Location: Dubuque, IA | Metro: Jones County, IA HUD Metro FMR Area
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 | $730 |
| 1 Bedroom | $830 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,050 | $231,333 | 0.45% | F |
| 3BR | $1,400 | $281,056 | 0.5% | F |
| 4BR | $1,630 | $373,881 | 0.44% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 52033 in Cascade, Iowa, for fiscal year 2024 is set at $900. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. It is important to note that this is not the rent you will charge your tenants; rather, it is the maximum amount that the housing authority will pay toward the tenant's rent subsidy.
In comparison, the average rent in Cascade, as reported by the Census Bureau's American Community Survey (ACS), stands at $916. This indicates that the FMR is slightly below the market rate, which can be a consideration when setting your own rental price. However, remember that the housing authority will only contribute up to $900 per month under the voucher program.
The 21.8% share of renters in the area suggests a moderate demand for rental properties. While this percentage is not exceptionally high, it does indicate that there is a reasonable number of potential tenants who might benefit from Section 8 vouchers. This can be an advantage if you are looking to fill vacancies with reliable tenants.
If you are considering purchasing a property in Cascade for your first Section 8 rental, the median home value of $288,282 provides a benchmark for the acquisition cost. This figure should be used alongside other financial metrics, such as expected rental income and maintenance costs, to determine whether the investment aligns with your financial goals.
Before proceeding with a purchase, it is crucial to verify the property's compliance with HUD standards. These standards ensure that the rental unit meets certain safety and quality criteria required for participation in the Section 8 program. Failure to meet these standards could result in disqualification from the program, leading to potential financial losses.
To summarize, the FMR of $900 sets the payment ceiling for the housing authority, while the local average rent of $916 gives insight into market conditions. The 21.8% renter share points to moderate demand, and the median home value of $288,282 offers a basis for understanding the typical acquisition cost. Your next step should be confirming the property's adherence to HUD standards to avoid any issues down the line.
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.