Des Moines named ‘Best Place’ for young professionals to live by Forbes

August 16, 2023 by No Comments

According to Forbes, Des Moines is the best place to live for young professionals. They said that Des Moines stands out as the swiftest-expanding significant metropolitan area within the Midwest region, showcasing both economical residence rentals and a minimal unemployment rate. Recent recognition from Forbes Advisor has further highlighted Des Moines as the premier destination for young professionals seeking a place to reside.

In a comprehensive analysis, Forbes Advisor meticulously assessed the 100 most populous metropolitan regions, encompassing 99 locales with available data. The evaluation encompassed 10 distinct metrics spanning four primary categories: job market and remuneration, housing cost viability, lifestyle, and living expenses.

In order to identify the preeminent 10 metropolises in the United States where young professionals can comfortably establish themselves, Forbes Advisor meticulously computed the presumed monthly amortization payment for each locality. This calculation took into account the median property value of the metro, a fixed 30-year mortgage interest rate set at 6.5%, and a down payment of 10%.

Additional rationale includes:

  • Des Moines secured the eighth lowest rank in terms of monthly rental expenditures at $1,103, coupled with a median residential property value of $265,300.
  • The unemployment rates within the metropolitan area positioned it as the seventh least affected across the comprehensive study, registering a mere 2.4%.
  • The median age of the region’s inhabitants is approximately 36.4 years.
  • Within the Des Moines metro, the median annual income stands at $47,097.
  • Prospective homeowners aiming to accumulate funds for a down payment can anticipate a relatively swift process, given that a 10% down payment on a property with the median price equates to approximately 56.33% of the median individual income within Des Moines.

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