Location: Des Moines-West Des Moines, IA | Metro: Boone County, IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The ZIP code 50039 stands out due to its unique mix of low population density and relatively high median income and home values. With only 344 residents, it has a rental rate of 27.6%, indicating that a significant portion of the housing stock is owner-occupied. The median income of $86,250 suggests that the area is economically stable, supporting higher-end housing options. This is further evidenced by the median home value of $264,896, which is notably above average for the region.
In terms of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 50039 is set at $970 for fiscal year 2024. This figure is slightly below the market rent of $986, based on Census American Community Survey (ACS) data. Landlords should be aware that while the FMR is close to the actual market rent, they may need to adjust their expectations slightly when considering properties under this program.
The data signature for ZIP 50039 reads as "stable." The low population density combined with a high median income and home values indicates that the area is well-established and likely to experience minimal fluctuations. This stability can be beneficial for landlords and small-portfolio investors looking for consistent returns without the risks associated with transitional areas.
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.