Location: Dubuque, 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 | $830 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,190 | $254,289 | 0.47% | F |
| 3BR | $1,590 | $286,030 | 0.56% | F |
| 4BR | $1,960 | $387,451 | 0.51% | F |
U.S. Census Bureau data (2024)
The Farley, IA market, represented by ZIP code 52046, exhibits a dynamic interplay between rental and homeownership segments that suggests an environment where demand is closely aligned with supply. The Fair Market Rent (FMR) for the area is set at $940 for the fiscal year 2024, indicating a level of affordability for renters. However, the market rent, as per the Census ACS data, stands at $1,095, which is notably higher than the FMR. This discrepancy points to a scenario where landlords can command rents above the government's benchmark, suggesting that demand for rental units exceeds the supply.
The median home value in Farley is $306,515. While the percentage of homes being sold at a discount and the days on market (DOM) are not available, the median home value provides insight into the overall housing market. It reflects a stable housing price that is likely influenced by local economic conditions and the balance between buyers and sellers. The absence of significant price cuts and quick sales times would typically indicate a balanced or slightly tight market, but without specific data, we can only infer that the market is steady.
A critical factor in assessing the long-term housing dynamics is the 34.2% renter share. This figure suggests a substantial portion of the population opts for renting rather than owning property. High renter shares often correlate with areas experiencing economic growth, transient populations, or young professionals who are not yet ready to commit to homeownership. In Farley, this indicates a continuous pressure on the rental market, ensuring that landlords will have a steady stream of potential tenants.
In summary, Farley's rental market appears robust, with landlords able to charge above the FMR. The median home value of $306,515 implies a stable homeownership segment. With a significant 34.2% of residents choosing to rent, there is sustained demand for rental properties, which supports the notion that demand for rentals is strong relative to supply. Landlords and small-portfolio investors should find opportunities in both segments, but the rental market shows particular promise due to its high occupancy rate and the lack of significant discounts on home sales.
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.