Location: Monona County, IA | Metro: Sioux City, IA-NE-SD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
18.4% of residents in ZIP code 51019 are renters, indicating a significant demand for rental properties in the area. The $575 market rent figure from the Census ACS suggests that landlords can expect this amount as the average monthly rent they could charge for their units. However, it's important to note that the Fair Market Rent (FMR) for Section 8 in the same zip code is set at $930, which is considerably higher than the market rent. This difference highlights the potential for landlords to receive above-average rents through the Section 8 program.
The median home value in ZIP 51019 stands at $193,654, reflecting the overall property values in the region. For small-portfolio investors looking to purchase rental properties, this figure provides a benchmark for property costs. Additionally, the median income of $75,000 offers insight into the financial stability of the local population, suggesting that tenants are likely to be able to meet their rent obligations.
While there is no data available on the days on market (DOM) or the percentage of homes that have had their prices cut, these missing pieces should not overshadow the strong fundamentals presented by the other metrics. The combination of a robust demand for rentals, a favorable disparity between market rent and Section 8 FMR, and a stable median income all point towards a positive investment environment.
In conclusion, given the $930 FMR for Section 8 and the $575 market rent, landlords and small-portfolio investors in ZIP 51019 can benefit from participating in the Section 8 program, securing a more reliable and higher rental income compared to the general market. Verdict: ZIP 51019 is a good fit for Section 8 investments.
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.