Location: Adair 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 | $850 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $144,682 | 0.73% | D |
| 3BR | $1,440 | $228,934 | 0.63% | D |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $970 for zip code 50048 in Casey, IA, for fiscal year 2024, landlords can expect to receive this amount per unit if participating in the Section 8 program. The market rent, according to the Census ACS, stands at $814, indicating that the FMR provides a premium of $156 above the average rental rate. Given the median home value of $200,609, it's clear that there is potential for steady cash flow from rental properties, especially those eligible for Section 8 subsidies. The renter share of 24.5% suggests a moderate demand for rental units, balancing between high competition and low occupancy risks.
$54,688 is the median income figure for the area, which is crucial for determining eligibility for Section 8 housing. While the day DOM (days on market) and price-cut share data are not available, the existing figures provide enough insight into the rental market dynamics. The gap between the FMR and market rent highlights an opportunity for landlords to increase their rental income without significantly raising the rent beyond what tenants can afford under the Section 8 program.
In Casey, IA, the Section 8 program offers a reliable source of income for landlords, ensuring a consistent stream of rental payments that align with the local housing market. With the premium offered by the FMR over the market rent, landlords can secure better returns on their investment properties. Moreover, the moderate renter share indicates a stable tenant pool, reducing the risk of vacancy and ensuring a steady occupancy rate. Given the median income levels, there is a significant portion of the population that would qualify for Section 8 assistance, further stabilizing the rental market.
The verdict for Section 8 participation in Casey, IA, is positive. Landlords can leverage the $970 FMR to ensure a reliable income stream while providing affordable housing options to residents with a median income of $54,688.
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.