Location: Audubon County, IA | Metro: Des Moines-West Des Moines, IA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,350 | $200,931 | 0.67% | D |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 50002 is poised for a period of stability and potential growth over the next 12-24 months. With a median home value of $198,149, there is a strong foundation for both pricing power and investment opportunities. The absence of percentage reductions in listings and the unspecified median days on market (DOM) indicate that the market is neither experiencing significant downward pressure nor an unusually high rate of turnover. This suggests a balanced environment where neither buyers nor sellers have overwhelming leverage.
On the rental side, the Fair Market Rent (FMR) set at $970 for fiscal year 2024 contrasts with the current market rent of $893, based on Census ACS data. This gap signals an opportunity for landlords and small-portfolio investors to potentially increase rents to align more closely with FMR standards without losing tenants, assuming the local economy supports such adjustments. However, it's important to consider that the rental market can be sensitive to economic conditions, and any strategy should account for tenant affordability and market demand.
For long-term investors, the data implies a realistic appreciation thesis centered around modest growth. The combination of stable home values and a positive differential between FMR and current market rents suggests that property values could gradually rise, driven by both natural inflationary pressures and increased demand for rentals. However, the lack of significant historical data on percentage reductions and DOM does not provide a robust basis for predicting rapid appreciation. Instead, the setup points towards a scenario where steady, conservative growth is more likely, making ZIP 50002 a suitable location for those looking to build long-term wealth through real estate ownership.
In summary, the current median home value, coupled with the observed rental dynamics, sets the stage for a market where pricing power is relatively balanced. Landlords and investors can expect a period of stability with potential for gradual increases in both property values and rental income, contingent upon broader economic conditions and tenant demand.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.