Location: Davenport-Moline-Rock Island, IA | Metro: Davenport-Moline-Rock Island, IA-IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
The Section 8 housing analysis for ZIP code 52808 is centered around the disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $980. However, the market rent data is currently unavailable, which makes it challenging to provide a precise comparison. In the absence of market rent figures, we can infer that if the market rent exceeds the FMR, landlords would be subsidizing the difference for voucher tenants, which could impact profitability.
In the scenario where the FMR surpasses the market rent, landlords can benefit from the Section 8 program by attracting tenants who can afford the rent through government assistance. This makes the area a yield play, as the guaranteed income from the vouchers can stabilize cash flow and reduce vacancy rates. The program ensures timely payments, which can be particularly advantageous in an environment with a high percentage of renters and lower median home values.
Unfortunately, the exact percentage of renters and the median home value for Unknown, IA, are also not available. Without these figures, it's difficult to fully contextualize the financial landscape for landlords and investors. Nonetheless, the FMR of $980 serves as a benchmark for rental properties participating in the Section 8 program, ensuring that low-income families can find affordable housing options.
The median income for the area is also unspecified, which is crucial for understanding the economic profile of potential voucher holders. Typically, the income eligibility for Section 8 is tied to local median incomes, and without this data point, we cannot assess how many residents might qualify for assistance.
To summarize, while the complete picture is obscured by missing market data, the FMR of $980 provides a clear guideline for landlords considering participation in the Section 8 program. The decision should be made with careful consideration of the local rental market conditions and the broader economic context of Unknown, IA.
Data Sources: FMR data from HUD (2027).
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.