Location: Jones County, IA | Metro: Jones County, IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 52312 in fiscal year 2024 is set at $1010. This figure represents the payment standard for landlords participating in the Section 8 program, meaning it's the maximum amount that the Housing Choice Voucher program will pay towards your tenant's rent. It's important to note that this does not represent the total rent you can charge; rather, it's the subsidy limit.
Currently, there is no specific data on the average market rent for ZIP 52312, which makes the FMR a crucial benchmark for understanding what the government will cover. However, given the 4.8% share of renters in the area, there is a significant demand for affordable housing options. This percentage indicates that nearly half of all households in the area are renters, suggesting a steady pool of potential tenants who might benefit from the voucher program.
Regarding the acquisition cost of properties in ZIP 52312, again, there is no specific data available. But understanding the local real estate market beyond just the FMR is essential. For instance, if you're looking to purchase a property, consider the typical price range and compare it against the FMR to gauge the potential profitability of your investment.
To participate in Section 8, ensure that your property meets the Housing Quality Standards (HQS) set by the local Public Housing Agency (PHA). This involves passing an inspection that checks for safety, habitability, and overall condition of the unit. Once your property is deemed compliant, you can confidently list it under the program knowing that the $1010 FMR will be the cap for the government subsidy portion of the rent.
In summary, the FMR of $1010 for ZIP 52312 is a key figure to keep in mind when setting your rent for a Section 8 property. With a strong demand from renters in the area, you can expect a steady stream of potential tenants. Just remember to verify that your property meets the necessary HQS requirements before fully committing to the program.
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.