Location: Decatur County, IA | Metro: Decatur County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,660 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
U.S. Census Bureau data (2024)
17.3% of the residents in ZIP code 50065 are renters, indicating a significant but not overwhelming demand for rental properties in the area. Given the $1,380 Fair Market Rent (FMR) set for metro areas in fiscal year 2026, landlords can expect to receive this amount per unit for Section 8 vouchers, which is notably lower than the $2,150 average market rent reported by the Census American Community Survey. This difference suggests that while Section 8 tenants may provide steady income, it will be below the local market rate. The median home value stands at $169,977, which is relatively affordable and could attract first-time buyers or those looking for investment opportunities. However, the median income of $49,423 might limit the purchasing power of potential homeowners, making rentals an attractive option for many. Unfortunately, the data does not provide specifics on the number of days on market (DOM) or the percentage of homes that have been price-cut, which would be valuable indicators for assessing the current market conditions and competition among landlords. In conclusion, for landlords and small-portfolio investors, the ZIP code 50065 offers a balanced opportunity where Section 8 can be a viable strategy, though it will not match the higher rents commanded by the private market.
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.