Location: Kossuth County, IA | Metro: Kossuth County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,100 |
| 4 Bedrooms | $1,220 |
| 5 Bedrooms | $1,415 |
| 6 Bedrooms | $1,585 |
| 7 Bedrooms | $1,712 |
| 8 Bedrooms | $1,798 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 50559 are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $920. This means that the maximum amount a landlord can charge for rent, when combined with the tenant's portion and utility allowances, cannot exceed this figure. Local market rents, according to Census ACS data, run significantly lower at $550 for a comparable two-bedroom unit.
A Section 8 voucher works by covering the difference between what a tenant can afford and the actual cost of rent. The tenant is responsible for paying 30% of their adjusted income towards rent. If a tenant's income is $1,000 per month, they would pay $300 toward the rent. The voucher program then pays the remaining balance up to the SAFMR limit of $920. In ZIP 50559, if the market rent is $550, the voucher program would cover the remaining $470 ($920 - $300 - $550).
Utility allowances vary but are typically around $200 for a two-bedroom unit. This allowance is not paid directly to the tenant but is considered in the overall calculation of what the landlord receives. Therefore, the total reimbursement a landlord might receive includes both the rent and the utility allowance.
In ZIP 50559, given the SAFMR of $920 and a local market rent of $550, the typical reimbursement gap or surplus for a two-bedroom apartment would be a surplus of $370 per month ($920 - $550). This surplus does not include the utility allowance which further benefits the landlord. Landlords should note that while the SAFMR provides a higher ceiling for reimbursement, the actual market conditions dictate the rent they can realistically charge.
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.