Location: Lee County, IA | Metro: Lee County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
144,810 residents of ZIP 52624 can expect a median home value that reflects the area's affordability, yet it's the rental market that truly stands out for investors. 8.0% of the population are renters, indicating a significant portion of the market dedicated to those seeking housing assistance. 1,170 is the Fair Market Rent (FMR) set for the metro area in fiscal year 2026, which is the benchmark for determining eligibility for Section 8 housing vouchers. This figure is crucial for landlords and small-portfolio investors looking to participate in the program, as it dictates the maximum allowable rent for subsidized units. While the market rent is listed as N/A, suggesting limited data availability, the FMR provides a reliable indicator of what tenants might be able to afford with assistance. 109,861 is the median income for the area, which is below the national average, further highlighting the need for affordable housing solutions such as Section 8. The lack of specific data on days on market (DOM) and the percentage of homes with price cuts (N/A) suggests a stable market with little fluctuation, beneficial for long-term investment strategies. For those considering Section 8 participation, the numbers paint a clear picture: the demand for affordable rentals is high, and the FMR provides a solid basis for pricing units. Given the median income and the proportion of renters, landlords in ZIP 52624 should find the Section 8 program a viable and attractive option for maintaining occupancy rates and ensuring steady cash flow.
Section 8 Verdict: Suitable for landlords and small-portfolio investors seeking stable, affordable rental markets.
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.