Location: Marion County, IA | Metro: Mahaska County, IA
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 | $830 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,190 | $259,144 | 0.46% | F |
| 3BR | $1,420 | $339,712 | 0.42% | F |
| 4BR | $1,600 | $425,289 | 0.38% | F |
| 5BR | $1,856 | $555,705 | 0.33% | F |
U.S. Census Bureau data (2024)
ZIP code 50219, located in Pella, Iowa, stands out within Marion County due to its unique demographic and economic profile. With a total population of 14,416, 30.6% of residents are renters, indicating a significant portion of the community that relies on rental housing. The median household income in this area is $86,807, which is notably higher than the national average, suggesting a relatively affluent local economy. Furthermore, the median home value is $351,566, reflecting the stability and desirability of homeownership in Pella.
Moving into the specifics of Section 8 housing, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,170. This figure is slightly above the market rent, measured by ZORI (Zillow Observed Rent Index), which is $1,068. Landlords and small-portfolio investors should note that the higher FMR rate can provide a financial cushion, ensuring that rental properties remain profitable even when occupied by tenants receiving housing vouchers. This discrepancy between FMR and market rates can also attract more applicants, increasing the likelihood of occupancy and reducing vacancy costs.
The data signature for ZIP 50219 reads as stable. The high median income supports a strong local economy, and the relatively low percentage of renters suggests that homeownership is a prevalent choice among residents. This stability is further reinforced by the median home value, indicating a robust property market. For investors considering Section 8 properties in Pella, the area's economic strength and the favorable FMR rates make it an attractive option. However, the slightly higher FMR compared to the market rent might indicate a transitional phase where rental demand could be increasing, potentially benefiting those who invest in rental properties now.
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.