Section 8 Fair Market Rent (FMR) for ZIP 50250 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$810
1 Bedroom	$840
2 Bedrooms	$1,040
3 Bedrooms	$1,390
4 Bedrooms	$1,470
5 Bedrooms	$1,705
6 Bedrooms	$1,910
7 Bedrooms	$2,063
8 Bedrooms	$2,166

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,832

Median Household Income

$71,083

Housing Units

1,266

Renter Percentage

20.4%

Occupancy Rate

93.8%

Renter Occupied

242

The ZIP code 50250, located in Stuart, IA within the Adair County metro, presents a unique profile when compared to other ZIP codes in the county. With a Fair Market Rent (FMR) of $970 for fiscal year 2024, it exceeds the market rent of $678, indicating that subsidized renters may find it affordable despite the higher official rent estimates.

The median home value in ZIP 50250 stands at $221,116. This figure is indicative of a mid-tier neighborhood within the Adair County metro, suggesting that homeownership remains within reach for many residents but also that property values are not at the lower end of the spectrum.

A noteworthy aspect of ZIP 50250 is its 20.4% renter share, which is above the average for Adair County. This higher proportion of renters, combined with the below-FMR market rent, points to a potential value pocket for landlords and small-portfolio investors. The discrepancy between the FMR and the actual market rent suggests that there could be opportunities to attract Section 8 tenants without setting rents excessively high relative to the local market.

To further contextualize these findings, let's examine the specific figures:

Fair Market Rent (FMR): $970 - This is the amount set by HUD for determining payment standards for Section 8 vouchers.
Market Rent: $678 - This reflects the actual rental prices in the area, which are lower than the FMR, potentially making it an attractive location for subsidized housing.
Median Home Value: $221,116 - This places the ZIP in a moderate range, neither the most expensive nor the least costly within the metro.
Renter Share: 20.4% - This percentage indicates a significant portion of the population rents their homes, which can be beneficial for landlords seeking steady demand.

The combination of a relatively low market rent and a substantial renter share makes ZIP 50250 a particularly appealing area for those interested in Section 8 properties. It is likely a sweet spot where landlords can benefit from a stable tenant base while still maintaining competitive rental rates.

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.