Location: Osceola County, IA | Metro: Osceola 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 | $690 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,220 |
| 5 Bedrooms | $1,415 |
| 6 Bedrooms | $1,585 |
| 7 Bedrooms | $1,712 |
| 8 Bedrooms | $1,798 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,220 | $192,812 | 0.63% | D |
U.S. Census Bureau data (2024)
The ZIP code 51354 presents several challenges for potential Section 8 landlords. Firstly, tenant turnover is a significant concern due to the difference between the market rent of $923 and the Fair Market Rent (FMR) of $970 for fiscal year 2026 in the metropolitan area. This gap can lead to frequent changes in occupancy as tenants seek properties that better match their budget or quality expectations.
Vacancy exposure is another issue. With the days on market (DOM) being N/A, it suggests either a very competitive rental environment or limited data on property listings. In either case, landlords must be prepared for periods where their units remain unoccupied, leading to lost rental income.
Deferred maintenance is also a risk factor. The typical home value in the area is $162,681, while the median income stands at $72,639. This indicates that homeowners might delay necessary repairs and upgrades, which could affect the overall condition of the housing stock and increase the burden on landlords to maintain their properties to meet Section 8 standards.
However, these risks are mitigated by the high renter share in the area, which is 18.8%. High renter density typically correlates with higher demand for housing vouchers, making it easier to find eligible tenants. This demand can stabilize the rental market and reduce the impact of vacancy periods.
In conclusion, the risk for a first-time Section 8 landlord in ZIP code 51354 is moderate.
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.