Location: Keokuk County, IA | Metro: Washington 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 | $690 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,170 |
| 4 Bedrooms | $1,240 |
| 5 Bedrooms | $1,438 |
| 6 Bedrooms | $1,611 |
| 7 Bedrooms | $1,740 |
| 8 Bedrooms | $1,827 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $148,857 | 0.62% | D |
| 3BR | $1,170 | $205,544 | 0.57% | F |
| 4BR | $1,240 | $263,088 | 0.47% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP 52248, located in Keota, Iowa, within the Keokuk County metro area, reveals several key points that are crucial for landlords and small-portfolio investors.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for ZIP 52248 in fiscal year 2024 is set at $860. In contrast, the market rent as reported by the Census ACS stands at $787. This indicates that landlords may be able to charge slightly above the market rate, but it's important to note that the FMR is designed to reflect what is reasonable for low-income households, and charging the FMR might limit the pool of potential tenants to those who qualify for assistance programs.
Moving on to the affordability of acquisition, the median home value in ZIP 52248 is $184,497. Unfortunately, the data on days on market (DOM) and the percentage of homes requiring price cuts are not available. However, the median home value suggests that property acquisition is relatively affordable compared to many urban areas, making it an attractive option for investors looking to enter the market without substantial upfront capital.
The third consideration is tenant demand. With a total population of 1,675, the renter share is 10.2%. This means there are approximately 171 renters in the area. While the number of potential tenants is limited, the relatively low median home value could indicate that rental properties are priced competitively, potentially attracting tenants from neighboring areas.
In summary, while the rent math suggests that landlords can charge slightly above the market rate, they should be cautious about pricing too close to the FMR if they wish to attract a broader range of tenants. Acquisition costs are affordable, with a median home value of $184,497, which is beneficial for investors. Tenant demand is modest due to the small population size and low renter share, but competitive pricing could still draw interest. Overall, ZIP 52248 presents a balanced opportunity for landlords and small-portfolio investors, with manageable risks and potential rewards.
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.