Location: Des Moines-West Des Moines, IA | Metro: Des Moines-West Des Moines, IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
Guthrie Center, IA, located in ZIP code 50115, stands out due to its relatively low population of 2,809 residents, with only 19.7% of them renting their homes. The median income in the area is $73,848, while the median home value sits at $206,106. These figures paint a picture of a community that is predominantly owner-occupied and has a moderate economic standing.
The voucher economics in ZIP 50115 are particularly noteworthy. The Fair Market Rent (FMR) for the zip code for fiscal year 2024 is set at $970, which is notably higher than the $833 market rent reported by the Census Bureau's American Community Survey (ACS). This discrepancy means that landlords accepting Section 8 vouchers can expect to receive a higher rental rate compared to the local market average. It also suggests that there might be an incentive for landlords to participate in the Section 8 program to benefit from these higher rates.
Given the data, ZIP 50115 appears to be a stable market. The relatively high FMR compared to the market rent indicates a supportive environment for landlords who choose to accept Section 8 vouchers. The low percentage of renters suggests a strong preference for homeownership in the area, but those who do rent could find some relief through the Section 8 program, which aims to provide affordable housing options. This stability is further reinforced by the median income and home values, which indicate a balanced economy where most residents can afford their living costs without significant financial strain.
In summary, Guthrie Center, IA, offers a stable environment for landlords and small-portfolio investors, especially those considering participation in the Section 8 voucher program. The higher FMR provides a financial advantage over market rates, making it a potentially attractive option for property owners looking to secure reliable tenants and consistent rental income.
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.