Location: Page County, IA | Metro: Page County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
14.3% of the population in ZIP code 51651 are renters, indicating a moderate demand for rental properties in the area. With a Fair Market Rent (FMR) set at $1,120 for metro FY 2026, landlords can expect to receive this amount or slightly less under the Section 8 program, which is designed to ensure affordable housing. The Census ACS reports a market rent of $1,063, suggesting that the actual rents charged are below the FMR, leaving some room for negotiation. However, it's important to note that there is no available data on the median home value, which could indicate a lack of recent sales activity or limited data for this specific ZIP code.
$62,500 is the median income in ZIP 51651, which is a key figure for understanding the financial capacity of potential tenants. This income level is crucial when considering the eligibility criteria for Section 8 participants, who must earn below a certain threshold to qualify for assistance. The absence of data regarding the days on market (DOM) and the percentage of price-cut shares suggests that the real estate market in this area might be stable, without significant fluctuations in pricing or prolonged periods where properties remain unsold or unrented.
The discrepancy between the FMR ($1,120) and the market rent ($1,063) indicates that landlords participating in the Section 8 program may find the rent subsidies adequate but not overly generous. Given the moderate renter share and the stable market conditions indicated by the lack of DOM and price-cut data, landlords and small-portfolio investors should approach the Section 8 program with caution, ensuring they fully understand the subsidy levels and tenant qualification processes.
Section 8 Verdict: Acceptable for moderate-risk portfolios, with rents aligning closely to market rates.
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.