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Johnson County/Iowa City/52243

52243

ZIPFMR
Johnson County, IA
Zillow
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$942$1,040
1 BR$1,002$1,060
2 BR$1,180$1,180
3 BR$1,634$1,800
4 BR$1,972$2,170
5 BR$2,268Not available
6 BR$2,608Not available
7 BR$2,999Not available
8 BR$3,449Not available

Purchase Price Calculator

Maximum purchase price
$113,431

Cost breakdown

+Likely effective rent$1,180
HUD FMRUsed$1,180
Market rentN/A
Est. payment standardN/A
-Principal and interest-$574
Loan amount$90,745
Down payment$22,686
Rate6.50%
Term30 years
-Operating costs-$406
Property taxes-$113
Insurance-$175
Utilities$0
HOA$0
Management-$118
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,173(84.5% ROI)
Projected value
$122,153
Return breakdown
Property appreciation+$8,722
Loan principal paid down+$3,251
Rental cash flow+$7,200
5-year hold
+$32,703(144.2% ROI)
Projected value
$128,337
Return breakdown
Property appreciation+$14,906
Loan principal paid down+$5,798
Rental cash flow+$12,000
10-year hold
+$69,585(306.7% ROI)
Projected value
$145,201
Return breakdown
Property appreciation+$31,770
Loan principal paid down+$13,815
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.83
1 BR
0.92
3 BR
0.84
4 BR
0.79
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 52243 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 52243 (Iowa City, IA) is $1,180 a month. That is up 3.4% from $1,141 in FY 2026. Iowa City is in the Iowa City, IA HUD Metro FMR Area. The median county two-bedroom FMR in Iowa is $927, so ZIP 52243 is 27% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 52243
BedroomsFY 2027Change90–110% range
Studio$942+7.0%$848–$1,036
1BR$1,002+4.3%$902–$1,102
2BR$1,180+3.4%$1,062–$1,298
3BR$1,634+3.0%$1,471–$1,797
4BR$1,972+3.0%$1,775–$2,169

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 52243
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$942$1,002$1,180$1,634$1,972
FY 2026$880$961$1,141$1,587$1,914
FY 2025$816$921$1,105$1,548$1,856
FY 2024$783$902$1,082$1,525$1,836
FY 2023$810$922$1,127$1,602$1,920

Questions about ZIP 52243 rents

How much will Section 8 pay for a two-bedroom in ZIP 52243?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,180, that basic range is $1,062 to $1,298 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 52243 in?

ZIP 52243 is in the Iowa City, IA HUD Metro FMR Area. Small Area FMRs are not mandatory in this area.

How much did fair market rent change in ZIP 52243 for FY 2027?

The two-bedroom FMR rose 3.4%, from $1,141 in FY 2026 to $1,180 in FY 2027. Since FY 2023 it has risen 4.7%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Fair Market Rents. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentIowa City, IA fair market rentIA statewide rentsWhat is SAFMR?Data sources