Location: Van Buren County, IA | Metro: Jefferson 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 | $750 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,200 | $181,219 | 0.66% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 52535, set at $940 for the metro area fiscal year 2026, represents the maximum amount that a landlord can charge for a Section 8 rental. This is known as the payment standard and it does not directly determine your rent but sets an upper limit for what the Housing Choice Voucher program will pay.
While the local median rent for ZIP 52535 is currently not available, we can still assess the viability of a Section 8 rental property based on the FMR. The FMR of $940 suggests that the market rent for similar properties should be around or below this figure to ensure eligibility for the voucher program. Landlords must understand that this is the benchmark against which rents are evaluated.
In ZIP 52535, the housing market shows a strong demand from renters, with 17.8% of the population being renters. This indicates a significant portion of potential tenants who might rely on Section 8 vouchers to afford housing. However, it's crucial to note that the FMR is not necessarily reflective of the average local rent; it's a guideline used by the government to manage voucher payments.
If you're looking to acquire a rental property in this ZIP code, the median home value stands at $176,256. This gives you an idea of the typical price range for homes, helping you to make informed decisions about the purchase price of a potential Section 8 rental unit. Keep in mind that the actual cost of the property can vary widely depending on its condition, location, and other factors.
Before proceeding with a Section 8 rental, one key factor to verify is the physical condition of the property. The Housing Quality Standards (HQS) set by the U.S. Department of Housing and Urban Development must be met. These standards cover safety, health, and structural issues, ensuring that the property is habitable and up to code. A thorough inspection and any necessary repairs can prevent delays in securing a tenant through the voucher program.
In summary, the FMR of $940 in ZIP 52535 serves as a critical benchmark for setting rents when participating in the Section 8 program. With 17.8% of residents being renters, there is a notable demand for affordable housing. Acquiring a property at around $176,256 is feasible, but remember to confirm that the property meets HQS requirements before making a final decision.
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.