DES MOINES, Iowa – Costs for housing and apartment rents are rising nationwide and in the metro area.

According to the Federal Housing Finance Agency, in 2021, single-family homes increased by 18%, while ApartmentList.com reports rent rising by 17% in 2022.

Iowans are feeling the effects of it. Johnny Case said he moved back to Iowa after being away for three years. He said that he was surprised by the price of the rent. “I pay just as much rent here in Des Moines as I did in Las Vegas,” said Case.

Meanwhile, 17-year-old Baylee Mesecher hoped to move out of her home once she turned 18, but now she is thinking twice before moving out.

“Prices are high, and that’s scary because if you don’t have a solid job, you don’t know if you will be able to make it and don’t know if you will be able to actually live on your own,” said Mesecher.

Ibarra Realty Group in Des Moines believes there are several reasons behind the soaring rent prices. They feel more Des Moines metro area companies are hiring millennials. Investors are buying properties and setting the cost of rent, and people from larger cities are moving to Iowa.

“When they [people outside of Iowa] come here, and they see an apartment for $1200, and it’s two-bedroom and one bath they picture in their mind [thatt] back home in Chicago that was $1800 this is a deal,” said Ibarra Realty Group Real Estate Professional Jorge Rodriguez.

However, the realty group believes prices could decline if the demand for housing goes down.

According to Rentdata.org, Johnson County has the highest rental prices in the state.