Location: Fremont County, IA | Metro: Fremont County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,690 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 51648 reveals a favorable cashflow scenario when compared to the HUD Fair Market Rent (FMR) of $1,200 for the metro area, effective in fiscal year 2026. The Census American Community Survey (ACS) indicates that the average market rent for the area is $830, which is significantly lower than the HUD FMR.
Voucher tenants in ZIP 51648 cashflow at the HUD FMR, meaning that landlords can expect positive cashflow from Section 8 tenants who are reimbursed at the $1,200 rate. This is because the reimbursement amount exceeds the typical market rent of $830. Therefore, landlords will likely see a substantial margin above the market rent, enhancing profitability.
The median home value in the area is $185,650. Using this figure, we can calculate the rent-to-price ratio, which is an important metric for assessing the relative affordability of rental properties. With an average market rent of $830, the rent-to-price ratio is approximately 0.45%. This suggests that rental income is relatively low compared to property values, but given the higher reimbursement rates from Section 8 vouchers, it remains a viable investment strategy.
Note that the data on median days on market (DOM) and the percentage of homes that have been listed with a price cut are not available. However, these metrics would typically be relevant for understanding the rent-versus-buy dynamics in the area. In their absence, we must rely on other indicators to assess the market's health and potential for investment.
The strongest angle for investors in ZIP 51648 is cashflow. The significant gap between the HUD FMR and the market rent means that landlords can secure steady and profitable income streams from Section 8 tenants without needing to offer premium units.
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.