Location: Worth County, IA | Metro: Worth County, IA
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 | $690 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,280 | $190,665 | 0.67% | D |
U.S. Census Bureau data (2024)
The ZIP code 50448, with a population of 620, is primarily characterized by a modest rental presence. Only 10.6% of the residents are renters, indicating that this area is predominantly homeowner-dominated rather than a renter-heavy zone. This means that the demand for Section 8 housing vouchers is likely to be less intense compared to areas with higher percentages of renters.
The median household income in this ZIP code stands at $62,059. Considering a market rent of $650, we can calculate that typical rent consumes approximately 10.5% of the local median income. This percentage is relatively low, suggesting that the cost of renting is manageable for most residents.
However, when comparing the market rent to the Fair Market Rent (FMR) set at $970 for FY 2026, it's evident that the actual rents in ZIP 50448 are below the FMR threshold. This could imply that there might be some underutilization of the voucher program, as the vouchers could cover more than the current market rent, potentially making them attractive to both tenants and landlords.
A landlord in ZIP 50448 should expect a tenant profile that includes individuals and families who benefit from Section 8 vouchers. These tenants will likely have their rent subsidized to an extent that makes up for the gap between the market rent and the FMR. It's important for landlords to understand that while the overall demand for rental properties may not be high, those who do rent may have a significant portion of their rent covered by government assistance, making the properties more accessible to lower-income families.
In summary, ZIP 50448 offers a unique opportunity for landlords who are willing to accept Section 8 vouchers. Although the area has a strong homeowner base, the relatively low market rent compared to the FMR suggests that voucher holders could find it easier to afford living here, which benefits both tenants and landlords. The percentage of income spent on rent is also favorable, making the financial burden on tenants lighter than in areas with higher rents relative to income.
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.