2025 Q2 Des Moines Multifamily Market Report

Market Overview

In Q2 2025, Des Moines’s multifamily market faced ongoing pressure, with average rent holding at $1,161 and occupancy dipping to 92.4 percent. Net absorption totaled 507 units in the first half, trailing behind 765 new completions. Rent growth remained muted at 0.2 percent year-over-year, and occupancy declined 140 basis points. However, the market shows signs of stabilization as only 240 new units broke ground in H1—a 69 percent drop—suggesting tightened fundamentals and potential demand acceleration ahead.

About Colliers

Colliers is a global commercial real estate services firm headquartered in Toronto, delivering expertise across brokerage, capital markets, valuation, advisory, and research. Its multifamily Market Snapshot | - s provide regional data combined with professional insights to help investors, owners, and developers navigate shifting supply-demand dynamics.