Median household income: $63,966; value-to-income ratio 2.87. Des Moines ranks 24 by home value and 1 by population among 42 places in our IA dataset.
What does an FHA loan cost on a typical Des Moines home?
| Item | Des Moines |
|---|---|
| Median home value (Census ACS) | $183,700 |
| Iowa median home value | $195,900 |
| Down payment (3.5%) | $6,430 |
| Loan incl. 1.75% upfront MIP | $180,373 |
| Estimated monthly payment (PITI + MI) | $1,633 |
| Income needed (28% / 36%) | $71,000 / $55,000 |
| Polk County 2026 FHA limit (1 unit) | $541,287 |
| Max purchase price at the limit | $560,000 |
Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.
Payment includes Iowa's 1.43% effective property tax rate (Census ACS), $1,342/yr homeowners insurance (NAIC state average) and 0.55% annual FHA MIP.
What is the 2026 FHA loan limit in Des Moines?
Des Moines is in Polk County where HUD's 2026 one-unit FHA limit is $541,287. With the minimum 3.5% down, that caps the purchase price at about $560,000; above that you'd need a bigger down payment or a conventional loan (conforming limit $832,750).
The Des Moines median home value of $183,700 is 6% below the Iowa median, and within what the county limit supports.
Which down payment assistance programs can Des Moines buyers use?
- Iowa Finance Authority 2nd Loan Program — Up to 5% of the home's sale price or appraised value (whichever is lower), with no maximum; deferred; state-level. Iowa Finance Authority · Verified October 23, 2026
- FirstHome Down Payment and Closing Costs Grant — $2,500 grant; grant; state-level. Iowa Finance Authority · Verified October 23, 2026
FHA loans in nearby cities
FHA loan FAQs for Des Moines
Sources
- U.S. Census Bureau — ACS 2019–2023 5-Year Estimates
- HUD — 2026 FHA Forward Mortgage Limits (county file)
- HUD Single Family Housing Policy Handbook 4000.1
- NAIC — Homeowners Insurance Report, Data for 2023 (HO-3 average premium)
- Freddie Mac — Primary Mortgage Market Survey
- Iowa Finance Authority — Iowa Finance Authority 2nd Loan Program
- Iowa Finance Authority — FirstHome Down Payment and Closing Costs Grant
Data last updated October 23, 2026.
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Get My MatchesFigures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.