Location: Hamilton County, IA | Metro: Hamilton County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 50075, as determined by HUD for metro FY 2026, is set at $1,110. This figure represents the payment standard for Section 8 housing vouchers, meaning that if you participate in the program, this is the maximum amount a voucher will cover for rent and utilities combined. It's important to note that this does not necessarily mean your property will be rented out for $1,110; it's the benchmark used to calculate the voucher amount.
In comparison, the average rent for properties in ZIP 50075 is currently around $800, according to recent Census Bureau American Community Survey (ACS) data. This indicates that the FMR is higher than the typical market rate, which could be beneficial for landlords participating in the Section 8 program, as they are likely to receive a higher subsidy than the average rent charged in the area.
The rental share in ZIP 50075 stands at 34.6%, suggesting a significant portion of the population are renters. This high percentage points to strong demand for rental properties, making it a favorable environment for landlords. However, the median household income in the area is approximately $204,777, which is notably higher than the average rent and might imply that many residents can afford market-rate housing, potentially leading to competition with Section 8 tenants.
To ensure success with your first Section 8 rental in this ZIP code, it's crucial to verify the specific payment standard for your property type. The overall FMR of $1,110 may vary depending on whether your property is a studio, one-bedroom, two-bedroom, etc. This verification step will help you understand exactly how much you can expect to receive through the voucher program, ensuring your investment aligns with your financial goals.
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.