Section 8 Fair Market Rent (FMR) for ZIP 50147 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

The ZIP code 50147, located in central Iowa, is characterized by a modest suburban landscape with a mix of residential and light commercial properties. This area is particularly interesting for real estate investors due to its manageable size and the presence of the Housing Choice Voucher Program, which can influence rental markets.

• The Fair Market Rent (FMR) for ZIP 50147 in the fiscal year 2026 is set at $920. This figure represents the maximum amount that landlords can charge tenants participating in the Housing Choice Voucher Program, effectively setting a benchmark for subsidized rents.
• The average market rent for properties in ZIP 50147, according to the latest Census American Community Survey (ACS), stands at $519. This indicates that the unsubsidized rental market is significantly below the FMR, suggesting a potential opportunity for landlords who can offer quality housing at competitive rates.
• The median home value in ZIP 50147 is $134,823. This relatively low value can be attractive for investors looking to purchase homes at a lower cost, especially when considering the possibility of renting them out under the Housing Choice Voucher Program.
• Renters make up 14.1% of the population in this ZIP code. While this percentage is not exceptionally high, it does indicate a stable demand for rental properties, which can be bolstered by the presence of voucher holders seeking affordable housing options.
• The median household income in ZIP 50147 is $38,281. This figure suggests that many residents may qualify for assistance programs such as Section 8, increasing the likelihood of finding tenants who can reliably pay their rent through government subsidies.
• Due to the lack of specific data on days on market (DOM), it's challenging to assess how quickly properties sell. However, the combination of low home values and a supportive rental environment may imply a brisk market for real estate transactions.

Investors should recognize that ZIP 50147 offers a balanced opportunity where the Fair Market Rent is notably higher than the current market rent, indicating a potential for profit by aligning with the Housing Choice Voucher Program. The low median home value also presents an entry point for purchasing properties, while the median income supports the feasibility of tenants qualifying for rental assistance. Despite the absence of precise DOM data, the overall conditions suggest a viable investment scenario with room for growth in both ownership and rental markets.

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.