Section 8 Fair Market Rent (FMR) for ZIP 50102 - 2027
Location: Hardin County, IA | Metro: Hardin County, IA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $690 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$N/A
When considering whether to invest in ZIP code 50102 for Section 8 properties, follow this decision tree:
- Does FMR $920 (metro FY 2026) clear debt service on a property?
- If the property's debt service is less than $920, then the answer is Yes. The Fair Market Rent (FMR) covers the necessary expenses.
- If the property's debt service exceeds $920, then the answer is No. The FMR does not provide sufficient income to cover the costs.
- Is market rent above, at, or below FMR?
- If market rent is above $920, then the answer is It depends. Landlords might consider if they can attract non-Section 8 tenants who pay higher rents.
- If market rent is exactly $920, then the answer is Yes. There is parity between the FMR and market rent, making it feasible to operate under Section 8 guidelines.
- If market rent is below $920, then the answer is No. Accepting Section 8 tenants would mean accepting lower rent than the market rate.
- Are 0.0% renters + N/A-day DOM enough demand?
- The percentage of renters in ZIP 50102 is listed as 0.0%, which is likely an error or incomplete data. Assuming this figure is incorrect, you must evaluate the demand based on other metrics such as days on market (DOM).
- If DOM is low (e.g., less than 30 days), indicating quick turnover, then the answer is Yes. There is strong demand for rental properties in this area.
- If DOM is high (e.g., more than 60 days), indicating slow turnover, then the answer is No. Demand is insufficient to support a Section 8 investment.
- If DOM data is unavailable, then the answer is It depends. You will need to conduct further research into the local rental market to assess demand accurately.
Note: Due to missing or incorrect data points (N/A for debt service, market rent, and DOM), some branches of the decision tree rely on assumptions or require additional investigation. Ensure you have accurate figures before proceeding with your analysis.
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.