Des Moines, IA Multifamily Market Report | MMG Real Estate Advisors | Q1 2026

Market Overview

Des Moines' multifamily market showed durable underlying demand in Q1 2026, with trailing 12-month absorption of 1,778 units falling short of the 2,028 units delivered, though demand more than doubled from 728 units a year earlier. Average effective rents stood at $1,147, down 0.4% annually, while stabilized occupancy of 92.1% was down 60 basis points year-over-year, with both metrics stabilizing and rent growth projected to reach 1.1% by Q4 2026. Supply pressure is easing materially, with the construction pipeline contracting 41% and starts declining 63% over the past year, pointing to a significantly lighter delivery environment through 2026 and into 2027. NOTE: The full report requires submitting contact information through a download form; the description above reflects publicly visible market snapshot data only.

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About MMG Real Estate Advisors

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MMG Real Estate Advisors is a multifamily investment sales and research firm tracking apartment market fundamentals across the Southeast, Midwest, and beyond. Their Q1 2026 Des Moines multifamily market snapshot tracks rent, occupancy, absorption, and supply trends to help owners and investors assess market timing. To read the full report, click here.