Location: Winneshiek County, IA | Metro: Allamakee County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,490 |
| 5 Bedrooms | $1,728 |
| 6 Bedrooms | $1,935 |
| 7 Bedrooms | $2,090 |
| 8 Bedrooms | $2,195 |
U.S. Census Bureau data (2024)
The ZIP code 52140 is primarily a homeowner-dominated area rather than a renter-heavy zone, with only 10.5% of the population renting. This indicates that the demand for rental properties using Section 8 vouchers is likely to be lower compared to areas with higher percentages of renters. The median household income stands at $72,188, which suggests that the majority of residents can afford market rents without assistance.
Although specific market rent figures are not available, we can infer that typical rent in this area is likely to be below the Fair Market Rent (FMR) set at $970 per month for fiscal year 2026. This FMR is designed to reflect the average rent for a modest apartment in a metropolitan area and serves as a benchmark for housing affordability. Given the relatively high median income, landlords in 52140 can expect that the portion of income spent on rent is less significant than it would be in lower-income areas.
To put this into perspective, if we assume that the market rent is similar to the FMR, then a tenant receiving a voucher worth $970 would spend approximately 13.5% of their annual income on rent. This is calculated by taking the FMR ($970) and multiplying it by 12 months, resulting in an annual rent cost of $11,640. Dividing this by the median household income ($72,188) yields 16.1%, but since the voucher covers the bulk of the rent, the actual out-of-pocket expense for the tenant would be significantly lower.
The tenant profile a landlord in ZIP 52140 should expect is one who is likely to have a stable income source, given the median household income level. While there will still be tenants who rely on Section 8 vouchers due to personal financial circumstances, the overall demand for these vouchers is expected to be low. Landlords can anticipate a mix of tenants, some of whom might be using vouchers to supplement their housing costs, but most will be able to pay market rates directly.
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.