Location: Adair County, IA | Metro: Des Moines-West Des Moines, 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 | $740 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,250 |
| 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,250 | $223,719 | 0.56% | F |
U.S. Census Bureau data (2024)
6.5% of the population in ZIP 50164 are renters, indicating a modest demand for rental properties. However, the Fair Market Rent (FMR) for the area stands at $970, which is the maximum amount that landlords can charge for Section 8 vouchers in fiscal year 2024. This figure is crucial for landlords considering participation in the Section 8 program, as it sets the upper limit for rent charges.
$217,470 is the median home value in the region, providing a benchmark for property values. Despite this, the median income of $80,188 suggests that many residents may struggle to afford market-rate rents, making subsidized housing options like Section 8 attractive.
While the Days on Market (DOM) and the percentage of price-cut shares are not available, these metrics would typically help gauge the local real estate market's health and competition levels. The absence of such data does not necessarily indicate a problem but highlights the importance of staying informed about the local market trends.
Landlords in ZIP 50164 can secure a steady stream of income by setting their rents at the FMR level of $970, ensuring compliance with the program while also providing affordable housing to those who need it most. Given the median income of $80,188, the FMR is likely to be within reach for many tenants, thus reducing the risk of vacancy.
The verdict for Section 8 participation in ZIP 50164 is positive, with a manageable renter share of 6.5% and an FMR of $970 that aligns well with the local economic conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.