Location: Franklin County, IA | Metro: Butler County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $980 |
| 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)
The ZIP code 50433, located within the Franklin County, IA metro area, presents an interesting profile when compared to typical ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 50433 is set at $960 for fiscal year 2026, which is a critical figure for landlords and investors considering the Federal Housing Administration guidelines. This FMR indicates the maximum amount that a low-income family can pay towards housing in order to qualify for assistance under the Section 8 program.
A key point of comparison is the lack of available data on market rent for ZIP 50433. In contrast, typical ZIP codes within Franklin County would have market rent data that helps gauge the actual rental prices in the area. The absence of this information suggests that either the rental market in 50433 is less active, or there's insufficient data to determine an accurate market rent figure. However, the FMR of $960 serves as a benchmark for rental pricing in this area.
The median home value in ZIP 50433 is $221,281. This figure is significant as it provides insight into the overall property values within the ZIP code. If this home value is notably lower than the average home value across Franklin County, it could indicate that 50433 is a value pocket where properties are more affordable. Conversely, if it aligns closely with or exceeds the county average, it suggests a more premium sub-market.
ZIP 50433 has a 0.0% renter share, meaning virtually all residents own their homes rather than renting. This is a stark divergence from areas where a higher percentage of residents might be renters, especially those who rely on Section 8 vouchers. The low renter share implies that the rental market is limited, which could affect the number of potential tenants seeking Section 8 assistance. Landlords and investors should consider this low renter share when evaluating the demand for rental properties in 50433.
In summary, ZIP 50433 appears to be a value pocket within the Franklin County, IA metro area due to its defined FMR of $960 and a median home value of $221,281. The lack of rental activity, as indicated by the 0.0% renter share, contrasts sharply with areas that typically have a higher reliance on rental properties and Section 8 assistance. This unique characteristic makes it less likely to be a sweet spot for Section 8 investors looking for neighborhoods with a high renter share, but it remains an important consideration for those focused on the broader real estate landscape.
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.