Location: Des Moines-West Des Moines, IA | Metro: Des Moines-West Des Moines, 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 | $1,300 |
| 1 Bedroom | $1,360 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,200 |
| 4 Bedrooms | $2,250 |
| 5 Bedrooms | $2,610 |
| 6 Bedrooms | $2,923 |
| 7 Bedrooms | $3,157 |
| 8 Bedrooms | $3,315 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,610 | $219,471 | 0.73% | D |
| 3BR | $2,200 | $289,301 | 0.76% | D |
| 4BR | $2,250 | $343,034 | 0.66% | D |
U.S. Census Bureau data (2024)
21.3% of Windsor Heights, IA's residents are renters, indicating a moderate demand for rental properties in ZIP 50324. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1180, which is notably lower than the market rent of $1353 as indicated by the Zillow Observed Rent Index (ZORI). This suggests that landlords can potentially attract tenants by pricing their units closer to the FMR without significantly compromising on rental income.
$282,315 represents the median home value in the area, which is relatively stable and provides a good indication of the local real estate market health. Coupled with the median income of $91,707, it's clear that the average household can afford to either buy or rent a property in Windsor Heights, making it an attractive location for both homeowners and landlords.
The absence of specific data regarding days on market (DOM) and the percentage of price-cut shares implies that the housing market in Windsor Heights is not experiencing significant volatility. This stability can be advantageous for landlords and small-portfolio investors who prefer predictable returns and minimal risk.
In terms of Section 8 participation, the gap between the FMR ($1180) and the market rent ($1353) indicates a potential challenge in finding properties that meet the FMR criteria. However, given the moderate renter share and stable home values, there remains a viable opportunity for landlords to participate in the Section 8 program if they can offer competitive rents and maintain property quality.
Ultimately, Windsor Heights presents a balanced market where landlords can achieve steady cash flows through rental income, albeit with some limitations in the Section 8 program due to higher-than-FMR market rents.
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.