Rents are 5% below what Ankeny's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,464 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in Ankeny usually run 1.6% below trend in January and 1.4% above it in July, about $44 a month apart at today's median. Based on 8 years of data.
Rent in Ankeny is at its highest level since Zillow's records here began in April 2018.
Rent in Ankeny changed +1.9% over the year to September 2026. Across the 26 Iowa cities Zillow tracks, the typical change was +4.5%.
From 2019 to 2024, rent in Ankeny rose 24.1% while median household income rose 25.1% ($86,486 to $108,198). Income kept ahead of rent.
Rent in Ankeny is 28.4% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 4 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($108,198) is $2,705 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($1,945).
Des Moines, 9 miles away, rents for 23% less ($1,129/mo), about $4,000 a year in savings.
From Zillow's monthly rent index (ZORI) for Ankeny. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Ankeny, IA is majority owner-occupied, has a large share of families with children, has a median income above the national average, 52.1% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Ankeny, IA has changed in 5 years
Since 2021, the typical rent in Ankeny, IA has increased from $1,208 to $1,464, a 21.2% change over five years. Census figures show median household income at $108,198 today, compared with $92,959 five years earlier. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 9.4% since 2021, moving from about 66,346 residents to roughly 72,615. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.
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At $1,464/mo, how Ankeny rent compares to typical pay (30% rule).
Ankeny rent by bedroom count
Median rent for each apartment size in Ankeny. Click any size for full breakdown.
Tips for renters in Ankeny
Last updated: October 17, 2026
The median rent in Ankeny is $1,464/mo as of October 2026. A studio apartment averages $1,135/mo while a 2-bedroom runs $1,445/mo. One-bedroom apartments average $1,210/mo and 3-bedroom units go for $1,940/mo.
At 16% of local median household income ($108,198/yr), Ankeny ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.9% over the past year.
Frequently asked questions
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Which nearby cities are cheaper to rent in than Ankeny?
At $1,464/mo, rent takes ~16% of Ankeny's median household income ($108,198/yr). The standard benchmark is 30%.
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