Location: Decatur County, IA | Metro: Clarke County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,390 |
| 5 Bedrooms | $1,612 |
| 6 Bedrooms | $1,805 |
| 7 Bedrooms | $1,949 |
| 8 Bedrooms | $2,046 |
U.S. Census Bureau data (2024)
The market in ZIP code 50264 presents a dynamic environment for real estate investors, particularly those interested in rental properties. With a Fair Market Rent (FMR) of $950 for the fiscal year 2026, it's evident that the rental sector is a significant part of the local economy. The FMR, which is set by the U.S. Department of Housing and Urban Development (HUD), reflects the average rent paid by tenants in the area. This figure is crucial for landlords and investors as it provides a benchmark for setting competitive rental prices.
The median home value in 50264 stands at $224,225. While this doesn't directly indicate whether supply outpaces demand or vice versa, it does suggest that homeownership is accessible to a broad range of income levels, potentially limiting the number of renters. However, the 21.9% renter share indicates that a substantial portion of the population still relies on rental housing. This statistic points towards ongoing housing pressure, as a significant number of residents cannot afford to buy homes, thus creating a steady demand for rentals.
Although the specific market rent and the percentage of price-cut share are not available, the presence of an FMR without corresponding market rent data might imply that the rental market is relatively stable, closely following the government-set guidelines. The days on market (DOM) being N/A could suggest that listings move quickly, indicating strong demand. Alternatively, it could mean that there is a lack of comprehensive data on the rental market turnover, which is common in smaller markets.
In conclusion, ZIP 50264 appears to be a market where demand for rental properties is driven by a significant portion of the population who cannot afford to purchase homes. The median home value suggests that homeownership is possible for many, but the 21.9% renter share implies that a considerable segment of the community will continue to seek rental accommodations. This balance between homeownership and rental demand creates a resilient market for landlords and small-portfolio investors, especially those focusing on rental properties.
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.