Section 8 Fair Market Rent (FMR) for ZIP 51009 - 2027

Location: O'Brien County, IA | Metro: O'Brien County, IA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$700
1 Bedroom	$720
2 Bedrooms	$950
3 Bedrooms	$1,120
4 Bedrooms	$1,240
5 Bedrooms	$1,438
6 Bedrooms	$1,611
7 Bedrooms	$1,740
8 Bedrooms	$1,827

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

113

Median Household Income

$58,750

Housing Units

Renter Percentage

4.0%

Occupancy Rate

87.7%

Renter Occupied

The ZIP code 51009, located in Iowa, represents a modest-sized community that is largely composed of homeowners, with only a small percentage of residents being renters. This analysis delves into the key metrics relevant to landlords and small-portfolio investors looking to navigate the rental market within this area.

The Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $920. This figure provides a benchmark for rental pricing within the ZIP code, ensuring that rents remain competitive and affordable.
Despite the availability of FMR data, specific market rent figures for ZIP 51009 are currently unavailable, indicating a lack of detailed local data. However, the FMR can serve as a reasonable estimate for setting rental rates.
The median home value in ZIP 51009 is not available, suggesting a limited supply of rental properties and potentially higher demand for existing units.
Renters make up just 4.0% of the population, highlighting the dominance of homeownership in the area. This low renter share may present challenges for those looking to invest solely in rental properties.
The Days on Market (DOM) data for rentals in ZIP 51009 is also not available, which could imply either a quick turnover rate or a less active rental market.
The median household income is $58,750, providing insight into the financial capacity of potential tenants and helping to gauge the affordability of rental units priced around the FMR.

In summary, while the rental market in ZIP 51009 is constrained by a low renter share and limited local data, the FMR of $920 offers a solid guideline for pricing. The median income supports the ability of residents to meet these rent levels, making it feasible for landlords to maintain a steady occupancy rate. Given the scarcity of rental properties, any investment in this market should focus on quality and affordability to attract tenants effectively.

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.