Section 8 Fair Market Rent (FMR) for ZIP 50849 - 2027

Investment Score for ZIP 50849

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

Investment Analysis by Bedroom Size

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

In evaluating whether to invest in ZIP code 50849 (Greenfield, IA) for Section 8 properties, follow this decision tree based on the specific data points provided.

Step 1: Can the Fair Market Rent (FMR) of $920 cover the debt service on a property valued at $180,883?

• Yes: If the FMR can indeed cover the debt service, proceed to Step 2. This means that the rental income at $920 per month is sufficient to meet the mortgage and other financial obligations associated with the property.
• No: If the FMR of $920 cannot cover the debt service on a property priced at $180,883, purchasing for Section 8 in this area is not financially viable. The rental income would be insufficient to support the costs of ownership.

Step 2: How does the market rent of $617 compare to the FMR?

• Above FMR: If the market rent were above the FMR, it would indicate that the property could potentially command higher rents outside of Section 8. However, since the market rent is $617, which is below the FMR of $920, this branch does not apply.
• At FMR: This scenario also does not apply given the data provided.
• Below FMR: Since the market rent is $617, which is below the FMR of $920, this suggests that there might be an opportunity for landlords to attract Section 8 tenants who are willing to pay up to the FMR. This makes the area attractive for Section 8 investments.

Step 3: Is there sufficient demand with 29.2% of residents being renters and the day DOM (Days On Market) being N/A?

• It depends: With 29.2% of residents being renters, there is a notable portion of the population that relies on rental housing. However, the lack of data on the average days on market (DOM) makes it challenging to assess how quickly units might rent out. If the DOM is low, indicating quick turnover, then the demand is likely high enough to support Section 8 investments. Conversely, if the DOM is high, it could suggest difficulties in renting out units promptly.

To summarize, if the FMR of $920 covers the debt service on a $180,883 property and the market rent is below the FMR, then Greenfield, IA, could be a suitable location for Section 8 investments. The final decision hinges on the actual rental demand, which requires additional data on the average DOM to make a definitive judgment.

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.