Location: Poweshiek County, IA | Metro: Iowa County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,670 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
17.5% of the residents in ZIP code 52221 are renters, indicating a significant demand for rental properties in the area. The $206,770 median home value reflects the overall housing market's stability, while the $86,473 median income suggests that many households may rely on assistance programs such as Section 8 to afford living in this region. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $930, which is notably lower than the $1,667 market rent reported by the Census ACS. This discrepancy highlights the potential gap between what landlords might charge and what tenants can afford through the Section 8 program.
The data does not provide specific days on market (DOM) or percentage of price-cut shares for the area, but we can infer that competition among landlords could be fierce due to the high market rent compared to the FMR. Landlords should consider the benefits of participating in the Section 8 program, which includes guaranteed rent payments and a steady stream of income, even if it means accepting slightly lower rents. Given the median income and the FMR, the Section 8 program appears to be a viable option for many tenants in 52221, making it a strategic choice for landlords looking to fill vacancies without the risk of non-payment.
For small-portfolio investors, the decision to accept Section 8 tenants should be weighed against the local market dynamics. With the $930 FMR being significantly below the $1,667 market rent, there is an opportunity to serve a segment of the population that might otherwise struggle to find suitable housing. However, investors must also consider the administrative requirements and the potential for longer-term leases, which can affect their portfolio management strategies.
Given the $86,473 median income and the $930 FMR, the Section 8 program in ZIP 52221 offers a stable rental income source for landlords willing to participate. It is a win-win scenario where tenants receive affordable housing and landlords secure reliable rent payments. Therefore, the Section 8 verdict for ZIP 52221 is positive, especially for those targeting the needs of low-income families and individuals.
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.