Location: Benton County, IA | Metro: Cedar Rapids, IA HUD Metro FMR Area
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 | $790 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,140 | $252,340 | 0.45% | F |
| 3BR | $1,560 | $306,218 | 0.51% | F |
| 4BR | $1,850 | $367,290 | 0.5% | F |
| 5BR | $2,146 | $481,660 | 0.45% | F |
U.S. Census Bureau data (2024)
The market snapshot for ZIP 52213, Center Point, IA, reveals a dynamic housing environment where the rental market stands at the forefront. The Fair Market Rent (FMR) for the area, set at $1140 for fiscal year 2024, significantly exceeds the average market rent of $776 reported by the Census Bureau's American Community Survey (ACS). This disparity suggests that there is a strong presence of subsidized housing in the form of Section 8 vouchers, which can drive up the average rent level due to the higher payment standards.
The median home value in Center Point is $316,730. Given the lack of specific data on the percentage of homes that are listed at a discount (price-cut share) and the days on the market (DOM), it is challenging to definitively state whether the supply outpaces demand or vice versa. However, the high FMR relative to the market rent implies that there might be a significant portion of the housing stock that is either rented through government assistance programs or held at higher rents, potentially indicating a tight rental market where demand could be outpacing supply.
The 15.4% renter share in the area provides insight into the long-term housing pressures faced by residents. A higher proportion of renters typically signals a greater sensitivity to economic fluctuations and housing availability. In Center Point, this figure suggests that while the majority of residents own their homes, a notable minority rely on renting. This could indicate a persistent need for affordable housing options, as homeownership rates are relatively high, possibly due to the area's median home value being moderate compared to larger metropolitan areas.
The interplay between the rental market and homeownership in Center Point presents an interesting scenario for landlords and small-portfolio investors. The rental market appears robust, driven by the higher FMR, which could offer stable income streams. However, the median home value also suggests that there is a viable opportunity for investment in the single-family home market, particularly if targeting first-time buyers or those seeking affordable housing options.
In summary, ZIP 52213 exhibits characteristics of a balanced but evolving market. The rental sector shows signs of strength, likely due to the influence of Section 8 vouchers, while the homeownership segment remains accessible with a median home value that is neither excessively high nor low. These dynamics create a multifaceted investment landscape, offering opportunities both in rental properties and in the sale of homes.
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.