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 |
The investment risk assessment for ZIP 61266 in Unknown, IA, reveals several potential challenges for landlords and small-portfolio investors interested in Section 8 properties. Firstly, tenant turnover is a significant concern, especially when comparing the market rent to the $950 Fair Market Rent (FMR) for FY 2024. Without specific market rent data, it's difficult to assess how competitive this rate is, but historically, lower FMR rates can lead to higher turnover if tenants find better options outside the program.
Vacancy exposure is another issue, given the lack of data on the number of days on market (DOM). High DOM figures typically indicate difficulty in renting out units, which can be exacerbated by the specificities of the Section 8 program. Landlords must navigate complex paperwork and wait times, potentially increasing the time a unit remains vacant.
Deferred maintenance exposure is also notable, as there is no information on the typical home values or median incomes in the area. This absence of data makes it challenging to gauge the financial capacity of residents to maintain their homes properly. However, without these specifics, we cannot provide an accurate assessment of this risk.
On the positive side, the high renter share in the area, though the exact percentage is not available, generally indicates strong demand for rental housing, including Section 8 vouchers. A higher concentration of renters often translates into a larger pool of potential Section 8 tenants, reducing the likelihood of prolonged vacancies.
Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 61266, Unknown, IA. The unknowns regarding market rent, DOM, home values, and median income introduce uncertainty, but the high renter density provides a solid foundation for demand.
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.