Location: Sioux County, IA | Metro: Cherokee County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 51022 in Sioux County, Iowa, reveals several key points that are crucial for landlords and small-portfolio investors.
The rent math does not work favorably here. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $920. However, the market rent is listed as N/A, which suggests there is insufficient data to determine if the FMR aligns with actual rental prices. This uncertainty can pose a risk for setting rental rates that might not be competitive or sustainable.
Regarding acquisition affordability, the median home value stands at $273,603. Without specific data on the number of days on market (DOM) and the percentage of homes needing price cuts, it's challenging to assess how easily properties can be acquired at fair prices. This ambiguity leaves room for negotiation but also introduces potential complications in securing properties at optimal costs.
Tenant demand is relatively low. With a total population of 960, only 10.9% are renters. This indicates a smaller pool of potential tenants, which could affect occupancy rates and the overall viability of rental investments in this area.
Verdict: Investing in ZIP 51022 presents challenges due to unclear market rents, limited data on property acquisition costs, and a low tenant demand. Landlords and investors should proceed with caution and seek additional local insights before committing capital.
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.