The story of this market
The typical home in ZIP 50602 sells for about $160,611, or $94 per square foot.
Prices are up +6% from a year ago, so sellers still have some momentum. Homes take about 120 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $828 a month.
ZIP 50602 — Allison
The housing market in 50602 is characterized by low inventory and slow turnover, typical of a small, rural county seat. Prices have seen modest appreciation, but the market remains highly localized with limited sales volume. Most data points reflect a stable, slow-growth environment.
This ZIP is best suited for families and individuals seeking a quiet, rural lifestyle in a small-town setting, particularly those employed in agriculture or local government.
Median prices moved up 6.0% year over year.
Homes spend a median of 120 days on market with 6.5 months of supply — a slower-moving market.
15% of listings have cut prices · homes sell at 97.9% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.1% · poverty 7.6% — 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 3.8%/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 1.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 50602, Butler County IA
The area is served by the Allison-Bristow Community School District, which provides local public education for the rural community.
The region is subject to standard Midwestern weather risks, including severe thunderstorms and occasional flooding, with insurance premiums reflecting regional agricultural and rural risk profiles.
Economic momentum is driven primarily by the agricultural sector and local government administration as the county seat of Butler County.
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 car-dependent, with residents traveling to nearby regional hubs like Waterloo or Cedar Falls for major employment.
Local amenities include small-town parks and proximity to rural outdoor recreation areas, with limited large-scale shopping or entertainment within a 3-mile radius.
The rental market is characterized by low inventory and stable demand, with rents often influenced by HUD fair-market guidelines due to the limited supply of multi-family housing.
The economy is anchored by Butler County government operations and the surrounding agricultural industry.
Parcels are subject to standard county and school district levies; no major MUD or PID districts are reported.
Property insurance rates are stable but sensitive to regional weather-related claims common in rural Iowa.
Data retrieved from US Census Bureau ZCTA 50602 profiles.
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. Source: NCES EDGE public school locations 2023-24.
The historic center of county government and local administration.
Provides local green space and community recreational facilities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.