Location: Dubuque, IA | Metro: Dubuque, IA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,630 |
| 5 Bedrooms | $1,891 |
| 6 Bedrooms | $2,118 |
| 7 Bedrooms | $2,287 |
| 8 Bedrooms | $2,401 |
U.S. Census Bureau data (2024)
The investment landscape in ZIP code 52056 presents several challenges for landlords considering participation in the Section 8 program. Tenant turnover is a significant concern due to the disparity between the local market rent and the Fair Market Rent (FMR) set at $940 for FY 2024. This difference can lead to higher churn rates as tenants seek better deals, impacting the stability of rental income.
Vacancy exposure is another risk factor. With no data available on the number of days on market (DOM), it's difficult to predict how quickly properties might be rented out. However, the typical home value of $234,013 suggests a relatively stable housing market, but the median income of $83,750 indicates that many residents may struggle to afford market rents, increasing the likelihood of vacancies if not participating in the Section 8 program.
Deferred maintenance is also a critical issue. The median income figure implies that many homeowners may delay necessary repairs and improvements due to financial constraints. This can affect the overall condition of properties and increase the costs associated with maintaining them up to the standards required by the Section 8 program.
Despite these risks, the 3.1% renter share in ZIP 52056 points towards a high concentration of renters, which typically correlates with a higher demand for Section 8 vouchers. This demand can provide a steady stream of qualified tenants who are committed to paying their portion of the rent on time, reducing the financial burden on landlords.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.