Section 8 Fair Market Rent (FMR) for ZIP 50174 - 2027

Location: Union County, IA | Metro: Des Moines-West Des Moines, IA HUD Metro FMR Area

Investment Score for ZIP 50174

Monthly Rent (2BR)

$950

Median Price (2BR)

$111,853

1% Rule

0.85%

Annual Yield

10.19%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$660
1 Bedroom	$780
2 Bedrooms	$950
3 Bedrooms	$1,280
4 Bedrooms	$1,280
5 Bedrooms	$1,485
6 Bedrooms	$1,663
7 Bedrooms	$1,796
8 Bedrooms	$1,886

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$950	$111,853	0.85%	C
3BR	$1,280	$202,847	0.63%	D
4BR	$1,280	$222,925	0.57%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,259

Median Household Income

$67,250

Housing Units

428

Renter Percentage

12.5%

Occupancy Rate

91.8%

Renter Occupied

The town of Murray, Iowa, located in ZIP code 50174, is a small, rural community with a stable housing market. The area offers a mix of single-family homes and rental properties, catering to both long-term residents and newcomers. With a median household income of $67,250, Murray provides a comfortable living environment for its residents.

The Fair Market Rent (FMR) for a two-bedroom apartment in Murray, Iowa, for fiscal year 2024 is set at $980, according to HUD's published figures.
The average market rent for a typical rental unit in Murray, as reported by the Census Bureau's American Community Survey (ACS), stands at $850.
The median home value in Murray is $165,424, reflecting the overall affordability of the housing market in the area.
Renters make up 12.5% of the population, indicating that while the majority own their homes, there remains a consistent demand for rental properties.
The median income in Murray is $67,250, providing insight into the financial stability of its residents and their ability to afford housing costs.

The data points highlight a modest but steady rental market in Murray, Iowa. Investors can expect fair returns on investment given the FMR and market rent levels, which are relatively close. The low median home value suggests that the area is accessible for those looking to purchase properties, while the median income indicates that residents have the means to support rental prices. However, the relatively low renter share might imply limited growth potential for rental investments compared to areas with higher concentrations of renters. Overall, Murray presents a conservative investment opportunity for those interested in a stable, rural market.

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.