Location: Des Moines-West Des Moines, IA | Metro: Des Moines-West Des Moines, IA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $970 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,200 | $257,495 | 0.47% | F |
| 3BR | $1,640 | $357,054 | 0.46% | F |
| 4BR | $1,680 | $410,860 | 0.41% | F |
U.S. Census Bureau data (2024)
The ZIP code 50072, located in Earlham, IA, has a population of 2,979 residents. Among these, only 14.5% are renters, indicating that this area is primarily dominated by homeowners rather than renters. This suggests that the demand for rental properties, especially those catering to Section 8 tenants, is relatively low compared to areas with higher percentages of renters.
The median household income in Earlham is $111,250, which places it in a higher-income bracket. The average market rent in this area is $784 per month. To put this into perspective, the typical rent consumes approximately 7.6% of the local median income. This is calculated by dividing the monthly rent by the annual median income and multiplying by 12. Given the Federal Market Rent (FMR) for FY 2024 is $970, the current market rent is below the FMR, suggesting that rental prices are lower than the federal benchmark.
The scarcity of vouchers in this area can be inferred from the low percentage of renters. Landlords in ZIP 50072 should expect a tenant pool that is less reliant on housing vouchers. Most tenants would likely be able to afford higher rents due to the strong local economy and high median income. However, landlords who choose to accept Section 8 vouchers will find the rent-to-income ratio favorable, as the FMR is higher than the market rent, indicating that voucher holders could cover the cost of renting without significant financial strain.
In summary, ZIP 50072 is not a renter-heavy area with deep voucher demand. Instead, it is an area where homeownership is prevalent, and the income levels suggest that tenants can afford a larger portion of their income towards rent. For landlords, the expectation should be tenants who can pay close to or slightly above the market rate, with some flexibility for those who might qualify for housing assistance.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.