Location: Lee County, IA | Metro: Lee 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 | $660 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $950 | $145,696 | 0.65% | D |
| 3BR | $1,260 | $214,716 | 0.59% | F |
| 4BR | $1,410 | $224,115 | 0.63% | D |
U.S. Census Bureau data (2024)
The ZIP code 52639, located in Keokuk, Iowa, presents a market where dynamics are shifting but remain somewhat balanced. The Fair Market Rent (FMR) stands at $920 for the fiscal year 2026, indicating a higher rental benchmark set by HUD for the metro area. However, the actual market rent, as reported by the Census American Community Survey (ACS), is lower at $800. This suggests that while there's an expectation for rental values to rise, current market conditions have not yet caught up to these projections.
The median home value in the area is $181,289, which reflects a relatively affordable market for homeownership. The lack of specific data on price-cut shares and days on market (DOM) means we cannot conclusively state whether supply is currently outpacing demand or vice versa. However, the difference between the FMR and market rent could imply a slight imbalance where demand is still adjusting to the perceived value of rentals.
The 7.8% renter share of the population is notably low. This statistic indicates that a majority of residents prefer or can afford homeownership over renting. While this might suggest less immediate pressure on the rental market, it also points to a potential long-term housing pressure. As economic conditions change, and if the trend towards homeownership reverses, the rental market could face increased demand, especially if new construction or conversions to rental units do not keep pace with any such shift.
In summary, ZIP 52639 appears to be a market where the rental sector is expected to grow, as indicated by the higher FMR, but current rents reflect a more cautious reality. The low renter share hints at a preference for homeownership, which could shift over time, creating new dynamics in both the rental and home sales markets.
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.