Location: Howard County, IA | Metro: Howard County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
U.S. Census Bureau data (2024)
The ZIP code 52134 is situated in a predominantly residential area with a relatively small population of 223 individuals. The area has a low percentage of renters at 14.9%, indicating that homeownership is more prevalent among residents. The median household income stands at $63,125, which suggests a middle-class community. The median home value in the region is $161,927, reflecting affordable housing options for both owners and potential renters.
Moving into the realm of rental economics, the Fair Market Rent (FMR) for ZIP 52134 as determined by HUD for the metro area in fiscal year 2026 is set at $1,000. This figure contrasts sharply with the actual market rent, which according to the Census Bureau's American Community Survey (ACS), averages around $579. This discrepancy highlights a significant opportunity for landlords and investors who can leverage the higher voucher rates to increase their rental income.
Given these factors, ZIP 52134 could be an attractive option for both hands-off voucher operators and hands-on value-add buyers. For those preferring a hands-off approach, the higher FMR compared to the market rent means that tenants with Section 8 vouchers can cover a substantial portion of the rental costs without much landlord intervention. On the other hand, for hands-on investors looking to add value, there is room to improve properties and charge closer to the FMR rate, thereby maximizing returns. However, the limited number of renters might require careful consideration of the local demand for rental properties.
To conclude, ZIP 52134 presents a balanced scenario where the combination of moderate income levels and a favorable FMR-to-market-rent ratio creates opportunities for both passive and active investors in the real estate market. Whether you choose to operate hands-off or engage in value-add strategies, the economic landscape supports profitable investment in rental properties.
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.