Location: Wayne County, IA | Metro: Wayne County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The ZIP code 50165, located within the Wayne County, IA metro area, presents an interesting case study for real estate analysis. The Fair Market Rent (FMR) for this ZIP is set at $970 for fiscal year 2026. This figure serves as a critical benchmark for understanding the rental market dynamics within the Wayne County context.
Comparatively, without specific data on market rents and home values for other ZIP codes in Wayne County, we can still draw some conclusions based on the given information. The FMR of $970 for ZIP 50165 is a government-determined amount that represents the maximum allowable rent for low-income households under the Section 8 program. However, the lack of market rent and home value data for ZIP 50165 makes it difficult to assess its exact position relative to other areas within Wayne County.
The most striking detail in the dataset is the 0.0% renter share. This indicates that there are no reported renters in ZIP 50165, which could suggest a predominantly owner-occupied community. In the context of Wayne County, where such data is typically available, this anomaly points towards a unique situation in ZIP 50165. It might imply that the area has very few rental properties or that the reporting mechanism did not capture any rental activity.
A ZIP code with no reported renters and an FMR of $970 would generally not be considered a sweet spot for Section 8 investors, as the primary criterion for identifying such spots is a significant disparity between market rents and FMRs, alongside a substantial renter population. Since ZIP 50165 lacks both a significant renter share and market rent data, it cannot be conclusively classified as a value pocket, mid-tier neighborhood, or a premium sub-market within the Wayne County metro area based solely on the given figures.
Landlords and small-portfolio investors should consider these specifics when evaluating ZIP 50165. The absence of rental data suggests that this area might not be as attractive for those specifically targeting Section 8 tenants. Instead, it may be more suitable for those interested in owner-occupied properties or other forms of investment that do not rely heavily on rental income.
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.