The story of this market
The typical home in ZIP 50475 sells for about $234,450, or $115 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 88 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $704 a month.
ZIP 50475 — Sheffield
The housing market in ZIP 50475 remains stable with low inventory and modest price appreciation. Demand is driven by local residents and those seeking affordable rural living, with limited new construction activity. The market is currently balanced, reflecting the broader economic stability of Mitchell County.
This area is best suited for families and individuals seeking a quiet, affordable rural lifestyle with a strong sense of community.
Median prices moved up 2.1% year over year.
Homes spend a median of 88 days on market with 4.5 months of supply — a balanced-paced market.
12% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.9% · poverty 11.3% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 50475
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in this rural Iowa region are consistently low, with incidents significantly below both state and national averages.
Local schools are generally characterized by small class sizes and strong community support, typical of rural Iowa districts.
The area faces moderate risk from severe thunderstorms and occasional flooding, with standard insurance coverage readily available.
Economic momentum is driven by agriculture and local manufacturing, with stable but slow growth patterns typical of the region.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Iowa) — Iowa Property Tax Assessment Limitation: The taxable value is determined by applying an assessment limitation (rollback) to the assessed market value. The limitation is calculated annually to restrict the growth in aggregate taxable value for the residential class to 3% statewide.
Commutes are primarily by private vehicle, with most residents traveling to nearby county seats or regional hubs for employment.
Recreation is centered on outdoor activities including local parks, fishing, and community-based sports facilities.
The rental market is characterized by low inventory and stable demand, with limited turnover and minimal short-term rental presence.
The economy is heavily reliant on the agricultural sector, with support from local government and small-scale manufacturing.
Transportation is almost exclusively via personal vehicle, with no significant public transit infrastructure.
Development is limited to small-scale residential and commercial improvements within existing city limits.
The county assessor manages property valuations based on biennial cycles, focusing on market-value adjustments.
Parcels are subject to local school district levies and county-wide emergency service assessments.
Property insurance remains stable, though premiums are influenced by regional weather-related risk factors.
The state experiences modest net domestic migration, with rural areas seeing stable population levels.
Iowa is a judicial foreclosure state, requiring court intervention for the foreclosure process.
Sellers are required to provide a standard real estate disclosure form detailing the condition of the property.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Historic anchor in the county seat.
Community-maintained green spaces for recreation.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.