Location: Monona County, IA | Metro: Sioux City, IA-NE-SD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
ZIP code 51026, located within the Monona County, IA metro, presents a unique set of characteristics that distinguish it from other ZIP codes in the area. With a Fair Market Rent (FMR) of $910 for fiscal year 2024, 51026 stands out due to the lack of available market rent data, suggesting a reliance on government estimates rather than private market rates.
The median home value in ZIP 51026 is $239,015, which is notably lower than the typical home values in other parts of Monona County. This lower valuation could indicate that 51026 is either a value pocket or a mid-tier neighborhood, depending on the overall economic conditions of the county. A value pocket typically refers to an area where housing is relatively affordable compared to surrounding regions, making it attractive for low-income renters who rely on government assistance programs such as Section 8.
The renter share in ZIP 51026 is 6.5%, which is slightly above the national average but may be indicative of a growing rental market or an area that has traditionally had a higher proportion of renters. When combined with the lower home values, this suggests that 51026 could be a sweet spot for Section 8 tenants. Landlords and small-portfolio investors should consider this ZIP code as a potential value pocket, given its alignment with the needs of subsidized renters.
To further contextualize 51026's position within the Monona County, IA metro, it would be beneficial to compare its FMR and home values against the broader county averages. However, based on the provided figures, it is evident that 51026 offers a mix of affordability and a reasonable number of renters, positioning it favorably for those seeking to invest in properties that cater to Section 8 participants.
In summary, ZIP 51026 appears to be a value pocket within the Monona County, IA metro, characterized by its lower home values and a higher-than-average renter share. This combination makes it a potentially lucrative investment opportunity for landlords and small-portfolio investors looking to capitalize on the demand for affordable rental housing supported by Section 8 subsidies.
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.