Location: Webster County, IA | Metro: Humboldt County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
U.S. Census Bureau data (2024)
The ZIP code 50524 presents a dynamic rental market, with the Fair Market Rent (FMR) set at $940 for the fiscal year 2026, according to the latest data from the metropolitan area. In contrast, the actual market rent, based on the Census American Community Survey (ACS), stands at $656. This discrepancy suggests that while the government benchmark is higher, landlords might be adjusting their rents to align with what the market can bear.
The median home value in the area is $238,621, indicating a moderate cost of homeownership. However, the lack of data on the percentage of price cuts and days on market (DOM) means we cannot definitively say whether supply is outpacing demand or vice versa. Yet, the lower market rent compared to the FMR could imply that there's enough supply to keep rental prices below the government's fair market assessment.
The 7.1% renter share is noteworthy. It reflects a relatively low proportion of renters in the ZIP code, suggesting that homeownership is prevalent. This could indicate less immediate pressure on rental markets, but it also implies that any shift towards renting—whether due to economic changes, population growth, or other factors—could quickly increase housing pressure on the limited rental stock. Landlords and small-portfolio investors should monitor trends closely, as even slight shifts in the balance between renters and owners can have significant impacts on the local housing market.
The rental market in ZIP 50524 is characterized by a blend of stability and potential for change. The gap between FMR and market rent signals a need for landlords to be strategic in pricing to remain competitive. With a majority of residents owning homes, the rental sector remains a niche but potentially lucrative market, especially if there's an uptick in demand for rentals. Understanding these dynamics is crucial for navigating the ZIP code's housing landscape effectively.
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.