JeffCroweCRE

Housing market/Iowa/ZIP 50702

ACS 2023 · FY2027 SAFMR

ZIP 50702 Waterloo, Iowa

Waterloo-Cedar Falls, IA HUD Metro FMR Area · Iowa. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
21,197
Households
9,009
Median HH income
$59,784
Renter share
40.6%
Median gross rent
$926
Vacancy
7.3%
Pop. change
+9.8%
2BR SAFMR
$1,140
SAFMR / rent
1.231×
2–49 unit stock
2,102
LIHTC proj / units
2 / 156
HUD assisted MF
4 / 219

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 50702 · IA — sent to you.

ZIP 50702 · IA

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ACS rent vs 2BR SAFMR

ZIP 50702 — Waterloo, IA HUD Section 8 Payment Standards / SAFMR →
ACS median rent$926
2BR SAFMR$1,140
90% floor$1,026
110% ceiling$1,254

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 50702

  • 1-unit detached6,70969.2%
  • 1-unit attached4344.5%
  • 2–4 units8218.5%
  • 5–49 units1,28113.2%
  • 50+ units3823.9%
  • Mobile710.7%
TypeUnitsShare
1-unit detached6,70969.0%
1-unit attached4344.5%
2 units (duplex)3503.6%
3–4 units4714.8%
5–9 units4744.9%
10–19 units6726.9%
20–49 units1351.4%
50+ units3823.9%
Mobile710.7%

2–4 unit share 8.4% · 5–49 unit share 13.2% · combined 2–49 21.6%.

Units by bedrooms

Studio
210
1BR
1,112
2BR
3,636
3BR
3,678
4BR
932
5+
154

Rent burden

Rent ≥30% of income34.0%
Rent ≥50% of income15.8%
  • ACS median gross rent $926 (all bedrooms, occupied rentals).
  • Median contract rent $758.
  • Renters paying ≥30% of income 34.0%; ≥50% 15.8%.
  • FY2027 2BR SAFMR $1,140 (1.231× ACS median gross rent).

Population

21,197 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +9.8%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 2 projects, 156 units.
  • HUD project-based assisted MF: 4 properties, 219 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 283 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 50702 40.6% of occupied households are renters; vacancy is 7.3%; ACS median gross rent is $926; population increased +9.8% between the 2018 and 2023 ACS vintages; the housing stock includes 821 units in 2–4-unit structures and 1,281 units in 5–49-unit structures; 2 LIHTC projects totaling 156 units; FY2027 2BR SAFMR is $1,140 versus ACS median gross rent of $926. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

Iowa research

ZIP 50702 is a Census / HUD profile for Waterloo-Cedar Falls, IA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 50702 — Waterloo, IA HUD Section 8 Payment Standards / SAFMR·Iowa ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
50623Waterloo-Cedar Falls, IA HUD Metro FMR Area0.0%—$1,01050624Waterloo-Cedar Falls, IA HUD Metro FMR Area9.7%$708$95050634Waterloo-Cedar Falls, IA HUD Metro FMR Area12.0%$815$95050642Waterloo-Cedar Falls, IA HUD Metro FMR Area14.9%$1,094$1,26050643Waterloo-Cedar Falls, IA HUD Metro FMR Area9.8%$1,090$1,15050657Waterloo-Cedar Falls, IA HUD Metro FMR Area8.5%—$95050667Waterloo-Cedar Falls, IA HUD Metro FMR Area8.2%$1,125$1,05050673Waterloo-Cedar Falls, IA HUD Metro FMR Area15.8%—$1,00050701Waterloo-Cedar Falls, IA HUD Metro FMR Area32.9%$846$1,03050703Waterloo-Cedar Falls, IA HUD Metro FMR Area42.3%$926$1,08050704Waterloo-Cedar Falls, IA HUD Metro FMR Area——$1,11050707Waterloo-Cedar Falls, IA HUD Metro FMR Area30.7%$922$1,050

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Iowa research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 50702?

ZIP 50702 (Waterloo-Cedar Falls, IA HUD Metro FMR Area) has 21,197 residents, 9,009 households, a renter share of 40.6%, median household income of $59,784, and ACS 2023 median gross rent of $926. Vacancy is 7.3%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 50702?

ACS counts 350 units in 2-unit buildings, 471 in 3–4 unit buildings, 474 in 5–9, 672 in 10–19, and 135 in 20–49. Combined 2–49 unit stock is 2,102 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 50702?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,140. See the full schedule and 90–110% payment-standard band on the ZIP 50702 — Waterloo, IA HUD Section 8 Payment Standards / SAFMR.

Does this Iowa ZIP profile include Georgia listings?

No. ZIP 50702 is Census / HUD research for Waterloo-Cedar Falls, IA HUD Metro FMR Area. Jeff Crowe CRE does not list Iowa property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.