Location: Davenport-Moline-Rock Island, IA | Metro: Davenport-Moline-Rock Island, IA-IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 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 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 61234, marked by a median home value of $175,456, suggests a balanced market where neither buyers nor sellers hold overwhelming pricing power. The absence of data on the percentage of listings that have been reduced and the median days on market (DOM) indicates stability in the housing market, without significant fluctuations that would suggest either a buyer's or seller's market.
On the rental side, the Federal Market Rent (FMR) for ZIP 61234 in fiscal year 2024 is set at $860, while the actual market rent stands at $584 according to the Census ACS. This gap between FMR and market rent signals potential for growth in rental income, especially for landlords participating in Section 8 programs. Landlords can expect a gradual increase in rental rates as the market adjusts towards the FMR, enhancing their cash flow and investment returns.
For long-term investors, the setup points towards a moderate appreciation thesis. Given the stable median home value and the growing demand indicated by the disparity between FMR and market rent, there is a realistic expectation for property values to appreciate, albeit at a measured pace. However, the lack of specific data on listing reductions and DOM means that rapid appreciation is not likely. Instead, investors should anticipate steady, modest increases in property values over the next 12-24 months, aligning with broader economic trends and local market conditions.
The combination of a stable median home value and favorable rental dynamics creates an environment where long-hold investors can benefit from both rental income and property value appreciation. However, the appreciation will be gradual and consistent rather than explosive, making it essential for investors to focus on long-term strategies and avoid short-term speculative gains.
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.