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 | $710 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $960 | $146,542 | 0.66% | D |
| 3BR | $1,330 | $181,800 | 0.73% | D |
| 4BR | $1,370 | $186,577 | 0.73% | D |
| 5BR | $1,589 | $238,342 | 0.67% | D |
U.S. Census Bureau data (2024)
The median income in ZIP code 51442, located in Denison, Iowa, stands at $66,767. Given this figure, it is evident that the market rate rent of $755 presents a significant financial challenge for many households. To put this into context, let us consider the affordability of housing and the implications for landlords.
A household earning the median income would allocate approximately 14% of their monthly income towards paying the market rate rent of $755. This percentage is based on the assumption that a household spends around one-third of its income on housing, which is a common benchmark. However, the actual Financial Market Rent (FMR) set for the metro area in fiscal year 2026 is $960. This means that the government considers a rental price of $960 as reasonable for this area, but it is beyond the reach of many local residents.
The disparity between the market rate ($755) and the FMR ($960) highlights a notable affordability gap for renters. With 26.8% of the 9,692 residents being renters, this gap suggests fierce competition among landlords who offer units at or below the market rate. Landlords who can accommodate Section 8 voucher holders, therefore, have an advantage in securing tenants who can pay the higher FMR rate.
For landlords considering whether to accept vouchers or focus on cash-paying tenants, the decision should be informed by the local rental market dynamics. Accepting vouchers allows landlords to charge closer to the FMR rate, which is significantly higher than the current market rate. This strategy could potentially increase rental income and reduce vacancy rates, given the high demand for affordable housing.
In conclusion, landlords in ZIP 51442 must weigh the benefits of accepting Section 8 vouchers against the challenges of finding cash-paying tenants willing to pay the market rate. The data clearly shows that the voucher program aligns more closely with the government's assessment of reasonable rental costs and offers a pathway to higher, more stable rental income.
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.