Location: Davenport-Moline-Rock Island, IA | Metro: Davenport-Moline-Rock Island, IA-IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,660 |
| 5 Bedrooms | $1,926 |
| 6 Bedrooms | $2,157 |
| 7 Bedrooms | $2,330 |
| 8 Bedrooms | $2,447 |
To classify ZIP 61204 in Unknown, Iowa, we must rely on the available data points for a thorough analysis. The Fair Market Rent (FMR) for ZIP 61204 in fiscal year 2024 is set at $950. However, specific market rent and home value data are not provided, which limits our ability to fully assess the yield potential relative to these benchmarks.
The lack of detailed market rent and home value data suggests that there might be limited historical data or activity in this area, making it challenging to predict rental yields accurately. Typically, a high FMR compared to market rent would indicate a higher yield potential, but without the latter figure, this cannot be conclusively determined for ZIP 61204.
Regarding stability, the percentage of renters, average days on market (DOM), and median income are also not specified. These factors are crucial for assessing the financial health and predictability of the tenant base. In the absence of these metrics, we can only infer that the stability of the market is unknown and requires further investigation.
Given the available information, ZIP 61204 appears to be neither clearly a high-yield/low-stability flip-style market nor a steady-cashflow zone. The defined FMR suggests a minimum rent threshold that can be expected, but the undefined market conditions make it difficult to categorize the area definitively. To make an informed decision, landlords and small-portfolio investors should seek additional local market data to complement the FMR figure of $950.
A prudent approach would involve researching the local real estate trends, understanding the competition, and gauging the economic climate of the region. This ZIP code's classification will largely depend on the forthcoming data regarding market rents, home values, and the economic indicators that influence tenant stability.
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.