Location: Cerro Gordo County, IA | Metro: Cerro Gordo County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
ZIP code 50428, located in Clear Lake, IA, within Cerro Gordo County, stands out due to its unique demographic and economic profile. With a total population of 9,071, it has a rental rate of 23.4%, which is slightly below the national average. The median household income here is $81,037, reflecting a middle-class community. The median home value is notably high at $321,951, indicating a stable housing market.
The economics of Section 8 vouchers in this area are favorable for landlords. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920, whereas the current market rent, according to the Census American Community Survey (ACS), is $817. This means that landlords accepting Section 8 vouchers can expect to receive a higher monthly rent compared to the market rate, making it an attractive option for property owners looking to maximize their income.
The data signature for ZIP 50428 suggests a relatively stable environment. The modest rental rate combined with a healthy median income and high median home values indicates a community that is financially secure and not prone to significant transitions. Landlords and small-portfolio investors should find this ZIP code appealing for its balance between affordability and financial stability, particularly when considering the benefits of Section 8 tenancy.
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.