The story of this market
The typical home in ZIP 50641 sells for about $192,059, or $115 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 84 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $681 a month.
ZIP 50641 — Hazleton
The housing market in 50641 is characterized by low inventory and steady, modest price growth. Market activity is driven by local demand for affordable rural housing, with limited new construction keeping supply tight.
This ZIP is best suited for families and individuals seeking a quiet, rural lifestyle with affordable housing options compared to larger regional employment centers.
Median prices moved up 2.1% year over year.
Homes spend a median of 84 days on market with 4.2 months of supply — a balanced-paced market.
15% 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 1.7% · poverty 20.1% — 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 4.0%/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 3.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 50641, Buchanan County IA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Local schools are generally rated as average within the regional context, with limited specialized programming.
The area is subject to standard Midwestern weather risks, including seasonal severe thunderstorms and occasional flooding near local waterways.
Economic momentum is driven by regional agricultural support and small-scale manufacturing, with limited large-scale infrastructure development.
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.
Residents primarily rely on personal vehicles for commuting to nearby employment hubs in Buchanan and Black Hawk counties.
Local amenities include small community parks and access to rural outdoor recreation, with limited commercial shopping districts within a 3-mile radius.
The rental market is characterized by low inventory and stable demand, primarily serving local workers and small families.
The economy is primarily supported by agriculture and small-scale local services, with many residents commuting to larger nearby cities for employment.
Transportation is dominated by regional highway access, with no significant public transit infrastructure available.
Development is currently limited to small-scale residential infill projects.
The Buchanan County Assessor manages property valuations based on annual market analysis and state-mandated assessment cycles.
Parcels are subject to local school district levies and county-wide emergency service assessments.
Property insurance premiums are stable but reflect regional exposure to severe weather events common in Iowa.
Iowa is a judicial foreclosure state, requiring court intervention for the foreclosure process.
Sellers are required to provide a written disclosure statement regarding the condition of the property.
Data retrieved from data.census.gov 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.
Local community green space.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.