Location: Davenport-Moline-Rock Island, IA | Metro: Davenport-Moline-Rock Island, IA-IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 52767 in fiscal year 2024 is set at $1060. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, which is the maximum amount that the government will pay toward a tenant's rent in this area. It is important to note that this does not mean your tenants will pay exactly $1060; rather, it is the benchmark against which rent amounts are evaluated.
In ZIP 52767, there is currently no specific data available on average local rents (N/A). However, the 0.0% renter share indicates that the majority of residents in this area are homeowners, suggesting a lower demand for rental properties. Despite this, Section 8 vouchers can provide a stable source of income for landlords willing to participate in the program.
To acquire a property suitable for a Section 8 rental in this ZIP code, you might expect to spend around $259,209. This investment should be carefully considered against the potential rental income. While the FMR sets the upper limit for government payments, you can charge an additional amount directly to the tenant, typically up to 40% of their income.
Before proceeding with a Section 8 rental in ZIP 52767, it is crucial to verify that the property meets the Housing Quality Standards (HQS). These standards ensure that the unit is safe, decent, and sanitary for occupancy. Failure to meet these criteria could result in the denial of a voucher holder's request to lease your property.
Participating in the Section 8 program can offer financial stability, but it requires adherence to specific guidelines and regulations. The $1060 FMR provides a clear indication of the government's contribution towards rent, allowing you to plan your finances accordingly. With a $259,209 acquisition cost, you can estimate the potential return on investment and decide if this is the right move for your portfolio.
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.