Section 8 Fair Market Rent (FMR) for ZIP 51441 - 2027

Location: Crawford County, IA | Metro: Crawford County, IA

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

468

Median Household Income

$48,750

Housing Units

210

Renter Percentage

11.4%

Occupancy Rate

79.5%

Renter Occupied

The ZIP code 51441, located in Iowa, represents a stable suburban market with a strong foundation for rental properties. The area benefits from a mix of residential and agricultural influences, providing a consistent demand for housing among both long-term residents and seasonal workers.

The Fair Market Rent (FMR) for a two-bedroom apartment in the metro area for fiscal year 2026 is set at $920. This figure reflects the federal guideline for affordable housing and sets a benchmark for rental pricing.
The average market rent for the area, according to Census ACS data, stands at $700. This indicates that rental prices are currently below the FMR, offering potential for modest increases without becoming unaffordable to tenants.
The median home value in ZIP 51441 is $125,112. This relatively low figure suggests that purchasing property in the area could be cost-effective for investors looking to build a portfolio.
Renters make up 11.4% of the housing market in this ZIP code. While this percentage is lower compared to urban areas, it still represents a significant portion of the population and a viable tenant base.
The days on market (DOM) for listings is not applicable (N/A), which might indicate that the local real estate market operates differently, possibly with a higher volume of private sales or direct landlord-tenant agreements.
The median household income in the area is $48,750. This level of income supports a moderate rental market, where tenants can afford rents close to the FMR but with some flexibility depending on the economic conditions.

Investors in ZIP 51441 can leverage the gap between current market rents and the FMR to increase their rental yields slightly. With a median home value of $125,112, the acquisition costs are favorable, making it easier to achieve positive cash flow. The 11.4% renter share indicates a steady but not overwhelming demand for rental units, suggesting that investors should focus on quality and location to attract tenants. The median income of $48,750 provides a reliable basis for rental affordability, ensuring that tenants can meet their obligations. Overall, ZIP 51441 offers a balanced opportunity for real estate investment, particularly for those interested in rental properties that align with the principles of the Section 8 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.