Location: Keokuk County, IA | Metro: Keokuk County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,260 |
| 5 Bedrooms | $1,462 |
| 6 Bedrooms | $1,637 |
| 7 Bedrooms | $1,768 |
| 8 Bedrooms | $1,856 |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $920 for ZIP 52568 can cover the mortgage on an average-priced home. The median listing price for homes in ZIP 52568 is currently $120,000, according to recent real estate data. While this figure does not directly correlate with the mortgage payment, it's important to note that homes priced below the median could potentially be financed with a mortgage that the FMR could cover. However, the data does not provide specific mortgage rates or terms, which are necessary to calculate exact payments.
The demand for rental properties in ZIP 52568 stands at 18.2%, which some investors might find concerning. Yet, the rental market in ZIP 52568 is relatively stable, with 54 available apartments listed on Trulia, indicating a reasonable supply and demand balance. This percentage suggests that while not all units are rented, there is still a significant portion of the population seeking rental properties, which supports the viability of the rental market.
Regarding the use of housing vouchers, ZIP 52568 has seen a steady trend in voucher usage. However, the specific data on whether these vouchers will keep pace with the market rents is not readily available. The lack of precise information makes it difficult to conclusively state how voucher values will align with future rent increases. Investors should monitor local housing authority announcements and trends to stay informed on this aspect.
In summary, while the FMR of $920 may cover the mortgage on less expensive homes, the overall median home price in ZIP 52568 is $120,000. With 18.2% of the market renting, there is a sufficient demand, though it is not overwhelming. Lastly, the impact of housing vouchers on covering market rents remains uncertain due to a lack of detailed data.
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.