Location: Webster County, IA | Metro: Humboldt County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 50591 in metro FY 2026 is set at $1,340. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. It's important to note that this is not the amount tenants will pay; rather, it's the maximum amount the government will reimburse landlords for renting out their units.
In comparison, the average rental price in ZIP 50591, based on recent Census American Community Survey (ACS) data, is $1,075. This means that the FMR is higher than the local average, which can be beneficial for landlords looking to participate in the Section 8 program.
The FMR also helps gauge the demand for rental properties in the area. With a renter share of 10.8%, there is a notable portion of the population seeking affordable housing options. This percentage indicates the proportion of households who rent, showing a consistent demand for rental properties, including those under the Section 8 program.
To put things into perspective, the median household income in ZIP 50591 is around $124,379. This figure suggests that while there might be a significant number of potential tenants, the overall economic profile of the area leans towards higher incomes. However, the Section 8 program specifically targets lower-income individuals and families, ensuring a steady stream of qualified applicants.
Before committing to a Section 8 rental property, it's crucial to verify that your property meets all the required standards. These include safety, health, and habitability criteria set forth by HUD. Ensuring compliance with these standards will help you avoid any potential issues and secure a stable income from the program.
In summary, the FMR of $1,340 provides a solid reimbursement rate for landlords in ZIP 50591, especially when compared to the local average of $1,075. The 10.8% renter share indicates a strong demand for rental properties, making participation in the Section 8 program a viable option. The median household income of $124,379 reflects a broader economic context but does not necessarily impact the pool of Section 8 eligible tenants. Ensure your property meets all HUD standards to proceed confidently.
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.