Location: Washington County, IA | Metro: Washington County, IA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,220 |
| 5 Bedrooms | $1,415 |
| 6 Bedrooms | $1,585 |
| 7 Bedrooms | $1,712 |
| 8 Bedrooms | $1,798 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 52359, located in Washington County, Iowa, is set at $910 for fiscal year 2024. This figure is notably higher than the market rent of $756 reported by the Census American Community Survey (ACS). As such, voucher tenants in this area will typically cashflow positively at the HUD FMR rate, meaning landlords can expect a consistent profit without needing to rely on premium units.
To further analyze the investment potential, consider the median home value in ZIP 52359, which stands at $133,372. Using the HUD FMR of $910, we can calculate a rent-to-price ratio of approximately 10.5%. This indicates that rental income represents a significant portion of the property's value, making it an attractive option for investors looking to generate steady passive income through rentals.
The dynamics between renting and buying properties in ZIP 52359 suggest a stable market, given the lack of available data on median days on market (DOM) and the percentage of price cuts. However, the absence of these figures does not detract from the overall positive cashflow potential derived from the disparity between HUD FMR and market rents.
In summary, for Section 8 investors targeting ZIP 52359, the strongest angle is cashflow. The substantial gap between the HUD FMR and the actual market rent ensures that voucher tenants will provide a reliable source of income, surpassing typical market rates and offering a solid return on investment.
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.