Real Estate Investing in Allison, Iowa (50602)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 50602 (Allison, IA)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.9% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Allison, IA (50602)?
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Market Analysis: 50602 Allison
The 50602 ZIP in Allison, IA is a local-operator market. Outside capital chasing a $175K entry has to pair deep knowledge with the discount.
Rent of $828/mo on a $175K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 50602 sits below the stated 0.0% once reality is priced in.
Regionally, 50602 sits on the difficult end of the IA spectrum. The worth a close look for read — for disciplined operators — is that pricing reflects the difficulty.
The 50602 ZIP's population of 1,372 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that shows the need for careful underwriting.
The 50602 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Allison:
Property Strategy for 50602
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $129,019 | $920 | 5.1% | +5.8% | $64,510 |
| 3BR | $166,502 | $1,100 | 4.8% | +5.8% | $55,501 |
Market Trends
Home Value History (with trend line)
📊 How Does 50602 Compare?
| Metric | 50602 | Allison | Iowa |
|---|---|---|---|
| Home Value | $174,645 | $174,645 | $227,232 |
| 5-Year CAGR | 6.0% | 6.0% | 6.0% |
| Avg Rent | $828 | $828 | - |
| Cap Rate | 3.7% | 3.7% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 50602 (Allison, IA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $174,645 |
| Monthly Rent | $828 |
| Price-to-Rent | 17.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.7% |
| Cap Rate | 3.7% |
| 5-Year IRR | 9.7% |
📈 Home Appreciation
| 1-Year | +7.6% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +6.0% ▲ |
| 10-Year CAGR | +5.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 50602
Population: 1,372
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 50602
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
What is it like being a landlord in Allison, IA?
IA law landlord-friendly for landlords, and Allison inherits those rules. Investors should still review local ordinances for rental licensing.
How does Allison, IA rate as a rental market?
Allison, IA rates 3.0/5 for investability. With median values at $175K and rents near $828/mo, the market offers reasonable fundamentals for rental investors.
Are renters plentiful in Allison, IA?
Working renters make up the core of the Allison, IA tenant base. The pool is reasonable for investors targeting long-term holds.
Can owner-occupants cash flow in Allison, IA?
Allison, IA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $175K price point reasonable to enter.
How do home values compare in Allison, IA?
In Allison, IA the median home value sits at $175K. Against the broader IA market, that reads as reasonable for most investors.
You know 50602 now. You don’t know where it ranks.
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