Section 8 Fair Market Rent (FMR) for ZIP 50653 - 2027

Location: Floyd County, IA | Metro: Floyd County, IA

Investment Score for ZIP 50653

N/A

Monthly Rent (2BR)

$960

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$730
2 Bedrooms	$960
3 Bedrooms	$1,180
4 Bedrooms	$1,410
5 Bedrooms	$1,636
6 Bedrooms	$1,832
7 Bedrooms	$1,979
8 Bedrooms	$2,078

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,180	$185,198	0.64%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

486

Median Household Income

$79,250

Housing Units

241

Renter Percentage

14.9%

Occupancy Rate

83.8%

Renter Occupied

ZIP code 50653, located in Iowa, is a stable residential area with a mix of rental and owner-occupied properties. The region benefits from a moderate cost of living, making it attractive for both tenants and property owners.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $940, providing a benchmark for rental rates that landlords can use to ensure their properties remain competitive.
The actual market rent, according to Census ACS data, is currently at $822, indicating that there is room for modest increases to align with the FMR without pricing out potential tenants.
The median home value in the area is $169,741, which suggests that properties are affordable for first-time buyers and offer a good investment opportunity for those looking to purchase and rent out homes.
Renters make up 14.9% of the housing market in ZIP 50653, reflecting a significant demand for rental properties but also showing that a majority of residents prefer homeownership.
The median income of residents in this area is $79,250, which supports the ability of tenants to afford the current market rent and hints at the financial stability of the local population.
While the number of days on market (DOM) is listed as N/A, this likely indicates that sales data is not readily available or is inconsistent, suggesting that the rental market might be more active and reliable for investment purposes.

The data points indicate a balanced market in ZIP 50653 where rental properties can be priced slightly above the current market rate to approach the FMR without significantly deterring tenants. Given the median home values and resident incomes, the area offers a solid foundation for investments, particularly in rental properties, due to the steady demand and affordability. Landlords and small-portfolio investors should focus on the rental market, as it presents a more predictable and potentially lucrative opportunity compared to the less transparent sales market.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.