Location: Delaware County, IA | Metro: Clayton County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 52050 within the Delaware County, IA metro area reveals several key insights for landlords and small-portfolio investors.
Firstly, regarding the rent math, it does not work favorably based on the current data. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $960, while the actual market rent as per Census ACS data stands at $888. This indicates that landlords aiming to meet the FMR may face challenges in attracting tenants at that higher rate, given the current market conditions.
Secondly, the acquisition cost of properties in this area is relatively low. With a median home value of $242,563, purchasing a property is more affordable compared to other areas with similar FMRs. However, the lack of specific data on days on market (DOM) and the percentage of homes that required price cuts to sell suggests that there might be some uncertainty in the local real estate market dynamics, which could affect the ease of acquiring new properties.
Lastly, there is a moderate tenant demand in ZIP 52050. The total population is 422, with 14.1% of residents being renters. This means that approximately 59 individuals are looking for rental housing. While the number of potential renters is not large, it is sufficient to support a few rental units, especially if the landlord can offer competitive rents below the FMR.
In conclusion, ZIP 52050 presents a mixed picture for real-estate investment. The rent math does not align well with the current market, suggesting that landlords should focus on offering competitive rates to attract tenants. Acquisition costs are reasonable, but the incomplete data on market performance introduces an element of risk. Tenant demand exists but is limited; thus, landlords must carefully manage their properties to ensure occupancy. Overall, the area may suit cautious investors who are willing to adjust their expectations and strategies accordingly.
Data Sources: FMR data from HUD (2027). 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.