Section 8 Fair Market Rent (FMR) for ZIP 50447 - 2027

Location: Wright County, IA | Metro: Hancock County, IA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$690
1 Bedroom	$740
2 Bedrooms	$930
3 Bedrooms	$1,120
4 Bedrooms	$1,500
5 Bedrooms	$1,740
6 Bedrooms	$1,949
7 Bedrooms	$2,105
8 Bedrooms	$2,210

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,145

Median Household Income

$76,019

Housing Units

623

Renter Percentage

20.0%

Occupancy Rate

80.3%

Renter Occupied

100

The zip code 50447, encompassing Kanawha, IA, presents a unique opportunity for real estate investors looking to enter a stable, mid-sized market. This area is characterized by modest housing values and a growing rental sector, making it attractive for both landlords and small-portfolio investors.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $920, indicating a favorable environment for rental properties.
The average market rent for the area, according to the Census ACS, stands at $584, suggesting that there is room for rental rates to rise closer to the FMR.
The median home value in Kanawha, IA is $137,174, which is relatively low compared to larger metropolitan areas, allowing for cost-effective property purchases.
Renters make up 20.0% of the local housing market, pointing to a steady demand for rental units.
The median household income in the area is $76,019, providing assurance that tenants can afford higher rents without straining their budgets.

In summary, Kanawha, IA offers a promising investment landscape with a growing rental market and affordable property acquisition costs. The gap between the current market rent and the FMR presents an opportunity for increasing rental income, while the median income level supports this potential growth. With a significant portion of the population renting, there is a consistent demand for rental properties, making it an attractive option for investors seeking stability and returns.

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.