Location: Lee County, IA | Metro: Lee County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The ZIP code 52657 presents a dynamic rental market with a federally determined Fair Market Rent (FMR) of $920 for fiscal year 2026. This figure sets a benchmark for rental properties within the area, indicating the minimum acceptable rent for subsidized housing programs. However, the absence of current market rent data suggests that the local rental market might not be as active or well-documented compared to larger metropolitan areas.
Absent data on price-cut shares and days on market (DOM) implies a lack of significant discounting activity among landlords, which could mean that the rental market is stable or that there's limited information available regarding property turnover rates. The median home value data being unavailable points towards a smaller sample size or less frequent updates in residential property records, potentially due to the area's rural nature or lower population density.
The 2.9% renter share is particularly noteworthy. This low percentage indicates that the majority of residents in ZIP 52657 own their homes rather than renting. Such a high owner-occupancy rate can suggest a community with deep-rooted ties and possibly long-term stability. Conversely, it also means that there is a smaller pool of renters, which could create long-term housing pressure as the demand for rentals remains relatively constant despite the low share of renters. This dynamic can lead to a situation where rental properties are highly sought after, especially if they meet certain criteria such as affordability or proximity to key amenities.
In a market where the supply of rental units is limited, landlords can maintain higher rents relative to the FMR without significantly impacting occupancy rates. The low renter share also suggests that any increase in rental demand could rapidly push up prices, as the existing supply would be quickly exhausted. Landlords and small-portfolio investors should consider these factors when setting rents or deciding whether to convert some units into rentals, given the potential for steady demand and relatively stable occupancy.
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.