Location: O'Brien County, IA | Metro: Cherokee County, IA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $1,930 |
| 5 Bedrooms | $2,239 |
| 6 Bedrooms | $2,508 |
| 7 Bedrooms | $2,709 |
| 8 Bedrooms | $2,844 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,800 | $217,557 | 0.83% | C |
U.S. Census Bureau data (2024)
13.7% of the residents in ZIP 51014 are renters, indicating a moderate demand for rental properties in the area. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,380, which is slightly above the current market rent of $1,353 based on Census ACS data. This suggests that properties priced at the FMR could be competitive in the local rental market. The median home value in the region stands at $184,103, offering a stable investment opportunity for real estate investors. Given the median income of $69,688, tenants are likely to find the $1,353 market rent affordable, supporting a steady occupancy rate. However, the lack of data on days on market (DOM) and the percentage of price-cut shares indicates that there might be limited information available on the speed and conditions under which properties are sold or rented out. Despite these gaps, the overall financial metrics paint a picture of a balanced market where both homeownership and rental investments can thrive. In conclusion, for landlords and small-portfolio investors, ZIP 51014 presents a viable option for Section 8 housing, with rents closely aligned to the FMR and a reasonable tenant affordability ratio.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.