Location: Keokuk County, IA | Metro: Keokuk County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 52335 in the metro area for fiscal year 2026 is set at $920. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. It does not mean that tenants will pay $920 per month; rather, it's the maximum amount the government will reimburse landlords for renting a unit under this program.
To put this into perspective, the average rent in ZIP 52335, according to recent Census American Community Survey (ACS) data, is $839. This suggests that the FMR is slightly above the local average, which could be beneficial for landlords looking to offset some of the costs associated with maintaining and managing rental properties.
The FMR is calculated based on the local market conditions, ensuring that landlords receive a fair rate. However, it's important to note that the actual rent you charge can be higher than the FMR, but the tenant's voucher will only cover up to $920. The remaining balance must be paid by the tenant directly.
In ZIP 52335, approximately 8.5% of the population are renters. This indicates a steady demand for rental housing, particularly among those who qualify for the Section 8 program. With a significant portion of residents relying on rental assistance, there is a reliable pool of potential tenants who can benefit from your participation in the program.
When considering the acquisition of a property in ZIP 52335, keep in mind that the median home value is around $173,218. This price point might make it an attractive option for new landlords or small-portfolio investors, especially if they are looking to enter the Section 8 market with a manageable investment.
Before deciding to participate in the Section 8 program with a rental property in ZIP 52335, verify that the property meets all the necessary requirements for the program. These include passing a housing quality standards (HQS) inspection and adhering to fair housing laws. This step is crucial to ensure that you receive the reimbursement without any delays or issues.
Participating in the Section 8 program can provide a stable income stream and access to a consistent pool of tenants. However, it also requires adherence to specific guidelines and regulations. Understanding these upfront will help you manage expectations and prepare effectively for the responsibilities that come with 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.