Side-by-side comparison of home prices, mortgage payments, and housing costs between Cedar Rapids and Des Moines, Iowa. Using Iowa's 1.52% property tax rate and $1,800/year insurance. Updated for 2026.
Metric
Cedar Rapids
Des Moines
Median Home Price
$195K
$225K
Population
137,710
214,133
Average Rent
$1,020/mo
$1,120/mo
Est. Monthly Mortgage (P&I)
$1,109/mo
$1,280/mo
Est. Monthly Property Tax
$247/mo
$285/mo
Est. Monthly Insurance
$150/mo
$150/mo
Est. Total PITI
$1,579/mo
$1,799/mo
Price-to-Rent Ratio
15.9
16.7
Verdict
Cedar Rapids edges out Des Moines in affordability, saving you roughly $220/month on total housing costs. Both cities are in Iowa, so property tax rates and insurance costs are the same — the difference comes down to home prices and what you get for your money in each market.
Monthly Payment Comparison
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses Iowa's 1.52% property tax rate.
Cedar Rapids
Home Price$195,000
Down Payment (10%)$19,500
Loan Amount$175,500
Monthly P&I$1,109
Monthly Property Tax$247
Monthly Insurance$150
Monthly PMI$73
Total PITI$1,579/mo
Annual property tax: $2,964
Des Moines
Home Price$225,000
Down Payment (10%)$22,500
Loan Amount$202,500
Monthly P&I$1,280
Monthly Property Tax$285
Monthly Insurance$150
Monthly PMI$84
Total PITI$1,799/mo
Annual property tax: $3,420
Buying in Cedar Rapids saves you approximately $220/month ($2,640/year) compared to Des Moines, based on median home prices with identical loan terms.
Which City Is Better For...
First-Time Buyers
Cedar Rapids is the better choice for first-time buyers, with a median price of $195K versus $225K in Des Moines. That's $30K less to save for a down payment. You'd need roughly $7K for an FHA 3.5% down payment in Cedar Rapids, compared to $8K in Des Moines. Iowa offers the IFA FirstHome program ($2,500 grant) which applies in both cities.
Real Estate Investment
Cedar Rapids has the better price-to-rent ratio at 15.9x versus 16.7x in Des Moines. A lower ratio generally signals better rental income relative to purchase price. Average rent in Cedar Rapids is $1,020/month on a $195K median home, making it a stronger candidate for buy-and-rent investors.
Families
Des Moines (pop. 214,133) offers more amenities, schools, and services typical of a larger city, while Cedar Rapids (pop. 137,710) may offer a quieter, more community-oriented lifestyle. Families on a budget may prefer Cedar Rapids, where lower housing costs free up more income for childcare, education, and savings.