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 | $660 |
| 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 |
|---|---|---|---|---|
| 2BR | $950 | $123,303 | 0.77% | D |
| 3BR | $1,230 | $156,711 | 0.78% | D |
| 4BR | $1,590 | $228,916 | 0.69% | D |
U.S. Census Bureau data (2024)
The ZIP code 50680, located in Wellsburg, IA, within Grundy County, has a distinct profile that sets it apart from many other areas. With a population of 1,027 residents, only 6.2% rent their homes, indicating a strong preference for homeownership among the local populace. The median income here is $75,956, which is relatively high compared to the national average, suggesting a prosperous community. Additionally, the median home value stands at $161,282, further reinforcing the area's appeal for those looking to invest in property.
Turning to the voucher economics, the Fair Market Rent (FMR) for ZIP 50680 in fiscal year 2024 is set at $860. This figure contrasts sharply with the actual market rent, which is recorded at $584 according to the Census American Community Survey (ACS). This discrepancy means that landlords who accept Section 8 vouchers can potentially receive higher rents than the market rate, making the ZIP code an attractive option for those willing to participate in the program. The difference between the FMR and market rent could also indicate a lower cost of living in the area, or that the housing market is not fully utilizing the higher rental potential offered by the voucher system.
Evaluating the data signature of ZIP 50680, it reads as stable. The low percentage of renters suggests a community that values long-term investment in property, while the high median income and reasonable median home value indicate financial stability. The gap between the FMR and the market rent presents a clear opportunity for landlords to benefit from the Section 8 program without facing significant risks. For small-portfolio investors, this ZIP code offers a secure environment with potential for above-market returns through the voucher system.
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.