Location: Buchanan County, IA | Metro: Cedar Rapids, 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 | $740 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,050 | $252,519 | 0.42% | F |
| 3BR | $1,430 | $329,312 | 0.43% | F |
| 4BR | $1,690 | $364,924 | 0.46% | F |
U.S. Census Bureau data (2024)
The median household income in ZIP code 52352, which includes Walker, Iowa, stands at $92,321. At first glance, this figure suggests a relatively strong economic base for the area. However, the market rent rate, according to Census ACS data, is $864 per month. This means that even though incomes are decent, the cost of housing can be a significant portion of a household's budget.
When comparing the market rent rate to the federal voucher payment standard, which is set at $860 for fiscal year 2024, it becomes evident that there is little difference between the two. The market rate is only slightly higher, indicating that voucher payments can cover the majority of rental costs in this area. For households relying on vouchers, this makes finding suitable accommodation feasible without placing an undue financial burden on them.
In ZIP 52352, with a total population of 1,833 and 14.6% of residents being renters, the competition among landlords for tenants is relatively low compared to densely populated areas. However, the affordability gap, where the median income is not significantly higher than the rent rates, means that landlords must carefully consider their pricing strategies. Offering competitive rates can attract more tenants, but landlords should also ensure they cover operational costs and maintain profitability.
For landlords considering whether to accept Section 8 vouchers or focus solely on cash-paying tenants, the data points to a balanced approach. Given the closeness of the voucher payment standard to the market rate, accepting vouchers can provide a steady stream of reliable tenants. However, targeting cash-paying tenants can also be advantageous, especially if landlords can offer incentives or amenities that make their properties more attractive.
Takeaway: In ZIP 52352, landlords should be aware of the tight alignment between voucher payments and market rents. This suggests that both voucher and cash-paying tenants can be viable options. Landlords should consider offering flexible payment plans or additional perks to stand out in a market where affordability is a key concern for renters.
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.