Location: Tama County, IA | Metro: Tama County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
U.S. Census Bureau data (2024)
The median income in ZIP code 50652 stands at $65,000, placing it in a moderate economic bracket. The market rate for rent, according to the Census ACS, is $1,000 per month. This represents a significant portion of a household's income, roughly 12% monthly or 144% annually. Given this high percentage, many renters might find it challenging to meet market rates without financial assistance.
In contrast, the Fair Market Rent (FMR) standard set for voucher payments in the metro area for fiscal year 2026 is $920 per month. This means that a household receiving a Section 8 voucher would pay approximately 70% of the market rate, making rental housing more accessible to those who qualify for assistance.
ZIP 50652 has a relatively low renter population at 113 individuals, with only 13.8% of residents being renters. This suggests limited competition among landlords for tenants paying market rates. However, the affordability gap between the median income and the market rent rate highlights the importance of considering tenants with vouchers.
The takeaway for landlords is clear: accepting Section 8 vouchers can be a strategic move. While voucher payments are slightly below market rates at $920 compared to $1,000, the reduced vacancy risk and guaranteed rent can offset the lower rate. Landlords should weigh the benefits of steady, government-backed rental income against the potential for higher cash rents from fewer, more financially stable tenants.
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.