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 | $830 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,470 | $232,529 | 0.63% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 61256 are defined by the SAFMR (Small Area Fair Market Rent) which is specifically tailored for this ZIP code. For a two-bedroom apartment, the SAFMR for FY 2024 is set at $1080. This figure represents the maximum amount that a Section 8 voucher will cover for rent in this particular ZIP code. However, it's important to understand how this interacts with the actual local market conditions.
The local market rent for a two-bedroom unit in ZIP 61256, based on Census ACS data, is currently at $941. This indicates that the SAFMR is higher than the average market rent, potentially providing landlords with a buffer against rising costs. When a tenant uses a Section 8 voucher, they are required to contribute a portion of their income towards rent. This contribution is typically 30% of the household's adjusted monthly income. If the tenant's share plus the utility allowance does not meet the SAFMR, the difference is made up by the housing authority.
To illustrate, let's assume a tenant has an adjusted monthly income of $1500. Their contribution towards rent would be 30% of this amount, which is $450. The utility allowance can vary but is often around $150. Therefore, the total contribution from the tenant and the utility allowance would be $600. In this case, the housing authority would pay the remaining $480 to reach the SAFMR of $1080. This means that even if the market rent is below the SAFMR, landlords can still receive the full voucher amount, ensuring stable and predictable income.
The typical reimbursement gap or surplus in ZIP 61256 for a two-bedroom apartment is a surplus. Given the SAFMR is $1080 and the local market rent is $941, landlords could see a surplus of $139 per month when renting to a Section 8 tenant. This surplus allows landlords to potentially cover maintenance, property management fees, and other expenses without dipping into their own pockets. It also provides a cushion against potential increases in operating costs.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.