Section 8 Fair Market Rent (FMR) for ZIP 51637 - 2027
Location: Page County, IA | Metro: Page County, IA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $730 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,330 |
| 5 Bedrooms | $1,543 |
| 6 Bedrooms | $1,728 |
| 7 Bedrooms | $1,866 |
| 8 Bedrooms | $1,959 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$72,888
To determine if you should buy in ZIP code 51637 for Section 8 purposes, follow this decision tree:
- Does FMR $980 (metro FY 2026) cover debt service on a property?
- If the answer is Yes, proceed to the next question.
- If the answer is No, purchasing for Section 8 is not financially viable due to insufficient income to cover mortgage and other expenses.
- Is market rent above, at, or below FMR?
- If market rent is Above FMR, consider the gap between FMR and market rent. This indicates potential for higher income outside of Section 8, but also reflects that Section 8 may struggle to compete in this market.
- If market rent is At or Below FMR, then Section 8 can be a reliable source of tenants who will pay close to or at market rates, making it a solid investment choice.
- Are 3.7% renters + N/A-day DOM enough demand?
- The percentage of renters at 3.7% suggests a low overall rental demand in the area. However, the days on market (DOM) figure is missing, which is crucial for understanding how quickly properties are leased. If DOM is low, it implies strong demand among those renting, despite the low percentage of renters.
- If DOM is high, it indicates weak demand, even for the few who are looking to rent. In this case, investing in ZIP 51637 for Section 8 would be risky due to slow leasing times.
Summary: For ZIP 51637, your decision to invest for Section 8 should hinge on whether FMR covers your debt service and if market rents align closely with FMR. The low percentage of renters is concerning, but the key factor is the DOM. If DOM is low, it could still be a feasible investment. Otherwise, the answer is No.
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.