Location: Greene County, IA | Metro: Carroll County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
ZIP 51443, located in Greene County, IA, is best suited as a cash-flow anchor within a Section 8 portfolio strategy. This designation is based on the significant spread between the Fair Market Rent (FMR) of $920 for the metro area in fiscal year 2026 and the average market rent of $828. Additionally, the median home value in this ZIP code is $218,309, which is slightly higher than the average home value of $214,879.
The lower market rent compared to the FMR indicates that there is a strong opportunity to secure rental income through the Section 8 program, which can help stabilize cash flow. However, the 1% rule is not met, as the monthly rent does not cover 1% of the home value. This suggests that properties in this ZIP might not be ideal for those seeking quick cash returns, but they can serve as reliable anchors for a diversified portfolio.
The median income in ZIP 51443 is $78,906, which is relatively high compared to the national average. This higher income level supports the viability of Section 8 rents and suggests a stable tenant base. Despite the 18.0% renter share being modest, it still provides a reasonable tenant pool for Section 8 properties.
ZIP 51443 is not recommended as an appreciation play, given the lack of specific price-cut share and days on market (DOM) data. The appreciation metrics indicate a moderate growth trend, with a 5-year compound annual growth rate (CAGR) of +8.3%, but this is not sufficient to justify an appreciation-focused strategy.
In conclusion, ZIP 51443 serves as a cash-flow anchor in a Section 8 portfolio due to the favorable spread between FMR and market rent, despite the modest appreciation potential. The high median income supports stable tenancy, making it a reliable component of a diversified investment strategy.
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.