Location: Jackson County, IA | Metro: Dubuque, IA MSA
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 | $760 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $236,700 | 0.43% | F |
| 3BR | $1,340 | $324,579 | 0.41% | F |
| 4BR | $1,630 | $380,046 | 0.43% | F |
| 5BR | $1,891 | $481,186 | 0.39% | F |
U.S. Census Bureau data (2024)
The ZIP code 52031, located in Bellevue, IA, has a population of 5,403 individuals, with 15.0% of residents being renters. This indicates that the area is predominantly homeowner-dominated rather than renter-heavy. The median household income in this ZIP code is $86,674, which provides context for evaluating the rental market dynamics.
The market rent for the area is set at $806 per month. To understand how this compares to the local income, we can calculate that the typical rent consumes approximately 9.2% of the median household income. This is derived from the formula: ($806 / $86,674) * 100 = 9.2%. This figure suggests that rent is relatively affordable compared to the average income level, indicating that most households can comfortably afford rent without relying heavily on Section 8 vouchers.
The Fair Market Rent (FMR) for the ZIP code is $860 for fiscal year 2024, slightly higher than the market rent. This means that the market rent is below the FMR threshold, potentially making it easier for landlords to attract tenants who do not need voucher assistance. However, the difference between the market rent and the FMR is minimal, suggesting that the rental market is closely aligned with the government's assessment of fair rents.
A landlord in ZIP 52031 should expect a tenant pool that is largely composed of individuals and families who can pay market rent without significant reliance on housing vouchers. Given the low percentage of renters and the relatively high median income, the demand for Section 8 vouchers is likely to be shallow. Tenants will likely be middle-income earners who find the rent affordable and may prioritize other factors such as location, amenities, and property condition when choosing a rental unit.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.