Location: Floyd County, IA | Metro: Floyd County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,140 |
| 4 Bedrooms | $1,360 |
| 5 Bedrooms | $1,578 |
| 6 Bedrooms | $1,767 |
| 7 Bedrooms | $1,908 |
| 8 Bedrooms | $2,003 |
U.S. Census Bureau data (2024)
The ZIP code 50620, located in a sparsely populated area, stands out due to its unique characteristics. With only 36 residents, it has the lowest population among the ZIP codes analyzed. Only 10.0% of these residents rent their homes, indicating a predominantly owner-occupied community. However, the lack of data on median income and median home value suggests that this ZIP code might have limited economic activity or a small enough sample size to make such metrics unreliable.
Moving to the specifics of Section 8 housing vouchers, the Fair Market Rent (FMR) for the metro area covering fiscal year 2026 is set at $920. This figure is critical for landlords and small-portfolio investors considering participation in the Section 8 program. Despite the absence of market rent data for ZIP 50620, the FMR provides a benchmark for rental rates that can be expected under the program. Landlords should note that the FMR does not necessarily reflect the actual market conditions but rather the maximum payment standard set by HUD for the metropolitan area.
The data signature for ZIP 50620 reads as "stable." The low percentage of renters and the small number of residents suggest a community that is unlikely to experience rapid changes in demand for rental properties. For investors, this stability means that the risk associated with fluctuations in the rental market is minimal. However, the limited number of potential tenants also implies that opportunities for rental income will be constrained. Investors should carefully consider the implications of these factors before making investment decisions in this ZIP code.
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.