Location: Buchanan County, IA | Metro: Buchanan County, IA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $142,500 | 0.65% | D |
| 3BR | $1,280 | $174,303 | 0.73% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 50641, Hazleton, IA, is set at $920 for the fiscal year 2026. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, meaning that if you participate in this program, the government will pay up to $920 per month for a rental unit. However, it's important to note that this is not necessarily the amount you'll receive as rent from your tenant; rather, it's the maximum reimbursement rate.
To put this into perspective, the average rent for properties in Hazleton, IA, according to the Census American Community Survey, is $681. This suggests that the Section 8 payment standard is higher than the local average rent, which can be beneficial for landlords who want to ensure they receive a fair market rate for their property.
The 11.1% renter share indicates that there is a significant portion of the population in Hazleton, IA, who are likely to be interested in renting properties. This means there is a reasonable demand for rental units, including those participating in the Section 8 program. The median household income in the area is around $182,433, which is a key figure when considering the acquisition cost of a property and its potential profitability as a rental investment.
If you're considering your first Section 8 rental in this ZIP code, it's crucial to verify that the property meets all the necessary requirements for participation in the program. This includes ensuring that the property is safe, decent, and sanitary, as well as confirming that it complies with local housing codes and regulations. Once these criteria are met, you can confidently proceed with listing your property under the Section 8 program, knowing that you'll receive a guaranteed monthly rental payment up to $920, which is above the local average rent of $681.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.