Location: Cedar County, IA | Metro: Jones 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 | $900 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,620 |
| 5 Bedrooms | $1,879 |
| 6 Bedrooms | $2,104 |
| 7 Bedrooms | $2,272 |
| 8 Bedrooms | $2,386 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,230 | $191,663 | 0.64% | D |
| 3BR | $1,610 | $224,823 | 0.72% | D |
| 4BR | $1,620 | $285,966 | 0.57% | F |
U.S. Census Bureau data (2024)
18.5% of the residents in ZIP code 52306, Mechanicsville, IA, are renters, indicating a moderate demand for rental properties in the area. The Fair Market Rent (FMR) for Section 8 housing in Mechanicsville for fiscal year 2024 is set at $1040, which is slightly higher than the reported market rent of $933 according to the Census American Community Survey. This suggests that Section 8 payments can cover the average rental costs in the area, making it a viable option for landlords.
$217,873 is the median home value in Mechanicsville, IA, reflecting a stable housing market. However, the median income of $61,875 may limit the financial flexibility of local residents, potentially increasing their reliance on government assistance programs like Section 8. The lack of available data on days on market (DOM) and the percentage of price-cut shares does not provide insight into the speed of property sales or the necessity of reducing asking prices, but the consistent FMR and market rent figures indicate steady conditions.
The Section 8 program's payment standard of $1040 is above the current market rent of $933, ensuring landlords receive competitive rates for their properties. This makes Mechanicsville an attractive location for landlords who wish to participate in the Section 8 program, as they can expect to be compensated at or above market rates without the risk of vacancy or prolonged marketing periods.
In conclusion, the data points towards a favorable environment for Section 8 participation in Mechanicsville, IA. With a slight premium on the payment standard over market rent and a moderate renter share, landlords can secure reliable tenants and competitive rental income. Mechanicsville, IA, is a good fit for Section 8 landlords and small-portfolio investors.
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.