Section 8 Fair Market Rent (FMR) for ZIP 50532 - 2027

Location: Wright County, IA | Metro: Hamilton County, IA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$670
1 Bedroom	$720
2 Bedrooms	$930
3 Bedrooms	$1,190
4 Bedrooms	$1,540
5 Bedrooms	$1,786
6 Bedrooms	$2,000
7 Bedrooms	$2,160
8 Bedrooms	$2,268

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

804

Median Household Income

$65,000

Housing Units

385

Renter Percentage

26.0%

Occupancy Rate

93.0%

Renter Occupied

Housing Authorities Serving ZIP 50532

Fort Dodge Municipal Housing Agency (Fort Dodge, IA) - 1,072 Section 8 vouchers

The ZIP code 50532, located in central Iowa, is characterized by its rural setting and agricultural influence. This area offers a unique blend of affordability and community living, attracting both homeowners and renters seeking a quieter lifestyle away from urban centers.

The Fair Market Rent (FMR) for ZIP 50532 is set at $920 for the fiscal year 2026, reflecting the government's assessment of rental market conditions in the area.
The average market rent, as per the Census Bureau's American Community Survey, stands at $673, indicating that the actual rents charged are below the FMR, which could present opportunities for landlords looking to adjust their pricing strategies.
The median home value in ZIP 50532 is $188,517, making it an attractive option for first-time buyers and investors interested in property with growth potential.
Renters make up 26.0% of the housing market, suggesting a significant portion of the population relies on rental properties, thus providing a steady demand for landlords.
The median income in the area is $65,000, which is indicative of the financial stability of the local residents and their ability to afford reasonable rent increases without compromising occupancy rates.

For landlords and small-portfolio investors, ZIP 50532 presents a balanced market with room for strategic adjustments. The discrepancy between the FMR and the actual market rent suggests potential for increasing rental income, while the median home value indicates a relatively low barrier to entry for property investment. With a quarter of the households renting, there is a consistent demand for rental units, and the median income supports the feasibility of modest rent hikes. These factors collectively contribute to a stable and potentially lucrative investment environment for those willing to engage in the local rental market.

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.