Location: Iowa County, IA | Metro: Iowa County, IA
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 | $700 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $940 | $202,186 | 0.46% | F |
| 3BR | $1,300 | $261,529 | 0.5% | F |
| 4BR | $1,570 | $322,739 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 52361, Williamsburg, IA, is primarily a renter-heavy area given that 33.7% of its population of 4,582 are renters. This indicates a significant portion of the local population relies on rental housing, which can translate into a robust demand for Section 8 vouchers.
Average market rent in Williamsburg stands at $680, which consumes approximately 11.15% of the median household income of $60,992. This suggests that typical rent is affordable relative to local incomes, making it easier for tenants to cover other living expenses while still paying rent.
In comparison to the Fair Market Rent (FMR) of $950 for the metro area, as set for FY 2026, the actual market rent of $680 in Williamsburg is significantly lower. The FMR is a benchmark used by HUD to determine the payment standards for Section 8 vouchers, among other things. It means that landlords in Williamsburg can potentially offer rents below the FMR and still attract tenants who can afford the cost, either through their own income or supplemented by Section 8 vouchers.
Given these conditions, landlords in Williamsburg should expect a tenant profile that includes individuals and families who are financially stable enough to cover their rent without being overly burdened by housing costs. These tenants would likely be seeking affordable housing options, and some may require assistance through Section 8 vouchers to meet their housing needs. Landlords should prepare to work with tenants whose total income (including voucher assistance) allows them to pay the market rent but may need help managing their finances due to the relatively high percentage of income dedicated to housing compared to the national average.
To conclude, Williamsburg, IA, offers a mix of affordability and demand suitable for landlords willing to accept Section 8 tenants. The market rent is comfortably below the FMR, providing a margin for landlords to operate profitably while offering tenants a more manageable financial situation.
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.