The story of this market
The typical home in ZIP 50662 sells for about $92,450, or $78 per square foot.
Prices are down 2.1% from a year ago, which gives buyers more room to negotiate. Homes take about 87 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $857 a month.
ZIP 50662 — Oelwein
The housing market in 50662 remains stable with low inventory and modest price points. Demand is driven by local affordability, though limited economic growth keeps the market from significant appreciation.
This ZIP is well-suited for budget-conscious family buyers and retirees looking for a low cost of living and a quiet, small-town lifestyle.
Median prices moved down 2.1% year over year.
Homes spend a median of 87 days on market with 6.2 months of supply — a balanced-paced market.
12% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.6% · poverty 17.1% — a mixed stability 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 3.1%/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 3.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 50662, Fayette 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.
Crime rates in Oelwein are generally consistent with regional averages for small-town Iowa, with property crime being the primary concern.
The Oelwein Community School District serves the area, with schools generally receiving average ratings for student progress and proficiency.
The area faces moderate risk from severe weather, including thunderstorms and occasional flooding near local waterways.
Economic momentum is stable, driven by local manufacturing and agricultural support services, with limited large-scale new 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.
Commutes are primarily local, with most residents working within Oelwein or commuting to nearby regional hubs via Iowa Highway 150.
The area features local parks such as City Park and proximity to regional trails, with basic shopping and dining concentrated in the downtown district.
The rental market is characterized by low turnover and limited new inventory, with rents remaining relatively affordable compared to larger metro areas.
The economy is anchored by manufacturing, healthcare, and agricultural services, providing a stable employment base for the region.
Transportation is heavily reliant on personal vehicles, with Iowa Highway 150 serving as the primary arterial corridor.
Development is currently focused on small-scale residential infill and maintenance of existing infrastructure.
Fayette County Assessor manages property valuations based on periodic market assessments and state-mandated equalization.
Parcels are subject to Oelwein Community School District taxes and local municipal utility assessments.
Property insurance premiums are influenced by regional exposure to severe weather events, including wind and hail.
Data retrieved from data.census.gov ZCTA-level 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.
Provides local green space and recreational facilities.
Serves as a local hub for community events and arts.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.