Section 8 Fair Market Rent (FMR) for ZIP 61284 - 2027

Location: Davenport-Moline-Rock Island, IA | Metro: Davenport-Moline-Rock Island, IA-IL MSA

Investment Score for ZIP 61284

N/A

Monthly Rent (2BR)

$1,260

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$900
1 Bedroom	$1,020
2 Bedrooms	$1,260
3 Bedrooms	$1,630
4 Bedrooms	$1,980
5 Bedrooms	$2,297
6 Bedrooms	$2,573
7 Bedrooms	$2,779
8 Bedrooms	$2,918

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,630	$278,615	0.59%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,599

Median Household Income

$100,505

Housing Units

1,066

Renter Percentage

10.2%

Occupancy Rate

97.5%

Renter Occupied

106

ZIP code 61284 is positioned within the Davenport-Moline-Rock Island, IA-IL MSA metro area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1430, which is significantly higher than the market rent of $862. This suggests that the zip code may be subsidized, making it attractive for landlords participating in the Section 8 program.

The median home value in ZIP 61284 is $269,311, which is below the typical home values found in the broader Davenport-Moline-Rock Island MSA. Given that the renter share in this zip is 10.2%, this indicates a slightly higher concentration of renters compared to the average in the metro area. Typically, a higher renter share combined with lower-than-average home values can signal a potential sweet spot for Section 8 investments.

To determine if 61284 is a value pocket, mid-tier neighborhood, or a premium sub-market, consider the following:

Value Pocket: The zip code could be considered a value pocket due to its below-average home values and above-average FMR, suggesting subsidies make up for lower market rents.
Mid-Tier Neighborhood: It doesn't fit neatly into a mid-tier category because both its FMR and home values are atypical compared to the metro area.
Premium Sub-Market: The zip code is unlikely to be a premium sub-market given its lower home values and the substantial gap between FMR and market rent.

The divergence between the FMR and market rent, along with the slightly elevated renter share, points towards 61284 being a value pocket within the metro area, particularly appealing to landlords interested in the Section 8 program.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.