Location: Wapello County, IA | Metro: Davis 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 | $820 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $171,063 | 0.64% | D |
| 3BR | $1,310 | $238,114 | 0.55% | F |
| 4BR | $1,480 | $308,489 | 0.48% | F |
U.S. Census Bureau data (2024)
The dynamics of ZIP code 52537, Bloomfield, IA, reveal a market in motion. With a Fair Market Rent (FMR) set at $1,060 for the fiscal year 2026, it indicates that the government's benchmark for rental affordability is higher than the current market rent of $889. This suggests that the market rent could be poised to rise, aligning more closely with the FMR.
The low price-cut share of 0.1% points to a competitive rental environment where landlords have little incentive to lower their rates. This could mean that demand is relatively stable or slightly outpacing supply, keeping rents steady or rising. The median home value of $229,617 reflects the overall property value in the area, which is an important consideration for potential homeowners and investors alike.
A significant 18.6% of the population in Bloomfield, IA, are renters. This percentage can indicate ongoing long-term housing pressure as a substantial portion of the community relies on rental properties rather than owning homes. High renter shares often suggest a need for more affordable housing options, which can create opportunities for landlords and small-portfolio investors who can offer competitive rental prices and amenities.
In summary, Bloomfield, IA, presents a market where demand appears to be keeping pace with or possibly outpacing supply, given the low rate of price cuts and the gap between FMR and market rent. The high renter share highlights a persistent need for rental properties, making it a viable investment location for those looking to capitalize on the local housing dynamics.
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.