Jun 22, 2021 - Real Estate
Mapping home price spikes in the Des Moines metro
Data: Zillow; Map: Sara Wise/Axios

Home prices in inner-city neighborhoods have seen the biggest increases in the DSM metro over the last five years, according to data from Zillow.

Why it matters: Meatier home values make redevelopment more attractive to investors and help grow the tax base.

  • But the data also shows DSM has made progress against the "donut effect," the hollowing of a city's center as people and business flee to outer areas.
  • It's been an issue in our metro for decades, and it's in part why dozens of neighborhoods have formed official organizations to leverage powerful investment arms.

By the numbers: ZIP code 50314 — in the Riverbend and Sherman Hill neighborhoods — posted the biggest jump ($74,732 to $116,916), almost 60%.

  • ZIP code 50316 — in the Martin Luther King Jr. and Capitol East neighborhoods — jumped $87,488 to $132,147. That's around 51%.

Between the lines: The city has targeted a string of improvements to neighborhoods with sluggish or declining property values, such as the Riverbend area.

  • Take the Sixth Avenue revitalization. It's an ongoing multi-year plan transforming an area once littered with rundown properties into a growing business and residential district.
  • There's also Riverview and Birdland parks, where big improvements are being made to nearby recreational areas.

What they're saying: The Riverbend area has been a recent hot spot for first-time home buyers or people with lower income because of its affordability and proximity to downtown, real estate agent and neighborhood president Chris Chiaramonte told Jason last week.

  • The goal now is to keep the momentum going, said Mike Hildebrand, a River Bend neighborhood board member who has restored multiple homes.

Of note: These three zips have the most expensive average home values:

  • 50061 (Cumming): $398,843.
  • 50323 (Urbandale): $380,562.
  • 50325 (Clive): $322,816.

Go deeper: There's an interactive version of the map above on our website, so you can see just how much things have changed in your own ZIP code.

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