Location: Hardin County, IA | Metro: Waterloo-Cedar Falls, 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 | $690 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,230 | $210,787 | 0.58% | F |
U.S. Census Bureau data (2024)
ZIP code 50672, located within the Hardin County, IA metro area, exhibits several distinct characteristics that set it apart from other ZIP codes in the region. The Fair Market Rent (FMR) for 50672 is $860 per month as of fiscal year 2024, which is notably higher than the market rent figure of $740. This indicates that there might be a subsidy-driven demand in the area, making it potentially attractive for landlords participating in the Section 8 program.
The median home value in ZIP 50672 stands at $186,553, which is lower than the average home value in the county. This suggests that the area could be considered a value pocket within the metro, offering affordable housing options to renters and potentially lower investment costs for landlords.
A significant portion of the population in ZIP 50672 rents their homes, with a renter share of 23.2%. This is higher than the average renter share in Hardin County, indicating a strong rental market presence. The combination of a relatively high renter share and below-average home values can signal a sweet spot for Section 8 investments, where the rental subsidies can help cover the costs of maintaining properties without the need for extremely high rent prices.
In summary, ZIP 50672 appears to be a value pocket within the Hardin County, IA metro. It offers an opportunity for landlords who are willing to participate in the Section 8 program due to its below-average home values and above-average FMR, coupled with a higher-than-average renter share. These factors collectively suggest that the area has potential for steady rental income supported by government subsidies, making it a worthwhile consideration for investors focused on the Section 8 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.