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Over the last 10 years the Des Moines Metro Area has experienced employment growth of 18.4%, which is +5 points higher than the US over the decade.
Employment continues to rise as in-migration drives the fastest growing large metro in the Midwest.
The highest ten-year job growth is among Construction, and Professional & Business Services.
GDP increased almost $2 billion (3.2%) from 2023 to 2024, a significant increase compared to the previous two years. Overall GDP exceeded $62 billion in 2024.
The MSA, along with the rest of the Nation on average, saw growth well above 5% from 2020 to 2021. With high inflation in 2021, the Federal Reserve began raising interest rates to cool the economy. This could be part of the reason for GDP stagnation from 2021 to 2023. Interest rates began to decrease again in 2024, likely contributing to the greater increase from 2023 to 2024.
The median household in the Des Moines Metro earns over $86K. Median income in the MSA surpasses the national average by roughly $4.9K, continuing a trend of higher median income since at least 2020.
Median household income grew by 3.5% from 2023 to 2024, faster than the year prior. Consistent growth in household income is a positive sign of the economy, in contrast to the up-and-down variation of GDP.
