compared to a year ago, relatively better inventory availability, higher shares of millennial residents, lower shares of most affected industries by the lockdown and fewer job losses during the pandemic than average.
improving Affordability
Lance Hanson, President of the Des Moines Area Association of Realtors®, is proud of how low rent is here in Des Moines. "The average rent here is 50% of what it is nationally.
Because of the higher wages Des Moines offers, Millennials are more likely to own a home here than they are nationally. They can come here and easily buy a home. When Millennials save money by not renting, they invest that money into things that are more life-changing. Starting here can change a young person's life.
Inventory Availability
Strong Presence of Millennials
Des Moines has a 17% share of Millennials. "We are creating this new generation of young people staying here. It’s changing now. Overall, we’re lowering our age of population," says Hanson.