Location: Crawford County, IA | Metro: Crawford 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 | $780 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $111,672 | 0.83% | C |
| 3BR | $1,280 | $170,376 | 0.75% | D |
U.S. Census Bureau data (2024)
The ZIP code 51439, located in Charter Oak, Iowa, is distinguished by its relatively low population density and unique economic profile. With only 818 residents, it stands out in Crawford County. A significant portion of these residents, 28.2%, are renters, indicating a notable demand for rental properties. The median household income here is $52,941, which is below the national average, but the median home value is $195,994, reflecting a stable housing market.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $920. This is notably higher than the current market rent of $792, as reported by the Census Bureau's American Community Survey. This discrepancy suggests that landlords accepting Section 8 vouchers can potentially charge closer to the FMR, thereby increasing their rental income without exceeding the voucher limits.
The data signature for ZIP 51439 reads as stable. The combination of a moderate rental rate and a slightly above-average median home value indicates a steady housing market. While the median income is lower than the national average, the presence of a significant number of renters and the opportunity to leverage Section 8 vouchers at rates close to the FMR provides a solid investment opportunity for landlords and small-portfolio investors. The economic environment supports a reliable tenant base, ensuring consistent cash flow and reduced vacancy rates.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.