Location: Ida County, IA | Metro: Ida County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,220 |
| 5 Bedrooms | $1,415 |
| 6 Bedrooms | $1,585 |
| 7 Bedrooms | $1,712 |
| 8 Bedrooms | $1,798 |
U.S. Census Bureau data (2024)
27.8% of residents in ZIP code 51445 are renters, indicating a significant demand for rental properties. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $920, which is notably higher than the current market rent of $695 based on Census ACS data. This suggests potential for increasing rental rates to align with FMR standards. The median home value stands at $149,953, providing a benchmark for property values in the area. With a median income of $64,688, tenants are likely to qualify for assistance programs such as Section 8, given the substantial gap between income levels and housing costs. Although the average days on market (DOM) and the percentage of price-cut share are not available, the disparity between the market rent and the FMR indicates an opportunity for landlords to adjust their pricing strategies. Additionally, the lower market rent compared to FMR can be leveraged by small-portfolio investors to attract tenants who benefit from government subsidies. The data points towards a favorable environment for Section 8 participation, where landlords can secure stable tenancy and receive timely payments.
Section 8 verdict: Suitable for participation due to high tenant qualification likelihood and favorable rent-to-income ratios.
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.