Location: Taylor County, IA | Metro: Page 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 | $690 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $109,573 | 0.85% | C |
| 3BR | $1,180 | $180,743 | 0.65% | D |
| 4BR | $1,260 | $231,892 | 0.54% | F |
| 5BR | $1,462 | $296,790 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 51632, located in Clarinda, IA, has a population of 6,624 individuals, with 27.6% of them being renters. This indicates that it is a moderately renter-heavy area, though not overwhelmingly so. The median household income stands at $55,055, which provides a baseline for understanding the economic context of potential tenants.
With a market rent of $667, the average rent consumes approximately 12% of the median household income. This figure suggests that while rent is a significant expense, it is manageable for most households given their income level. However, when compared to the Fair Market Rent (FMR) of $920 for the metro area (FY 2026), it becomes clear that the rent in ZIP 51632 is below the FMR, indicating a potentially lower cost of living relative to other areas in the region.
The lower rent relative to the median income also implies that there might be a deeper demand for rental properties among those utilizing Section 8 vouchers. This demand is likely due to the affordability of the rent in relation to the income levels of the residents. Landlords in this area can expect a tenant pool that includes a mix of voucher holders and non-voucher holders who are able to afford the rent without assistance.
To further analyze the tenant profile, consider that the 27.6% renter rate means that roughly 1,827 people are looking for rental housing. Given the FMR and the market rent, it's reasonable to infer that a portion of these renters will be seeking properties through Section 8 vouchers. The vouchers would cover up to $920 of the rent, making properties priced at $667 highly attractive to voucher holders.
A landlord in ZIP 51632 should anticipate a tenant base that values affordable housing options. The expected tenants will likely include families and individuals whose incomes are low enough to qualify for housing assistance programs such as Section 8. These tenants will appreciate the lower market rent compared to the FMR, which makes Clarinda an appealing location for those seeking subsidized housing.
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.