Location: Franklin County, IA | Metro: Franklin County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The ZIP code 50041 stands out due to its unique demographic and economic characteristics. With only 51 residents, it is one of the smallest ZIP codes in terms of population. However, a striking 75.6% of these residents are renters, indicating a strong demand for rental properties. Despite the high percentage of renters, the median income and median home value data are currently unavailable, suggesting potential gaps in comprehensive local economic analysis.
In the context of Section 8 housing, the Fair Market Rent (FMR) for the metro area covering fiscal year 2026 is set at $960. This figure serves as a benchmark for determining the maximum rent that can be charged to tenants participating in the federal housing assistance program. The absence of market rent data for ZIP 50041 means that landlords and investors must rely on regional averages or consult local real estate agents for guidance on setting competitive rents. Given the high rate of renting and the limited population, landlords should be prepared for a potentially tight rental market where vouchers can play a crucial role in tenant acquisition.
Based on the available data, ZIP 50041 appears to have a transitional character. The reliance on rental housing and the lack of detailed economic indicators suggest that the area may be undergoing changes in its housing dynamics. Landlords and small-portfolio investors should closely monitor local trends and consider the impact of Section 8 vouchers in stabilizing their occupancy rates and ensuring a steady cash flow. While the exact nature of the transition remains unclear without further data, the high demand for rental properties indicates a need for quality, affordable housing solutions.
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.