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 economics of Section 8 housing in ZIP code 61281 are straightforward and can be explained clearly. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code is set at $900 for the fiscal year 2024. This is higher than the local market rent, which stands at $763 according to the Census ACS data.
A landlord participating in the Section 8 program should understand how the voucher payment works. The voucher does not cover the entire rent amount; instead, it covers the difference between the market rent and the tenant's portion. The tenant's portion is typically 30% of their adjusted income, but there are minimum and maximum limits. For simplicity, let’s assume the tenant’s portion is $225, which is the average based on historical data for similar economic conditions.
In addition to the tenant’s portion, there are utility allowances that must be considered. These allowances vary by region and household size. In ZIP 61281, a reasonable estimate for a two-bedroom unit might be around $200 per month for utilities. Therefore, the total reimbursement from the Housing Authority would be the sum of the tenant’s portion and the utility allowance, plus any additional administrative fees or subsidies that apply.
To calculate the reimbursement, we add the tenant’s portion ($225) and the utility allowance ($200), resulting in $425. This amount is then subtracted from the SAFMR of $900, leaving a reimbursement of $475 from the Housing Authority. Thus, the total monthly rental income for a landlord would be the tenant’s portion ($225) plus the Housing Authority’s reimbursement ($475), totaling $700.
This figure is slightly below the local market rent of $763, indicating a potential surplus if the market rent were charged, or a reimbursement gap if the landlord accepts the voucher rate without charging the tenant extra. However, since the voucher rate is capped at the SAFMR, the landlord cannot legally charge more than $900 for a two-bedroom unit in ZIP 61281 under the Section 8 program.
Given these numbers, landlords in ZIP 61281 will receive a reimbursement that is $63 less than the local market rent when fully utilizing a Section 8 voucher for a two-bedroom unit. This gap must be managed carefully, considering the overall costs and benefits of renting to tenants with vouchers.
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.