Location: Decatur County, IA | Metro: Decatur County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,140 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
The rental market in ZIP code 50262 presents a dynamic environment that is indicative of evolving housing pressures. With a Fair Market Rent (FMR) set at $950 for the fiscal year 2026, the government's benchmark suggests an upward trajectory in rental costs. However, the current market rent, as per the Census American Community Survey (ACS), stands at $775. This discrepancy between the FMR and the actual market rent could imply that there is room for growth in rental prices, but it also reflects the reality that landlords may need to adjust their expectations to match the current economic conditions.
The median home value in this area is $169,823, which is relatively low compared to many other regions. This figure can be interpreted as an indication of affordability, potentially attracting first-time homebuyers or those looking for more economical housing options. However, the absence of data on the percentage of price cuts and days on market (DOM) makes it challenging to definitively state whether supply is outpacing demand or vice versa. Nonetheless, the low median home value might suggest a market where demand is steady but constrained by financial limitations, rather than one where supply is overwhelming.
A significant insight into the long-term housing pressure comes from the 9.0% renter share. This statistic points to a market where a small but notable portion of the population prefers or needs to rent. A lower renter share can indicate several things: either the area is predominantly owner-occupied, or there is a strong inclination towards homeownership due to factors such as mortgage rates, availability of affordable homes, or cultural preferences. In ZIP 50262, the low renter share suggests that while there is a segment of the population facing housing challenges, it is not a primary driver of the market. The stability in rental demand, coupled with the relatively low median home values, indicates a balanced market where both renters and buyers find opportunities, albeit limited by the overall economic context.
In summary, ZIP 50262 operates under the influence of various forces that keep the housing market in a state of flux. The interplay between the projected FMR and the actual market rent, along with the median home value and renter share, paints a picture of a market where affordability remains a key factor, and rental prices are poised for gradual increases. Landlords and small-portfolio investors should monitor these trends closely to make informed decisions.
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.