Location: Sac County, IA | Metro: Buena Vista County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 51020 in Sac County, Iowa, reveals several key points that are essential for landlords and small-portfolio investors.
Firstly, the rent math does not favor landlords. The Fair Market Rent (FMR) for the area is set at $920 for fiscal year 2026, while the current market rent, according to Census ACS data, stands at only $658. This significant gap means that landlords aiming to meet the FMR might struggle to find tenants willing to pay the higher rate, leading to potential vacancies.
Secondly, acquiring properties in this ZIP code appears to be relatively affordable. With a median home value of $134,945, the cost of entry into the market is low compared to many other regions. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts suggests that the local real estate market may have inefficiencies or less liquidity, which could impact the ease of property acquisition.
Thirdly, there is a moderate tenant demand in ZIP 51020. The population is 632, and 36.8% of these residents are renters. This indicates that there is a consistent pool of potential tenants, although the size of the population limits the overall demand.
In summary, ZIP 51020 presents an opportunity for investors looking to enter an affordable housing market with a steady, if limited, tenant base. However, the discrepancy between FMR and actual market rents poses a challenge for landlords seeking to maximize their rental income. The low median home value makes property acquisition financially viable, but the absence of detailed market performance metrics implies caution is advised when evaluating the speed and success of sales. Given these factors, investment should be approached with realistic expectations regarding rental pricing and the dynamics of the local real estate market.
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.