Location: Des Moines-West Des Moines, IA | Metro: Des Moines-West Des Moines, IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,950 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
U.S. Census Bureau data (2024)
ZIP code 50032, located in Berwick, Iowa, is part of a small rural community with a total population of 395. Given the limited data available, it's important to note that the median income and median home value are listed as $0, indicating a lack of reliable statistical information. However, we know that 18.4% of the residents are renters, which suggests a modest rental market.
The Federal Market Rent (FMR) for ZIP 50032 in fiscal year 2024 is set at $1,160. This figure is critical for Section 8 investors because it represents the maximum amount that the government will subsidize for rental units. Without a specific market rent figure, we can infer that the rental market in this area is likely lower than the FMR, which could make it attractive for hands-off voucher operators who seek stable, government-backed rental income.
Given the low population and the absence of detailed income and home value data, ZIP 50032 appears to be better suited for hands-off investors rather than those looking to actively manage properties or engage in value-add strategies. The limited demand for rentals and the lack of robust economic indicators suggest that there may not be significant opportunities for property appreciation or substantial improvements in rental rates beyond the FMR.
To summarize, ZIP 50032 offers a niche market for hands-off Section 8 investors seeking a stable, albeit smaller, portfolio. The community's characteristics and the available data point towards a modest rental environment where the FMR is a key determinant of potential returns.
Data Sources: FMR data from HUD (2027). 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.