Location: Shelby County, IA | Metro: Des Moines-West Des Moines, IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
55,313 The median income in ZIP code 50076 is $55,313, which provides a baseline for assessing the financial stability of potential tenants. 143,376 With a median home value of $143,376, the area reflects a moderate cost of living, suitable for middle-income families. 779 Market rents, based on Census ACS data, stand at $779 per month, indicating the average rental price in the region. 970 However, the Fair Market Rent (FMR) for the same area, as defined by HUD for fiscal year 2024, is set at $970, providing a higher benchmark for rent considerations. 11.7% Renter share in the area is 11.7%, suggesting a modest demand for rental properties. N/A The data does not provide the days on market (DOM) or the percentage of price-cut shares, leaving some uncertainty about the speed and ease of property turnover. 970 Given the higher FMR compared to the market rent, landlords can expect a reasonable margin when setting rents for their properties. 55,313 Considering the median income, it's likely that many residents qualify for housing assistance programs such as Section 8. 970 The Section 8 payment standard of $970 aligns closely with the FMR, making it an attractive option for both landlords and low-income renters. 779 Landlords who aim to remain competitive with the market rent of $779 might find the Section 8 program advantageous, as it ensures timely rent payments and supports tenant retention. 11.7% Despite the relatively low renter share, the combination of income levels and housing values suggests a stable rental market. 970 In conclusion, the alignment between the Section 8 payment standard and the FMR indicates a viable opportunity for landlords in ZIP code 50076.
970 A strong recommendation for landlords and small-portfolio investors to consider participating in the Section 8 program, given the financial parameters outlined.
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.