Section 8 Fair Market Rent (FMR) for ZIP 50464 - 2027

Location: Worth County, IA | Metro: Cerro Gordo County, IA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$780
1 Bedroom	$790
2 Bedrooms	$1,000
3 Bedrooms	$1,310
4 Bedrooms	$1,520
5 Bedrooms	$1,763
6 Bedrooms	$1,975
7 Bedrooms	$2,133
8 Bedrooms	$2,240

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

694

Median Household Income

$91,750

Housing Units

312

Renter Percentage

15.5%

Occupancy Rate

88.8%

Renter Occupied

The ZIP code 50464, located in the heart of central Iowa, is characterized by its modest-sized homes and suburban setting. This area is particularly attractive to first-time homebuyers and families due to its affordable housing market and proximity to urban amenities.

Fair Market Rent (FMR): The FMR for ZIP 50464 stands at $1,110 for the fiscal year 2026, reflecting the average rental rate that is considered fair by the U.S. Department of Housing and Urban Development (HUD).
Market Rent: According to Census ACS data, the actual market rent in the area is $831, indicating that there is potential for rental price increases to align with HUD's FMR.
Median Home Value: The median home value in ZIP 50464 is $189,064, which is relatively low compared to other regions in the state, making it an appealing investment for those looking to enter the real estate market with lower capital requirements.
Renter Share: Renter share of the population is 15.5%, suggesting a moderate demand for rental properties and a balanced mix of homeowners and renters.
Days on Market (DOM): The data does not provide a specific figure for days on market, which could indicate either a robust sales pace or a lack of recent transaction data to accurately assess the speed of property sales.
Median Income: With a median income of $91,750, residents have a solid financial foundation that supports both rental affordability and the potential for property appreciation over time.

Investors in ZIP 50464 can expect a stable market with opportunities for growth, especially in rental properties. The gap between the current market rent and the HUD's FMR suggests a potential for increasing rental rates. Additionally, the moderate renter share indicates a steady demand for rental units without overwhelming competition. The median home value provides a good entry point for investment, while the strong median income supports long-term financial stability and property value appreciation. Overall, ZIP 50464 offers a promising environment for real estate investments, particularly for those interested in rental properties.

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.