Location: Wapello County, IA | Metro: Davis County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 52552 in the upcoming fiscal year 2026 is set at $970. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. It is important to note that this amount is not the rent you will charge your tenants directly; rather, it is the maximum amount that the government will pay toward the rent on behalf of eligible low-income families.
To put this into perspective, the average rent for ZIP 52552, according to recent Census American Community Survey (ACS) data, is $847. This means that the FMR for Section 8 participants is slightly higher than the average market rent, providing a reasonable compensation for landlords.
The demand for rental properties in this area is substantial, with 12.8% of the population being renters. This indicates a steady need for housing options, particularly those affordable through programs like Section 8. Given the population's reliance on rentals, there is a good chance that your property will be occupied.
When considering acquiring a new rental property in ZIP 52552, the median home value is around $255,379. This figure can help you estimate the potential costs involved in purchasing a property for Section 8 use, including any necessary renovations or upgrades to meet the program's requirements.
Before deciding to participate in the Section 8 program with a rental in ZIP 52552, ensure that the property meets all the required inspection criteria. The Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD) must be satisfied to qualify for the program. This step is crucial to avoid any delays or complications in the process.
In summary, the FMR of $970 provides a solid payment standard for landlords, while the local average rent of $847 suggests a competitive rate. With a renter share of 12.8%, there is a strong demand for rental units, and the median home value of $255,379 gives a realistic expectation of the investment needed. Verify that your property meets HQS standards to ensure smooth participation in the Section 8 program.
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.