Section 8 Fair Market Rent (FMR) for ZIP 50144 - 2027

Location: Decatur County, IA | Metro: Decatur County, IA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$650
1 Bedroom	$710
2 Bedrooms	$930
3 Bedrooms	$1,100
4 Bedrooms	$1,530
5 Bedrooms	$1,775
6 Bedrooms	$1,988
7 Bedrooms	$2,147
8 Bedrooms	$2,254

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,692

Median Household Income

$63,333

Housing Units

1,323

Renter Percentage

36.6%

Occupancy Rate

82.5%

Renter Occupied

400

ZIP code 50144, located within Decatur County, IA, presents a unique profile compared to other ZIP codes in the county. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920, which is higher than the market rent of $577 observed in ZIP 50144. This indicates that 50144 is likely a value pocket within the broader metro area.

The median home value in ZIP 50144 stands at $136,065, which is below the typical home values found in Decatur County, IA. This lower home value suggests that 50144 is an affordable option for both tenants and landlords alike. However, it's important to note that while the home value is lower, the renter share is relatively high at 36.6%. This combination of a significant renter population and below-average home values can be indicative of a Section 8 sweet spot, where there is a strong demand for rental properties eligible for government subsidies.

To further contextualize, let’s consider the following:

FMR vs. Market Rent: The gap between the $920 FMR and the $577 market rent implies that landlords in ZIP 50144 could potentially benefit from a lower cost basis, allowing them to charge rents closer to the FMR and still attract tenants.
Renter Share: With a 36.6% renter share, there is a substantial portion of the population seeking rental housing. This high percentage can be particularly advantageous for landlords who manage Section 8 properties, as it suggests a ready pool of potential tenants.
Home Value: The median home value of $136,065 is indicative of an affordable market, making it attractive for first-time homebuyers or those looking to invest in a lower-cost property.

In summary, ZIP 50144 appears to be a value pocket within the Decatur County, IA metro, offering below-metro average home values and market rents. Its high renter share makes it an ideal location for landlords interested in managing Section 8 properties, given the strong demand for subsidized rentals.

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.