Location: Delaware County, IA | Metro: Delaware County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,140 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 52223, which encompasses Delhi, IA, and the broader Delaware County area, reveals a favorable cash flow scenario for properties rented at the HUD Fair Market Rent (FMR) rate of $930 per month for FY 2026. The Census American Community Survey (ACS) reports an average market rent of $880, indicating that voucher tenants will cashflow at the FMR rate, providing a positive margin of $50 per unit.
To derive the rent-to-price ratio, we use the median home value of $247,326. This yields a ratio of approximately 4.5%, calculated by dividing the annual FMR ($11,160) by the median home value. A low rent-to-price ratio suggests that buying homes in this area could be more financially beneficial than renting them out, especially considering the positive cash flow from Section 8 vouchers.
The data does not provide specific figures for the median Days on Market (DOM) or the percentage of price cuts. However, these metrics typically influence the rent-versus-buy decision. In the absence of such data, the primary focus remains on the financial benefits derived from the cash flow and the stability provided by Section 8 tenancy.
The strongest investor angle in ZIP 52223 is cashflow. With a positive margin between the FMR and market rent, investors can expect steady income from their rental properties without the need for premium units. Additionally, the low rent-to-price ratio supports the long-term financial viability of purchasing homes in this area, making it an attractive option for both cashflow and potential appreciation.
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.