Location: Benton County, IA | Metro: Benton County, 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 | $750 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,380 | $214,163 | 0.64% | D |
U.S. Census Bureau data (2024)
The ZIP code 52229 is situated in a predominantly owner-occupied area where only 23.9% of the residents are renters. With a relatively small population of 678, it's clear that this neighborhood offers a tight-knit community feel. The median household income here stands at a robust $86,500, indicating a middle-class demographic. The median home value in the area is listed at $260,851, which reflects the overall financial stability and property appreciation potential.
Moving into the specifics of rental economics, the Fair Market Rent (FMR) for ZIP 52229 in fiscal year 2024 is set at $880. In contrast, the actual market rent, according to Census ACS data, is slightly higher at $906. This means that landlords participating in the Section 8 program can expect their rents to be closely aligned with the market rates, providing a stable income stream without the need for significant price adjustments.
Given these factors, ZIP 52229 is well-suited for hands-off voucher operators who seek steady, predictable cash flows. The modest gap between FMR and market rent suggests that there is little risk of falling behind market trends, and the stable income can be relied upon for consistent returns. However, for those interested in a more active role as value-add buyers, opportunities may be limited due to the already competitive market conditions and the relatively low percentage of renters in the area. Nonetheless, with careful selection and renovation of properties, some room for improvement might still exist.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.