Location: Des Moines-West Des Moines, IA | Metro: Des Moines-West Des Moines, IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The rent math in ZIP 50066 does not work favorably for landlords. The Fair Market Rent (FMR) set at $970 for fiscal year 2024 is significantly below the Census ACS reported market rent of $1,344. This discrepancy means that landlords relying solely on the FMR to set rental rates will likely see reduced profitability.
Acquisition in this area is relatively affordable, with a median home value of $234,299. However, without specific data on the number of days on the market (DOM) and the percentage of homes requiring price cuts, it's challenging to provide a comprehensive analysis. Landlords should consider these factors when evaluating potential investment properties.
Tenant demand in ZIP 50066 is limited. With a total population of 191, only 9.3% of residents are renters. This low renter share suggests that finding tenants might be difficult, especially considering the small overall population size.
Verdict: ZIP 50066 presents a challenging environment for landlords due to the significant gap between FMR and market rent, which could impact profitability. While the median home value is reasonably low, the limited tenant pool and low renter share suggest that securing long-term, stable tenancy may be difficult. Landlords should proceed with caution and carefully evaluate the local market conditions before investing.
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.