Des Moines, WA Mortgage Guide

What buyers need to know about Des Moines WA mortgages

Des Moines is a waterfront community in King County that many buyers overlook: a small city of about 34,000 residents sitting on Puget Sound between SeaTac and Federal Way. The city has its own marina, public beach, and waterfront park, with home prices that remain significantly more accessible than comparable waterfront communities to the north. With a median sale price around $600K and a median of 18 days on market as of August 2026, Des Moines rewards buyers who arrive prepared.

FHA loans are particularly well-suited to Des Moines. With 3.5% down and King County’s FHA loan limits well above the median price, first-time buyers can access genuine waterfront-adjacent ownership at a fraction of what similar access costs elsewhere. VA loans are also strong here given the proximity to military installations. For buyers with larger down payments, conventional financing offers flexibility and long-term cost advantages.

Des Moines is also gaining attention from investors and buyers looking for short-term rental potential: the combination of waterfront access, airport proximity, and accessible price points makes it an increasingly attractive market for those building long-term real estate portfolios.

Des Moines home prices, taxes, and transit in 2026

Here is the Des Moines picture by type of home over the three months ending August 2026, from Redfin’s Des Moines housing market data, alongside the NWMLS year-to-date median from the NWMLS King County report for August 2026. Across all home types, Des Moines homes sold in a median of 18 days for about 98.5% of list price, and close to 39% of listings took a price cut.

What this means for you: Des Moines has the lowest single-family median of any NWMLS area in King County this year, and almost every purchase fits under the $1,063,750 conforming limit. Waterfront and Sound-view homes along Redondo and the marina are the exception, and they can cost far more than the median. Condos near the marina are the lowest-priced way in, so check each building’s HOA finances and approvals first. My King County housing market report compares Des Moines with the rest of the county.

Property taxes. Des Moines’s 2026 levy rate is about $11.28 per $1,000 of assessed value, and the median Des Moines tax bill is about $6,667 a year (up 10.4% from 2025), according to the King County Assessor. My King County property taxes guide compares cities. This is not tax advice.

Excise tax when you sell. Washington’s graduated real estate excise tax, plus the local rate (0.5% in most King County cities), comes to roughly $9,700 on a $600,000 Des Moines sale as an illustrative example, and by local custom the seller pays it. My guide to closing costs in King County breaks it down.

Light rail and nearby guides. Since December 6, 2025, Kent Des Moines station on the 1 Line has put Des Moines a short ride from Sea-Tac Airport and downtown Seattle. Waterfront and view homes also bring their own questions, including bluff and slope inspections and, for homes near the water, flood insurance. My Burien guide covers the city to the north and my Federal Way guide the city to the south. For the whole county, start with my King County home loans page.