Location: Louisa County, IA | Metro: Des Moines County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $670 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
U.S. Census Bureau data (2024)
ZIP code 52644, located within the Louisa County, IA metro area, presents a unique profile compared to the typical ZIP codes in the county. Its Fair Market Rent (FMR) for fiscal year 2026 stands at $970, which is notably higher than the market rent figure of $618. This suggests that the area might be receiving a significant subsidy through the Section 8 program, making it attractive for landlords who can benefit from the higher rental assistance payments.
The median home value in ZIP 52644 is $200,485, which could be considered average or slightly above average for the region, indicating a middle-class neighborhood. However, the renter share of 17.7% is relatively low, suggesting that the majority of residents own their homes rather than renting. This contrasts with areas where a high percentage of renters might indicate a greater reliance on rental assistance programs like Section 8.
To determine if ZIP 52644 is a value pocket, mid-tier neighborhood, or a premium sub-market within the Louisa County metro, we must consider the interplay between FMR, market rent, home values, and renter share. The disparity between the FMR and market rent, with the former being significantly higher, points towards a potential value pocket. Landlords can capitalize on the higher subsidies while maintaining lower market rents, thereby enhancing their profitability.
However, the relatively low renter share means that the number of tenants potentially eligible for Section 8 assistance is limited. This could make the ZIP code less appealing to landlords specifically targeting Section 8 tenants. In contrast, a high renter share combined with below-metro home values often signifies a sweet spot for Section 8 investments, but this is not the case here.
In summary, ZIP 52644 appears to be a mid-tier neighborhood within the Louisa County metro. It offers some advantages due to the higher FMR, but the lower renter share reduces its attractiveness as a dedicated Section 8 investment. Landlords should consider these factors when deciding to invest in this ZIP code.
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.