Location: Poweshiek County, IA | Metro: Keokuk County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
The ZIP code 50104 presents a mixed tenant landscape, neither overwhelmingly renter-heavy nor dominated by homeowners. With 17.3% of residents renting, there is a notable but not overwhelming presence of potential Section 8 tenants. The median household income stands at $55,625, which is a key figure when considering the financial viability of accepting Section 8 vouchers.
While the exact market rent for ZIP 50104 is not provided, we can use the Fair Market Rent (FMR) as a benchmark. For fiscal year 2026, the FMR in the metro area is set at $970. This means that the typical rent eats up approximately 17.5% of the median income, calculated by assuming a monthly income of roughly $4,635 ($55,625 divided by 12 months).
The FMR serves as an upper limit for rental assistance payments under the Section 8 program. In ZIP 50104, landlords who accept vouchers should be prepared to receive rent payments that do not exceed this amount. Given the median income, it's likely that many Section 8 tenants will have additional income sources beyond their vouchers, allowing them to cover the difference between the voucher payment and the actual market rent if it exceeds $970.
The tenant profile in this ZIP code will generally consist of individuals and families who rely on rental assistance to secure housing. Landlords should anticipate tenants who may have a history of financial instability or other challenges that necessitate government support. However, the percentage of renters suggests that there is competition for rental properties, meaning landlords who provide well-maintained, affordable units are likely to attract stable tenants.
To conclude, while the ZIP code is not heavily reliant on renters, there is still a significant portion of the population that could benefit from Section 8 vouchers. Landlords in ZIP 50104 should consider the financial implications carefully, balancing the need for affordable housing against their own financial goals. Accepting vouchers can lead to a steady stream of tenants, albeit with some administrative oversight from the housing authority.
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.