Location: Marion 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 | $760 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,290 | $362,965 | 0.36% | F |
U.S. Census Bureau data (2024)
The ZIP code 50214 is situated in a suburban area of Des Moines, Iowa, characterized by a relatively small population of 719 residents. With only 5.7% of the population being renters, this neighborhood primarily consists of homeowners, making it a less dense residential setting. The median home value in this area is notably high at $350,545, indicating a community where property ownership is significant and often a substantial investment.
Turning to the economic landscape of rental properties in ZIP 50214, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $860. However, the lack of data on market rent suggests a limited presence of rental units, which aligns with the low percentage of renters in the area. This gap between the known FMR and the unavailable market rent data implies that rental properties in this ZIP code might be underrepresented or that the rental market is not robust enough to generate comprehensive data.
Given these conditions, ZIP 50214 is more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The high median home value and the predominance of homeowners suggest a stable but potentially stagnant rental market. For an investor looking to manage a portfolio with minimal intervention, the existing Section 8 voucher program provides a predictable stream of income through the fixed FMR rate. On the other hand, the scarcity of rental units and the absence of detailed market rent figures make it challenging for a value-add buyer to identify opportunities for enhancing property value or increasing rental yields beyond the subsidized rates.
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.