Location: Palo Alto County, IA | Metro: Palo Alto County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
U.S. Census Bureau data (2024)
ZIP code 50528, located within the Palo Alto County, IA metro area, presents a unique profile when compared to other ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 50528 is set at $920 for fiscal year 2026, which serves as a benchmark for affordable housing standards. However, the lack of reported market rent data for this ZIP suggests that it may be less densely populated or have fewer rental properties than other areas within the metro.
The median home value in ZIP 50528 is $212,996, indicating that it is moderately priced within the context of the metro area. This figure is likely reflective of the overall economic conditions and housing market trends prevalent in Palo Alto County. With a renter share of 21.6%, ZIP 50528 has a slightly higher proportion of renters compared to the national average, but this percentage alone does not conclusively indicate whether it is a value pocket, mid-tier neighborhood, or a premium sub-market.
To determine the classification of ZIP 50528, we must consider the interplay between its FMR, median home value, and renter share. Given the FMR of $920, which is typically lower than market rents, and the median home value being relatively moderate, it can be inferred that ZIP 50528 might serve as a value pocket for low-income renters, particularly those eligible for Section 8 assistance. The higher-than-average renter share supports this inference, as it often indicates a concentration of rental units that cater to various income levels, including those supported by government subsidies.
In summary, ZIP 50528 appears to be a value pocket within the Palo Alto County, IA metro, offering affordable rental options with a median home value that is neither excessively high nor low. Its characteristics align well with the needs of low-income households seeking subsidized housing through programs like Section 8.
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.