Location: Allamakee County, IA | Metro: Allamakee County, IA
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 | $690 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $272,950 | 0.34% | F |
| 3BR | $1,280 | $361,801 | 0.35% | F |
U.S. Census Bureau data (2024)
ZIP 52146, located in Harpers Ferry, IA, within the Allamakee County, IA metro area, serves as a cash-flow anchor in a Section 8 portfolio strategy. This designation is based on the significant spread between the Fair Market Rent (FMR) and the actual market rental rates, which benefits landlords participating in the Section 8 program.
The FMR for the metro area in fiscal year 2026 is set at $960. However, the current market rental rate stands at $643, indicating a substantial gap that landlords can leverage to ensure steady cash flow. The median home value in this ZIP code is $284,728, which further underscores the potential for stable returns given the lower market rental rates compared to the FMR.
This ZIP code does not present an opportunity for significant appreciation as there is no notable percentage for price-cut share or days on market (DOM). These metrics typically indicate a seller's market where property values are likely to rise, but in ZIP 52146, they remain at N/A%, suggesting a balanced or buyer's market.
ZIP 52146 also acts as a diversifier due to its renter share of 4.3%. This low percentage means that most residents are homeowners, reducing competition for rental properties and stabilizing demand. Additionally, the median income of $61,750 ensures a consistent tenant pool capable of meeting their rental obligations, even under the subsidized rates provided by the Section 8 program.
In conclusion, ZIP 52146 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. Landlords can rely on the guaranteed rental income provided by the Section 8 program, which exceeds local market rates, ensuring profitability. The low renter share and stable median income contribute to the diversification of investment risks, making this ZIP code a reliable component of any Section 8-focused real estate portfolio.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.