Location: Davenport-Moline-Rock Island, IA | Metro: Davenport-Moline-Rock Island, IA-IL MSA
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 | $760 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $840 | $73,295 | 1.15% | B |
| 2BR | $1,030 | $143,970 | 0.72% | D |
| 3BR | $1,350 | $179,301 | 0.75% | D |
| 4BR | $1,640 | $213,401 | 0.77% | D |
| 5BR | $1,902 | $246,759 | 0.77% | D |
U.S. Census Bureau data (2024)
Davenport, IA's ZIP code 52803 is a part of a diverse urban area with a total population of 22,742 residents. Approximately one-third of the residents, or 33.3%, are renters, indicating a significant demand for rental properties. The median household income in this area is $64,543, which suggests a middle-class community where many families might rely on affordable housing options. The median home value stands at $162,458, reflecting an accessible price point for homeownership.
Turning to the rent economics, the Fair Market Rent (FMR) for ZIP 52803 in fiscal year 2024 is set at $910, while the market rent, as measured by Zillow's ZORI index, is $949. This slight gap between the FMR and the market rent implies that landlords participating in the Section 8 program can expect a modest subsidy, but they will still need to be competitive in terms of property quality and location to attract tenants.
Given these factors, ZIP 52803 is suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the relatively stable income levels and the presence of a substantial rental market make it a safe bet. They can focus on maintaining their properties to meet the standards required by the Housing Choice Voucher program without needing to actively manage tenant turnover or property improvements. On the other hand, value-add buyers can find opportunities to improve properties and potentially increase rents above the FMR, benefiting from the higher market rent. These investors should be prepared to invest in property upgrades and actively engage with the local rental market to capitalize on the difference between FMR and market rates.
In conclusion, Davenport's ZIP 52803 offers a balanced environment for Section 8 investment, providing both passive and active investors with clear paths to success based on the neighborhood's demographics and economic conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.