Location: Poweshiek County, IA | Metro: Jasper County, IA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,240 | $319,889 | 0.39% | F |
U.S. Census Bureau data (2024)
18.9% of residents in ZIP 50153 are renters, indicating a moderate demand for rental properties. The Fair Market Rent (FMR) for the area, as of zip FY 2024, is set at $860, which serves as a benchmark for landlords to ensure their rents align with HUD guidelines. Comparatively, the market rent based on Census ACS data stands at $614, suggesting that landlords can potentially charge above the market rate while still being within the FMR limits.
$283,122 is the median home value in ZIP 50153, reflecting the overall property values in the region. This figure can help investors gauge the potential resale value of properties they might acquire. However, the median income of $73,798 suggests that many residents may struggle to afford homeownership, further reinforcing the reliance on rental housing.
N/A-day DOM (Days on Market) and N/A% price-cut share indicate incomplete data regarding the time it takes for homes to sell and the percentage of homes needing price reductions. Despite these gaps, the data points we have provide a solid foundation for investment decisions. With the FMR significantly higher than the market rent, there is an opportunity for landlords to capture a premium without overpricing their units.
In conclusion, the combination of a strong rental market, moderate renter share, and a gap between FMR and market rent makes ZIP 50153 a favorable location for Section 8 investments. The verdict for Section 8 properties in this area is positive, given the alignment of HUD's FMR with potential rental income.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.