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 ZIP code 61272 is situated in a rural area with a total population of 1,437. The demographic makeup of this neighborhood is primarily homeowners, with only 15.2% of residents being renters. The median household income stands at $64,167, which is relatively modest compared to urban areas, but still provides a stable economic base. The median home value in this region is $130,893, indicating that it is an affordable living area.
When considering rental economics, the Fair Market Rent (FMR) for ZIP 61272 in fiscal year 2024 is set at $860. However, the actual market rent, according to the Census ACS, is lower at $605. This discrepancy suggests that there might be limited demand for higher-priced rentals, making it important for investors to understand the local market dynamics.
Given these factors, ZIP 61272 would suit a hands-off voucher operator who can leverage the government's FMR to cover costs and maintain steady cash flow. The low percentage of renters indicates a smaller pool of potential tenants, but the difference between FMR and market rent means that voucher holders could provide a reliable stream of income without the need for extensive property management.
On the other hand, for a hands-on value-add buyer, this ZIP code presents opportunities to improve properties and potentially increase rents closer to the FMR. However, such an approach requires a deeper understanding of the local housing needs and willingness to engage actively in property maintenance and tenant relations.
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.