When the average person thinks of Des Moines, Iowa, their mind might drift toward images of the State Fair, sprawling cornfields, or quiet Midwestern landscapes. However, for the financially savvy and the strategic investor, “what to do” in Des Moines is a question with a much more lucrative answer. Far from being a mere agricultural hub, Des Moines has quietly established itself as one of the most stable and high-performing economic engines in the United States.
Consistently ranked as a top city for business growth, wealth accumulation, and professional advancement, Des Moines offers a unique blend of “Old Money” stability and “New Money” innovation. Whether you are looking to diversify a real estate portfolio, launch a tech-driven side hustle, or optimize your personal finance strategy through geographic arbitrage, Des Moines provides a fertile ground that few coastal cities can match.
This guide explores the specific financial actions you should take to leverage the unique economic landscape of Iowa’s capital city.
Analyzing the Financial Foundation: The Insurance and Ag-Tech Boom
To understand how to move your money in Des Moines, you must first understand the pillars that support its economy. The city is famously known as the “Insurance Capital of the World,” rivaling only London and Hartford, Connecticut. This concentration of capital creates a ripple effect throughout the local economy, providing a level of financial stability that is rare in more volatile markets.
The Insurance Capital of the World
Des Moines is home to more than 80 insurance companies, including industry giants like Principal Financial Group, Voya, and Nationwide. For the individual looking for “what to do” from a career or investment perspective, this means a massive concentration of high-earning white-collar professionals. This demographic drives the local economy, fueling everything from the luxury housing market to the high-end service sector. Investing in businesses or assets that cater to this stable, high-income workforce is a classic wealth-building strategy in the region.
The Rise of Ag-Tech and Data Centers
Beyond insurance, Des Moines has become a nexus for Ag-Tech (Agricultural Technology). As global food systems become increasingly digitized, the intersection of Iowa’s farming heritage and modern software development has created a massive opportunity for venture capital and private equity. Furthermore, the region’s low energy costs and geological stability have attracted massive data center investments from Microsoft, Google, and Meta (Facebook). These facilities represent billions of dollars in capital expenditure, signaling long-term confidence in the region’s infrastructure.
Real Estate Investment: Where to Allocate Capital for Maximum ROI
If you are looking for what to do in Des Moines regarding asset allocation, real estate remains the most accessible and proven path. Unlike the hyper-inflated markets of the coasts, Des Moines offers a favorable price-to-rent ratio, allowing for meaningful cash flow in addition to steady appreciation.
Residential Growth and the “1% Rule”
In many Des Moines neighborhoods, it is still possible to find properties that approach the “1% Rule”—where monthly rent equals roughly 1% of the purchase price. Investors should look toward the western suburbs like Waukee and Ankeny, which are among the fastest-growing cities in the United States. These areas are seeing a massive influx of young families drawn by top-tier school districts and corporate headquarters, creating a perpetual demand for high-quality rental housing.
Urban Revitalization and Commercial Spaces
Downtown Des Moines has undergone a radical transformation over the last decade. The East Village and the Western Gateway districts have become hubs for boutique retail, upscale dining, and creative agencies. For the sophisticated investor, “what to do” involves looking at mixed-use commercial properties. As more corporations adopt hybrid work models, there is a growing demand for localized, “third-space” office environments and urban residential lofts that cater to young professionals who want to live, work, and play in a walkable environment.
Entrepreneurship and the Side Hustle Economy in the Heartland
The “Silicon Prairie” is not just a catchy nickname; it represents a tangible shift in how business is done in the Midwest. For those wondering what to do in Des Moines to generate active income, the city offers a supportive ecosystem for startups and side hustles that many larger cities lack.
The Startup Ecosystem and Venture Capital
Des Moines boasts a surprisingly robust network of accelerators and incubators, such as the Global Insurance Accelerator (GIA) and the Iowa AgriTech Accelerator. These programs provide not only funding but also direct access to C-suite executives at some of the world’s largest financial institutions. If you have a B2B software solution or a fintech product, there is no better place to pilot and scale your business. The cost of customer acquisition is often lower here, and the community is highly collaborative rather than cutthroat.
Tech-Enabled Service Businesses
There is a significant gap in the Des Moines market for high-end, tech-enabled service businesses. Whether it is digital marketing for local mid-sized firms, specialized IT consulting for the insurance sector, or high-end property management, the demand for professional services often outstrips the local supply. Starting a side hustle in these niches allows you to tap into the high discretionary income of the city’s corporate workforce while benefiting from the low overhead costs of operating in Iowa.
Optimizing Personal Finance: Leveraging the Low Cost of Living
Perhaps the most impactful thing you can “do” in Des Moines is to practice geographic arbitrage. This is the process of earning a high-level salary while living in a location with a significantly lower cost of living. By doing so, you can accelerate your “FIRE” (Financial Independence, Retire Early) goals by years or even decades.
Maximizing Purchasing Power
In Des Moines, the median home price remains well below the national average, yet the median income for professional roles often rivals those in more expensive metros like Chicago or Minneapolis. When your mortgage or rent accounts for only 15-20% of your take-home pay—rather than the 40-50% common in coastal cities—your ability to invest in the stock market, crypto, or private equity grows exponentially. What you “do” in Des Moines is essentially “buy back your time” by reducing your financial overhead.
Wealth Management and Retirement Planning
Because Des Moines is a financial hub, the city is saturated with high-quality wealth management and tax planning services. One of the best financial moves to make in the city is to engage with local specialists who understand the tax advantages specific to Iowa, such as the recent movements toward a flat income tax and exemptions on certain types of retirement income. Strategic tax planning in a business-friendly state like Iowa can result in six-figure savings over the course of a professional career.
Conclusion: The Des Moines Advantage
When asking what to do in Des Moines, Iowa, it is easy to get distracted by the surface-level attractions. But for those focused on money—on its creation, its growth, and its preservation—Des Moines is a destination of strategic importance.
The city offers a rare trifecta of economic opportunities: a stable, high-income corporate base; a real estate market that balances cash flow with appreciation; and a cost of living that allows for aggressive wealth accumulation. By focusing on the insurance and tech sectors, diversifying into the growing residential and commercial real estate markets, and leveraging the local ecosystem for entrepreneurship, you can turn a mid-sized Midwestern city into the ultimate engine for financial freedom.
In Des Moines, the most important thing to “do” is to recognize that the quiet pace of the Midwest belies a roaring economic engine. For the investor who values stability, growth, and high ROI, Des Moines isn’t just a place to live—it’s a place to build a legacy.
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