Location: Winneshiek County, IA | Metro: Winneshiek County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,220 |
| 5 Bedrooms | $1,415 |
| 6 Bedrooms | $1,585 |
| 7 Bedrooms | $1,712 |
| 8 Bedrooms | $1,798 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 52165 are straightforward. The SAFMR (Standard Amount for Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2026 is set at $920. This figure represents the maximum amount that a housing voucher can cover for rent in this area. However, the local market rent for a similar unit, according to the Census ACS (American Community Survey), is considerably lower at $655.
A landlord participating in the Section 8 program should understand that the total reimbursement they receive includes both the tenant's portion of the rent and any utility allowances. The tenant's portion is typically 30% of their income. If we assume an average income for a participant, let's say $1,500 per month, then the tenant would pay 30% of that, which is $450. The remaining $470 would come from the voucher program, assuming the local market rent is at the average of $655.
The utility allowance varies but is usually around $200-$300 per month. For simplicity, let's use an average utility allowance of $250. This means the total reimbursement a landlord would receive for a two-bedroom unit would be the tenant's contribution of $450 plus the utility allowance of $250, totaling $700.
This analysis reveals that for a two-bedroom apartment in ZIP 52165, landlords will see a reimbursement gap. The local market rent is $655, but the actual reimbursement is $700. Therefore, there is a surplus of $45 per month over the local market rent. However, if the landlord charges the full SAFMR rate of $920, the reimbursement gap would be $220 per month, meaning the landlord would need to cover this shortfall themselves.
In summary, landlords in ZIP 52615 who choose to participate in the Section 8 program should be aware of the reimbursement structure and the potential for either a surplus or a gap depending on the rent charged. Given the local market conditions, setting the rent closer to the average market rate will result in a smaller gap or even a slight surplus.
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.