Section 8 Fair Market Rent (FMR) for ZIP 52333 - 2027

Location: Cedar County, IA | Metro: Cedar Rapids, IA HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,020
1 Bedroom	$1,090
2 Bedrooms	$1,280
3 Bedrooms	$1,770
4 Bedrooms	$2,130
5 Bedrooms	$2,471
6 Bedrooms	$2,768
7 Bedrooms	$2,989
8 Bedrooms	$3,138

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

7,295

Median Household Income

$118,721

Housing Units

2,866

Renter Percentage

13.4%

Occupancy Rate

96.0%

Renter Occupied

368

Housing Authorities Serving ZIP 52333

Iowa City Housing Authority (Iowa City, IA) - 1,431 Section 8 vouchers
Lone Tree Housing Commission (Lone Tree, IA)

Solon, IA, located in ZIP code 52333, is a small town with a growing appeal for both residents and investors. The town offers a blend of rural charm and suburban convenience, making it an attractive location for those seeking a quieter lifestyle without sacrificing access to amenities.

The Fair Market Rent (FMR) for ZIP 52333 in fiscal year 2024 is set at $1,020, providing a benchmark for rental pricing that landlords can use to ensure their properties remain competitive and profitable.
The market rent, according to the latest Census ACS data, stands at $1,185. This figure indicates that there is a slight premium over the FMR, suggesting a healthy demand for rental properties in Solon.
The median home value in Solon is $446,820, reflecting the overall stability and desirability of the housing market. This value can be a positive indicator for property appreciation over time.
Renters make up 13.4% of the population, which is relatively low compared to national averages but still significant enough to support a niche rental market. Landlords should consider targeting this segment with well-maintained, affordable properties.
The median household income in Solon is $118,721, indicating a robust local economy capable of supporting higher rents and potentially attracting tenants who are willing to pay more for quality living spaces.
Unfortunately, the data on days on market (DOM) for rental listings is not available, which could have provided insight into how quickly properties are rented out and the overall competition in the rental market.

The combination of a stable median home value and a healthy median income suggests that Solon has a strong foundation for real estate investment. Despite the low renter share, the premium over FMR indicates that there is a market for well-priced rentals. Investors should focus on maintaining high standards of property management to attract the income-eligible tenants willing to pay above the FMR. While the lack of DOM data leaves some questions unanswered, the other indicators provide a solid basis for informed investment decisions in Solon's rental market.

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.