Location: Keokuk County, IA | Metro: Keokuk County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,320 |
| 5 Bedrooms | $1,531 |
| 6 Bedrooms | $1,715 |
| 7 Bedrooms | $1,852 |
| 8 Bedrooms | $1,945 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 52562, set at $970 for the metro area fiscal year 2026, represents the maximum amount that a landlord can charge for a Section 8 rental. This is not the actual rent you will receive but rather a payment standard used by the Housing Choice Voucher Program to determine the maximum rental assistance payment.
The $970 FMR is a critical figure because it sets the upper limit on the rent you can charge for a Section 8 tenant. However, this does not necessarily mean your property's market rent will be the same. In ZIP 52562, the local rent is currently listed as N/A, which suggests there might be limited data available on average market rents. Therefore, you should research comparable rental properties in the area to understand if the $970 FMR aligns with typical market rates.
The 4.2% renter share indicates that approximately 4.2% of the population in ZIP 52562 is seeking rental housing. This percentage can help gauge the potential demand for your rental property among those eligible for Section 8 assistance. If the local rental market is tight, this could mean steady occupancy rates once you secure a tenant.
Regarding acquisition costs, the data shows N/A, which implies there is no specific information on recent property purchase prices in ZIP 52562. To make an informed decision, you'll need to look into recent sales data for similar properties in the area. This will give you a clearer picture of how much you might expect to spend to acquire a rental property suitable for Section 8 tenants.
Before finalizing your decision to enter the Section 8 rental market in ZIP 52562, ensure your property meets the required quality standards as set by HUD. This includes passing inspections for health and safety, which are non-negotiable for any property participating in the program. Compliance with these standards will not only help you avoid penalties but also attract reliable tenants.
In summary, while the $970 FMR provides a clear guideline for the maximum rent assistance payment, understanding the local rental market and the condition of your property are crucial steps to take before proceeding. This ensures you are making a sound investment that aligns with both your financial goals and the needs of potential Section 8 tenants.
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.