Section 8 Fair Market Rent (FMR) for ZIP 52344 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$670
1 Bedroom	$740
2 Bedrooms	$970
3 Bedrooms	$1,350
4 Bedrooms	$1,620
5 Bedrooms	$1,879
6 Bedrooms	$2,104
7 Bedrooms	$2,272
8 Bedrooms	$2,386

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

Median Household Income

$N/A

Housing Units

Renter Percentage

23.7%

Occupancy Rate

100.0%

Renter Occupied

The ZIP code 52344 is located in Iowa and represents a suburban area with a mix of residential homes and small businesses. This region is particularly interesting for real estate investors due to its stable population and the presence of the Section 8 Fair Market Rent (FMR) program, which provides a safety net for affordable housing.

Fair Market Rent (FMR): The FMR for ZIP 52344 in fiscal year 2024 is set at $940, indicating the maximum amount that can be charged for a two-bedroom apartment under the Section 8 program.
Renter Share: 23.7% of the households in ZIP 52344 are renters, suggesting a moderate demand for rental properties.
Median Home Value: The median home value in ZIP 52344 is currently unavailable, making it difficult to assess the typical property value without further research.
Days on Market (DOM): The average days on market for properties in this ZIP code is also not available, which means we cannot determine how quickly homes are selling or renting.
Moderate Income Levels: With the median income being unreported, it's challenging to gauge the financial health of the residents and their ability to pay higher rents.

In summary, ZIP 52344 offers a stable environment for real estate investment, especially through the lens of the Section 8 program. Given the FMR of $940, landlords can expect a reliable source of rental income for two-bedroom units. However, the lack of data on median home values, days on market, and median income introduces uncertainty. Investors should conduct thorough local market research to fill these gaps and make informed decisions about potential returns and risks. Despite these unknowns, the established Section 8 parameters provide a solid foundation for those interested in affordable housing investments.

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.