Des Moines Office Rent Price & Sales Report

2024 Office Space Rent & Sales

  • $12.78 2024 Avg. Asking Rent
  • 21.82% 2024 Office Vacancy Rate

Des Moines office price per square foot in 2024 was $12.78 on average. The local office market recorded an average vacancy rate of 21.82% across all asset classes combined.

See how this market compares to the national average: U.S. office space rent & sales.

Average Rent by Office Class

2024 Average Office Rent per Square Foot

  • Iowa Class A & A+ Office Space$19.75
  • Iowa Class B Office Space$11.96
  • Iowa Class C Office Space$9.34

Des Moines, IA Office Asking Rents by Class

2024 Office Vacancy Rates in Des Moines

Submarket Asking Rents Vacancy Rates
Northeast $22.00 28.42%
Downtown $13.67 20.69%
Ankeny $13.41 6.09%
West Des Moines $11.91 24.89%
Northwest $11.17 6.41%
East Village $10.71 29.29%
Data provided by Yardi Research
Submarket differences in factors such as property mix, degree of accessibility, and availability of amenities influence not only variation in office rent price, but also in vacancy rates. The overall office vacancy rate on the Des Moines market was 21.82% in 2024. Looking at the market stats on a more granular level, data shows that the lowest office vacancy rate in Des Moines was 6.09% in the Ankeny submarket, while the highest office vacancy in the market was 29.29%, recorded in East Village.

Office Spaces for Rent in Iowa

Coworking Spaces in Iowa

2024 Office Construction in Des Moines, IA

  • Des Moines, IA Total SF under construction in 2025 79,816
Largest Office Properties Recently Completed in Des Moines
Office building Address SF Completed
2120 Ingersoll Ave 2120 Ingersoll Ave, 50312 5,496 2021
Krause Gateway Center 1459 Grand Avenue, 50309 160,000 2018
717 Locust Street 717 Locust Street, 50309 146,261 2018
604 Locust Street 604 Locust Street, 50309 153,932 2017
1231 Keosauqua Way 1231 Keosauqua Way, 50309 9,565 2014
210 Court Ave 210 Court Ave, 50309 6,210 2014
Iowa Orthopaedic Center 450 Laurel Street, 50314 60,000 2008
Davis Brown Tower 215 10th Street, 50309 432,630 2007
100 East Euclid Avenue 100 East Euclid Avenue, 50313 199,938 2007
6058 SE 14th Street, Des Moines 6058 SE 14th Street, 50320 4,050 2007

Worth noting among recent office completions on the Des Moines market is 2120 Ingersoll Ave, which is currently the largest new office development in the city, at 5,496 square feet.

Data provided by Yardi Research

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This market stats report is based on analysis of city-level data that includes office properties equal to or larger than 25,000 square feet in size. Averages were calculated based on values dated January 1st 2024 through December 31st 2024. Construction pipeline data represented herein is valid as of February 2025. The information on this page was compiled using data provided by Yardi Research Data, a market intelligence solution which offers comprehensive real market knowledge on all Des Moines commercial properties sized 25,000 square feet or larger.

While every effort was made to ensure the accuracy of the data presented in this report, the information is provided “as is” and neither CommercialCafe nor Yardi Research Data can guarantee that the information provided is complete.