Location: Marshall County, IA | Metro: Waterloo-Cedar Falls, IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
ZIP code 50148, located within the Marshall County, IA metro area, presents a unique profile compared to typical ZIP codes in the region. The Fair Market Rent (FMR) for ZIP 50148 is set at $860 for fiscal year 2024, which is notably lower than the market rent of $1,031. This indicates that while government subsidies aim to cover a portion of rental costs, there is still a gap between subsidized rates and what the market demands.
The median home value in ZIP 50148 stands at $183,180, which suggests that it falls into the mid-tier category relative to other ZIP codes in Marshall County. This figure aligns with the general affordability of housing in the county but also implies that property values are not exceptionally low or high.
A key point of interest is the 13.4% renter share. This percentage is higher than the national average and can be indicative of an area where rental properties are more common. Given the disparity between the FMR and market rent, combined with a relatively high renter share, ZIP 50148 could represent a sweet spot for landlords who participate in Section 8 programs. These factors suggest that there is a demand for affordable rentals, making such properties valuable for investors seeking stable income.
To further contextualize the position of ZIP 50148 within the Marshall County, IA metro, it's important to note that its characteristics diverge slightly from the typical ZIP code in the area. While the home value is moderate, the higher renter share coupled with the lower FMR points towards a neighborhood that might be particularly attractive for those looking to leverage government assistance programs for rental income.
In summary, ZIP 50148 appears to be a mid-tier neighborhood within the Marshall County, IA metro area. It offers a balance between moderate property values and a significant renter population, making it a potentially lucrative investment opportunity for landlords involved in Section 8 programs.
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.