Section 8 Fair Market Rent (FMR) for ZIP 52032 - 2027

Location: Jackson County, IA | Metro: Jones County, IA HUD Metro FMR Area

Investment Score for ZIP 52032

Monthly Rent (2BR)

$1,050

Median Price (2BR)

$174,818

1% Rule

0.6%

Annual Yield

7.21%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$740
1 Bedroom	$820
2 Bedrooms	$1,050
3 Bedrooms	$1,400
4 Bedrooms	$1,630
5 Bedrooms	$1,891
6 Bedrooms	$2,118
7 Bedrooms	$2,287
8 Bedrooms	$2,401

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,050	$174,818	0.6%	D
3BR	$1,400	$372,342	0.38%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,305

Median Household Income

$88,500

Housing Units

711

Renter Percentage

5.9%

Occupancy Rate

79.3%

Renter Occupied

The ZIP code 52032, located in Bernard, Iowa, offers a stable and predictable market for real estate investment, particularly for those interested in the Section 8 housing voucher program. The area benefits from a modest but consistent rental market, with a mix of single-family homes and rental properties that cater to a diverse range of tenants.

The Fair Market Rent (FMR) for ZIP 52032 in fiscal year 2024 is set at $860 per month for a two-bedroom unit, providing landlords with a benchmark for setting rents that align with government guidelines.
The market rent, according to Census ACS data, is significantly lower at $415 per month, indicating that there is room for growth if landlords can offer well-maintained properties that justify higher rents.
The median home value in Bernard, IA is $286,100, suggesting that the area has a solid foundation of property values that could support long-term investments.
Renters make up only 5.9% of the population, which means that most residents own their homes. This low renter share implies a competitive market for rentals and may necessitate focusing on quality and location to attract tenants.
The number of days on market (DOM) is not available, which could indicate either a robust sales process or a lack of recent transactions. Landlords should consider this when planning to sell their properties.
The median household income stands at $88,500, offering a glimpse into the economic health of the area. This figure suggests that while there is demand for affordable housing, there is also potential for slightly higher rent levels among tenants who are employed and earning above the national average.

In summary, ZIP 52032 presents a balanced opportunity for real estate investors. With a strong median home value and decent median income, the area supports a healthy economy. However, the low renter share and significant gap between market rents and FMR suggest that success will depend on offering high-quality rental units that can command rents closer to the FMR. Given the predictability of the Section 8 program, it remains a viable option for landlords looking to stabilize their cash flow. Investors should focus on property maintenance and strategic pricing to maximize returns.

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.