Location: Des Moines-West Des Moines, IA | Metro: Jasper County, IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
ZIP code 50054, located within the Des Moines-West Des Moines, IA HUD Metro FMR Area, presents a unique set of characteristics when compared to the typical ZIP codes within this metro area. The Fair Market Rent (FMR) for ZIP 50054 is $970 for fiscal year 2024, which is notably higher than the market rent figure of $833. This indicates that the federally determined fair market rent is slightly inflated relative to what the actual market dictates, potentially making it a more attractive location for tenants receiving Section 8 assistance.
The median home value in ZIP 50054 is $235,188. While this figure is not explicitly compared against other ZIP codes in the area, it suggests that 50054 could be considered a mid-tier neighborhood within the Des Moines-West Des Moines metro. Home values in the metro can vary widely, but $235,188 represents a moderate price point, indicating neither an exceptionally low nor high-value area.
A significant factor to consider is the 24.1% renter share in ZIP 50054. This percentage is relatively high and could signal a concentration of renters who might benefit from Section 8 assistance. Typically, a higher renter share combined with lower-than-metro average home values can indicate a 'sweet spot' for Section 8 properties, as it means there is both a demand for rental housing and a potential for subsidized tenants to afford living in the area.
In summary, ZIP 50054 appears to be a mid-tier neighborhood within the Des Moines-West Des Moines metro. Its FMR is above the market rent, suggesting a favorable environment for Section 8 tenants. The relatively high renter share coupled with a moderate home value indicates that it could be a desirable location for landlords looking to attract subsidized tenants without venturing into the lowest-value areas of the metro.
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.