Location: Butler County, IA | Metro: Bremer County, IA HUD Metro FMR Area
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 | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,240 |
| 5 Bedrooms | $1,438 |
| 6 Bedrooms | $1,611 |
| 7 Bedrooms | $1,740 |
| 8 Bedrooms | $1,827 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $161,659 | 0.58% | F |
| 3BR | $1,210 | $236,118 | 0.51% | F |
| 4BR | $1,240 | $291,509 | 0.43% | F |
U.S. Census Bureau data (2024)
ZIP code 50666 in Plainfield, IA, is a small-town neighborhood with a population of 753 residents. Only 5.3% of these residents are renters, indicating a predominantly owner-occupied community. The median household income here stands at $79,867, reflecting a middle-class area where families have stable financial footing. Median home values are set at $216,276, suggesting that homes in this ZIP are reasonably priced and accessible to local buyers.
The economic landscape for rental properties is quite distinct. The Fair Market Rent (FMR) for ZIP 50666, as determined for fiscal year 2024, is $860. This is notably higher than the average market rent reported by the Census Bureau's American Community Survey (ACS), which is $684. The gap between the FMR and the actual market rent suggests an opportunity for landlords who can offer housing within the voucher range, potentially attracting tenants who benefit from the subsidy.
Given these factors, ZIP 50666 would be better suited for a hands-on value-add buyer rather than a hands-off voucher operator. The low percentage of renters indicates a limited pool of potential voucher tenants, making it challenging for a passive operator to find enough eligible tenants to fill units. However, for an active investor willing to renovate properties or manage them closely, the discrepancy between FMR and market rents presents a chance to increase rental income while still being competitive with the voucher system. This approach could lead to higher returns on investment over time.
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.