Location: Butler County, IA | Metro: Butler County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
The ZIP code 50611 presents an interesting scenario for both renters and landlords. The median household income here stands at $84,250, which provides a solid financial foundation for many residents. However, when compared to the market rate rental cost of $358 (as per Census ACS data), it becomes evident that there is a significant affordability gap.
Renters in this area can reasonably expect to pay around $358 per month for housing, but the Federal Market Rent (FMR) standard for voucher payments in the metro area for fiscal year 2026 is set at $960. This means that renters with vouchers have access to higher-quality or larger living spaces than those paying the market rate.
The ZIP code has a relatively low percentage of renters at 8.1%, indicating that the majority of the population prefers homeownership. With only 364 people residing in the area, the competition among landlords is likely to be fierce, especially considering the limited number of potential tenants.
For landlords, the decision between accepting vouchers versus relying on cash-paying tenants should be carefully considered. Accepting vouchers could provide a steady stream of rental income, given that the voucher payment is significantly higher than the market rate. However, landlords must also factor in the administrative complexities associated with managing voucher properties.
The takeaway for landlords is that while the market rate rental income is lower than the voucher payment, the smaller tenant pool makes it crucial to diversify their strategy. Landlords who accept vouchers may find themselves with fewer competitors and a more stable tenant base, despite the higher initial setup costs and ongoing management requirements.
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.