Location: Marshall County, IA | Metro: Marshall County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 50051 within the Marshall County, IA metro area reveals several key points regarding its viability for Section 8 real-estate investments.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area, as determined by HUD for fiscal year 2026, is set at $930. However, due to the lack of specific market rent data for comparison, it's challenging to definitively state if the rent math aligns favorably with local market conditions. Without market rent figures, we cannot assess if the FMR is above or below what tenants might expect to pay in the open market.
Regarding the affordability of property acquisitions, the data provided does not include the median home value, days on market (DOM), or the percentage of homes that have been subject to price reductions. This absence of critical metrics makes it difficult to evaluate how easy or costly it would be to purchase properties in this area specifically for Section 8 tenants.
Tenant demand is another crucial factor. ZIP 50051 has a population of 224, with a 6.5% renter share. This indicates a relatively small number of potential renters—approximately 15 individuals—which could pose challenges for maintaining a steady stream of tenants. Given the low number of residents who might be interested in renting, landlords must ensure their properties are attractive and well-managed to compete effectively.
In summary, while the FMR of $930 provides a clear benchmark for rental income, the lack of market rent data, median home values, and other acquisition-related metrics complicates a full assessment. The limited tenant pool suggests that landlords will need to focus on property quality and management to succeed in this ZIP code. Overall, the investment environment appears challenging but not impossible, with careful consideration required to navigate the specific demands and constraints of the area.
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.