Location: Floyd County, IA | Metro: Cerro Gordo County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
U.S. Census Bureau data (2024)
ZIP code 50468, located in Rockford, Iowa, within the Floyd County metro area, presents an attractive opportunity for inclusion in a Section 8 portfolio strategy. This area serves primarily as a cash-flow anchor due to the significant spread between the Fair Market Rent (FMR) set at $1,050 for the metro area in fiscal year 2026 and the current market rent of $791. The difference of $259 per month indicates a strong potential for steady rental income that exceeds the market average.
The median home value in ZIP 50468 stands at $200,470, which is relatively low compared to many other regions across the United States. This makes it easier for landlords to acquire properties at a reasonable cost while still benefiting from higher-than-market rental rates under the Section 8 program. Landlords can leverage this discrepancy to ensure positive cash flow from their investments, making this ZIP code a reliable choice for those seeking stable returns.
Although there isn't specific data on price-cut shares or days on market (DOM), which would be indicative of an appreciation play, the 18.7% renter share suggests that a considerable portion of the population is already accustomed to renting. Coupled with a median income of $73,403, this indicates a viable tenant pool capable of meeting the requirements of the Section 8 program. However, given the primary focus on cash flow, this ZIP code does not stand out as a prime candidate for appreciation plays.
Landlords should consider the demographics and the economic stability of Rockford, Iowa, when deciding to include this ZIP code in their portfolio. With a robust cash-flow potential and a manageable acquisition cost, ZIP 50468 offers a solid foundation for a Section 8 investment strategy, ensuring consistent income without the need for speculative growth bets.
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.