Location: Cedar Rapids, 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 | $710 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $401,151 | 0.25% | F |
| 3BR | $1,400 | $400,550 | 0.35% | F |
| 4BR | $1,680 | $465,335 | 0.36% | F |
| 5BR | $1,949 | $576,305 | 0.34% | F |
U.S. Census Bureau data (2024)
The ZIP code 52411 in Cedar Rapids, Iowa, presents a dynamic rental market that is currently balanced but leans slightly towards demand outpacing supply. The Fair Market Rent (FMR) for the area, set at $1,160 for fiscal year 2024, is notably lower than the market rent of $1,227 reported by the Census American Community Survey. This indicates that the actual rental prices are above the government's benchmark, suggesting a competitive environment where landlords can charge slightly more due to tenant demand.
The low price-cut share of 0.3% further supports the idea that tenants are willing to pay the asking price without significant negotiation, which is a positive sign for landlords and small-portfolio investors. However, the lack of data on days on market (DOM) means we cannot definitively assess how quickly properties are being rented, though the low price-cut share suggests rapid turnover.
The median home value in the area stands at $442,038. While this figure alone does not indicate whether the market favors buyers or sellers, it can be inferred that with the FMR and market rent being relatively close, there might be a slight preference for renting over buying among residents, especially considering the median home value is likely higher than what many renters could afford.
A 1.8% renter share is unusually low and points to a larger trend of homeownership in the area. This high level of homeownership could imply less immediate pressure on the rental market, but it also suggests that any increase in population or economic activity could quickly translate into increased rental demand, as the stock of available rental units is smaller relative to the number of homeowners.
In summary, ZIP 52411 is a market where demand is robust enough to push rents above the FMR, yet the low price-cut share and median home value suggest a balance between supply and demand. The low renter share indicates a strong base of homeowners, which could mean steady but potentially rising rental pressures as the area continues to develop and attract new residents.
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.