Location: Carroll County, IA | Metro: Audubon County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
U.S. Census Bureau data (2024)
7.0% of the residents in ZIP code 51440 are renters, indicating a relatively small but stable rental market. This figure suggests that landlords should focus on providing high-quality, affordable housing options to maintain occupancy rates. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930, which is a critical benchmark for landlords operating under the Section 8 program. It's important to note that the actual market rent is currently unavailable, making the FMR an even more crucial reference point for setting rental prices.
$196,986 represents the median home value in ZIP 51440, which can provide insight into the overall economic health of the area. However, the median income of $87,750 is a more direct indicator of the financial capability of potential tenants. Landlords must ensure their rental properties are priced competitively yet remain within the means of local residents to attract and retain tenants.
The data also indicates that there is no available information on the average days on market (DOM) or the percentage of homes that have been price-cut, suggesting either a lack of recent sales activity or incomplete data. Despite these gaps, it's clear that landlords in ZIP 51440 need to be aware of the local economic conditions and the financial capacity of their potential tenants.
To succeed in this environment, landlords should aim to keep their properties well-maintained and priced close to the $930 FMR to maximize participation in the Section 8 program. The limited availability of market-specific data makes reliance on broader regional benchmarks essential.
Given the current data, landlords and small-portfolio investors in ZIP 51440 should consider the Section 8 program as a viable option for ensuring steady tenant demand and property occupancy, provided they adhere to the guidelines and pricing structures established by the program.
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.