Location: Davenport-Moline-Rock Island, IA | Metro: Davenport-Moline-Rock Island, IA-IL MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
U.S. Census Bureau data (2024)
The ZIP code 61239 presents several challenges for first-time Section 8 landlords. Tenant turnover can be a significant issue, especially when considering the market rent of $1,052 compared to the Fair Market Rent (FMR) of $1,000 for FY 2024. This disparity suggests that tenants might seek higher-quality housing outside of Section 8, leading to higher turnover rates and potential financial strain.
Vacancy exposure is another concern. The average days on market (DOM) is not available, which makes it difficult to predict how long properties might remain vacant between tenants. In areas where rental turnover is high, landlords often face extended periods of vacancy, increasing the risk of financial loss.
Deferred maintenance is also a risk factor. With a typical home value of $117,157 and a median income of $32,177, residents may struggle to afford necessary repairs and upgrades. This financial pressure could lead to a higher likelihood of deferring maintenance, potentially resulting in costly issues for landlords who must then cover these expenses.
However, there are mitigating factors that make the investment somewhat appealing. The renter share in ZIP 61239 is 68.6%, indicating a high concentration of renters. This high density typically translates into greater demand for rental housing, including Section 8 vouchers. As a result, landlords may find a steady stream of qualified tenants willing to use their vouchers to secure housing.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.