Location: Decatur County, IA | Metro: Decatur County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The ZIP code 50067 has a population of 354 residents, with only 0.8% being renters. This indicates that it is primarily a homeowner-dominated area rather than a renter-heavy zone. The low percentage of renters suggests that there is likely not a deep voucher demand in this ZIP code.
The median household income in ZIP 50067 stands at $43,750. Without specific data on market rents, we cannot calculate the exact percentage of local income that goes towards rent. However, we can compare the median income to the Fair Market Rent (FMR), which is set at $1,040 for the fiscal year 2026 in the metro area. Assuming a similar FMR for ZIP 50067, a household would spend approximately 28.3% of their annual income on rent if they were renting a unit at the FMR. This calculation is based on the assumption that the FMR is applicable and represents the average rent in the area.
A landlord in ZIP 50067 should expect tenants who rely heavily on housing vouchers due to the limited number of renters and the relatively high cost of rent compared to the median income. Given the low percentage of renters and the modest median income, these tenants are likely to be in need of subsidized housing and may have a lower ability to pay rent above the voucher amount.
To conclude, ZIP 50067 is not a renter-heavy area and does not appear to have a large pool of potential Section 8 tenants. Landlords should prepare for a tenant base that is largely dependent on housing vouchers, with incomes that might struggle to cover additional costs beyond the voucher support.
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.