Location: Louisa County, IA | Metro: Henry 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 | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,230 |
| 5 Bedrooms | $1,427 |
| 6 Bedrooms | $1,598 |
| 7 Bedrooms | $1,726 |
| 8 Bedrooms | $1,812 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $127,364 | 0.73% | D |
| 3BR | $1,210 | $178,359 | 0.68% | D |
| 4BR | $1,230 | $214,763 | 0.57% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 52659 in Iowa, as determined by the U.S. Department of Housing and Urban Development for fiscal year 2026, is set at $920. This figure represents the payment standard for landlords participating in the Section 8 program, not the rent you charge your tenants. It's the maximum amount that the government will pay on behalf of eligible tenants.
To put this into perspective, the average rent for the area, according to the Census Bureau's American Community Survey, is $702. This means that if you're participating in Section 8, you'll be receiving a higher subsidy from the government compared to the typical market rate.
The renter share in ZIP 52659 is 23.8%, indicating that nearly a quarter of the population rents their homes. This suggests a steady demand for rental properties, especially those that can accommodate low-income families through programs like Section 8.
If you're considering acquiring a property for a Section 8 rental, the median home value in the area is around $168,686. This is an important number to consider when evaluating the potential return on investment and the initial capital required to purchase a property.
Before making a decision to enter the Section 8 market, it's crucial to verify that the property meets all the necessary requirements for the program. This includes ensuring the unit is up to code, safe, and habitable, as inspections are mandatory. Failure to meet these standards can result in reduced payments or even disqualification from the program.
In summary, the FMR of $920 provides a guaranteed income floor, while the local average rent of $702 shows a favorable subsidy. With a 23.8% renter share, there's a consistent demand for rental units. The median home value of $168,686 gives you a benchmark for property costs. But remember, the key to success is ensuring your property complies with all Section 8 regulations.
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.