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 | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,220 |
| 5 Bedrooms | $1,415 |
| 6 Bedrooms | $1,585 |
| 7 Bedrooms | $1,712 |
| 8 Bedrooms | $1,798 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $186,092 | 0.5% | F |
| 3BR | $1,200 | $237,840 | 0.5% | F |
| 4BR | $1,220 | $307,387 | 0.4% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 52315 does not align favorably with the financial goals of landlords and small-portfolio investors. The Fair Market Rent (FMR) set at $860 for the fiscal year 2024 contrasts sharply with the actual market rent reported by the Census ACS, which stands at $642. This discrepancy indicates that landlords may struggle to meet the FMR without facing significant vacancy rates, as tenants might prefer the lower market rate.
Acquisition in this area is relatively affordable. With a median home value of $259,594, purchasing properties should be within reach for many investors. However, the lack of data on days on market (DOM) and the percentage of homes requiring price cuts to sell suggests that there might be inefficiencies in the local real estate market. This could mean longer holding periods before a sale or reduced resale values if adjustments are necessary.
Tenant demand is limited in ZIP 52315. The area has a total population of 1,339, with only 12.0% of residents identified as renters. This small pool of potential tenants could make it challenging to find enough qualified applicants to fill rental units, particularly given the low market rent compared to the FMR.
Verdict: ZIP 52315 presents a challenging investment environment. The gap between the FMR and the market rent suggests difficulty in achieving desired rental income levels. While property acquisition costs are reasonable, the limited tenant demand and potentially inefficient market conditions indicate that this area may not be ideal for landlords and small-portfolio investors seeking consistent, high returns.
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.