Section 8 Fair Market Rent (FMR) for ZIP 51432 - 2027
Location: Crawford County, IA | Metro: Crawford County, IA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $780 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$61,250
To determine if you should invest in ZIP code 51432 for Section 8 properties, follow this decision tree:
- Does the Fair Market Rent (FMR) of $920 cover the debt service on a property?
- If the N/A property's debt service is less than $920, then the answer is Yes. The FMR will sufficiently cover your monthly mortgage payments and other loan-related expenses.
- If the debt service exceeds $920, then the answer is No. You would be unable to clear your debt service solely based on the FMR, making the investment unprofitable without additional income sources.
- Is the market rent above, at, or below the FMR of $920?
- If the market rent is above $920, then the answer is It Depends. While there might be opportunities to charge higher rents outside of Section 8, these higher rents do not affect the amount received from the program. You must consider if the higher market rents justify the investment beyond just Section 8 subsidies.
- If the market rent is at or below $920, then the answer is Yes. This indicates that the market conditions align well with the FMR, allowing you to effectively utilize the Section 8 program without worrying about under-renting properties.
- Are 14.3% of renters combined with N/A-day Days on Market (DOM) sufficient to meet demand?
- If the DOM is low, say under 30 days, and the percentage of renters is stable at 14.3%, then the answer is Yes. This suggests a healthy demand for rental properties, including those participating in the Section 8 program.
- If the DOM is high, indicating slow turnover, then the answer is No. High DOM values suggest a weak rental market, which could make it difficult to find tenants willing to participate in the Section 8 program.
- If the DOM fluctuates widely, then the answer is It Depends. You need to evaluate if the fluctuations are due to seasonal factors or an underlying issue with the rental market. A thorough analysis of local economic trends and tenant preferences is necessary to make an informed decision.
Based on the provided data, landlords can make strategic decisions regarding their investments in ZIP code 51432. Remember, the key to success in Section 8 investments lies in balancing the FMR against debt service costs, understanding local market rents, and assessing the overall demand for rental properties.
Data Sources: FMR data from HUD (2027). 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.