Location: Franklin County, IA | Metro: Franklin County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
0.0% of renters in ZIP code 50427 currently rely on rental housing, indicating a very low demand for subsidized housing options. This statistic aligns with the area's median income of $73,091, which suggests that most residents can afford market-rate housing without assistance. However, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920, a figure that represents the maximum amount a landlord can charge for a Section 8 voucher holder. Despite the low percentage of renters, the FMR provides a stable baseline for landlords participating in the program.
N/A market rent data implies that there isn't enough information to determine the typical rental rates in the area, possibly due to limited listings or reporting. Similarly, the lack of median home value data means that while we know the median income, we cannot directly compare it to typical home prices, which would be useful for assessing overall affordability in the region.
The absence of days on market (DOM) and price-cut share data further complicates the analysis of the local real estate market dynamics. These missing metrics could provide insights into how quickly properties are being leased and if landlords are frequently having to reduce their asking prices to attract tenants, both of which are critical considerations for small-portfolio investors.
In conclusion, while the median income of $73,091 and the low renter share of 0.0% suggest a generally healthy economic situation where residents can afford market-rate housing, the Fair Market Rent of $920 offers a consistent rate for those interested in the Section 8 program. The lack of detailed market data makes it challenging to fully evaluate the potential returns and risks associated with investing in this ZIP code through the Section 8 program. Verdict: Proceed with caution, relying heavily on the FMR stability but aware of the data gaps.
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.