ZIP Code · IA

ZIP 50023

Part of Ankeny, IA

Pop. 46,306·Polk County·10th most expensive ZIP in Iowa

Median rent (all units)

$1,459/mo

Year-over-Year

+2.0%

Month-over-Month

+0.2%

vs US Median

-$473

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 50023 · $1,459

More affordable than 76% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,160

1 BR

$1,210

2 BR

$1,440

3 BR

$1,960

4 BR+

$2,010

Research median

$1,440/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

January. Asking rents in ZIP 50023 usually run 1.7% below trend in January and 1.4% above it in July, about $45 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 50023 is at its highest level since Zillow's records here began in January 2021.

Past year vs. the rest of Iowa

Rent in ZIP 50023 changed +2.0% over the year to September 2026. Across the 45 Iowa ZIP codes Zillow tracks, the typical change was +4.3%.

Recent direction

Rent has risen 4 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($117,826) is $2,946 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($2,010).

Cheaper nearby

ZIP 50313, 5 miles away, rents for 21% less ($1,158/mo), about $3,600 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 50023. 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.

Annual cost

$17,508/yr

At $1,459/mo median

Location

CityAnkeny

StateIA

CountyPolk County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.0% YoY, +0.2% MoM), not inventory.

Demographics

Who lives here

ZIP 50023 (Ankeny, IA) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 53.4% of residents hold a bachelor's degree or higher.

Population

46,306

Median income

$117,826

Median age

33.2

Renters

28.5%

Age distribution

27.7%

25.1%

28.8%

Under 1827.7%

18–3425.1%

35–5428.8%

55–647.6%

65+10.8%

Gender

51%

49%

Male51%

Female49%

Race & ethnicity

89.3%

White89.3%

Black2%

Hispanic3.9%

Asian2.9%

Other1.8%

Education (25+)

15.1%

30%

53.4%

No HS diploma1.5%

HS diploma15.1%

Some college30%

Bachelor's+53.4%

Housing tenure

71.5%

28.5%

Owner71.5%

Renter28.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 50023 in Ankeny, IA has changed in 5 years

Rent

$1,197 → $1,459

up 21.9%

Income

$97,582 → $117,826

up 20.7%

Population

42,550 → 46,306

up 8.8%

Renter share

28.5% → 28.5%

+0.0 pts

Bachelor's+

53.6% → 53.4%

-0.2 pts

Median age

32.3 → 33.2

+0.9 yrs

Five years ago, renters in ZIP 50023 in Ankeny, IA paid around $1,197 a month. That figure now sits near $1,459, up 21.9% from the 2021 baseline. Household income in the area moved from $97,582 to $117,826 across the same window, up 20.7% versus 2021. Census counts show ZIP 50023 in Ankeny, IA adding about 3,756 residents over the five-year window, up 8.8% on net. Reading these numbers side by side helps frame whether current listings in ZIP 50023 in Ankeny, IA look reasonable against where the market sat half a decade ago.

Community

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Local insights

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About renting in ZIP 50023

Last updated: October 17, 2026

ZIP code 50023 covers Ankeny, IA. The median rent here is $1,459/mo as of October 2026. A 1-bedroom rents for a median of $1,210/mo. A 2-bedroom rents for a median of $1,440/mo.

At 15% of local median household income ($117,826/yr), ZIP 50023 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.0% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 50023?

To keep rent at or below 30% of gross income, you would need to earn at least $58,000/year (about $28/hour full-time) to afford the median rent of $1,459/mo in ZIP 50023. The local median household income is $117,826/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 50023?

Rent in ZIP 50023 has risen 2.0% over the past year as of September 2026. That is the highest level since Zillow's records here began in January 2021.

When is the cheapest time to rent in ZIP 50023?

Asking rents in ZIP 50023 are usually lowest in January, about 1.7% below their yearly trend, and highest in July, about 1.4% above it. At today's median that is a gap of roughly $45 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 50023 compare to other ZIPs in Iowa?

ZIP 50023 is one of the pricier among Iowa ZIP codes for rent, ranking #10 of 54 at $1,459/mo. Over the year to September 2026, rent in ZIP 50023 changed +2.0%, against a typical +4.3% across the 45 Iowa ZIP codes Zillow tracks.