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 | $750 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $108,776 | 0.93% | C |
| 3BR | $1,310 | $177,866 | 0.74% | D |
U.S. Census Bureau data (2024)
The ZIP code 51646, located in New Market, IA, stands out within Taylor County due to its unique demographic and economic characteristics. With a population of 767 residents, only 15.0% of whom are renters, this area has a strong homeownership rate, reflecting a median home value of $135,683. The median income of $73,625 suggests that residents have a relatively comfortable standard of living, which is above the national average.
Turning to the voucher economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,070, while the current market rent, based on Census ACS data, is $832. This gap indicates that Section 8 vouchers can provide a significant subsidy to tenants, making rental properties more attractive to those who qualify. Landlords can leverage this difference to attract reliable tenants who can afford the higher FMR rates, thus ensuring a steady income stream.
The data signature for ZIP 51646 reads as stable. The low percentage of renters coupled with a high median home value suggests a community where homeownership is the norm. Additionally, the median income being substantially higher than the national average supports the idea that this area is economically secure. For small-portfolio investors, this stability means lower risks associated with tenant turnover and property values. However, the opportunity to benefit from Section 8 vouchers remains, offering a balanced approach to investment in both rental and homeownership markets.
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.