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 analysis of ZIP code 61263 reveals a market that is somewhat balanced between yield and stability, but leans slightly towards offering steady cash flow rather than being a high-yield/low-stability flip-style market.
The Federal Market Rent (FMR) for ZIP 61263 in fiscal year 2024 is set at $890, which is notably higher than the market rent of $856. This indicates a potential for higher rental income when compared to the average market rates, making it attractive for landlords seeking above-average yields. However, the median home value stands at $128,592, suggesting that the area does not offer extremely high property values, which could limit the potential for quick flips or speculative investments.
Stability is another critical factor. With 11.4% of residents being renters, there is a relatively low demand for rental properties, which can affect vacancy rates and the consistency of rental income. The lack of data on days on market (DOM) means we cannot assess how quickly properties are rented out, which is an important indicator of stability. Additionally, the average income in the area is $86,500, which provides a moderate level of financial security for tenants, reducing the risk of default and improving the overall stability of the rental market.
In conclusion, ZIP 61263 offers a modestly higher yield through its FMR compared to the local market rent, but the lower proportion of renters and moderate income levels suggest a more stable environment. This makes it a suitable choice for investors looking for consistent cash flow rather than those aiming for high-risk, high-reward opportunities. The figures clearly show that the market is geared towards steady returns rather than volatile, 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.