Section 8 Fair Market Rent (FMR) for ZIP 51027 - 2027

Location: Sioux County, IA | Metro: Plymouth County, IA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$930
1 Bedroom	$960
2 Bedrooms	$1,260
3 Bedrooms	$1,610
4 Bedrooms	$1,710
5 Bedrooms	$1,984
6 Bedrooms	$2,222
7 Bedrooms	$2,400
8 Bedrooms	$2,520

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,280

Median Household Income

$100,893

Housing Units

516

Renter Percentage

17.3%

Occupancy Rate

80.4%

Renter Occupied

ZIP code 51027, located in Iowa, is characterized by a modest housing market where both rental and homeownership opportunities present themselves. The area reflects a blend of affordability and comfort, appealing to a diverse range of tenants and buyers.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,180, providing a benchmark for rental property values.
The actual market rent, as per the Census American Community Survey (ACS), stands at $1,094, indicating that properties in ZIP 51027 are slightly below the FMR.
The median home value in the area is $273,905, which suggests a reasonable investment opportunity for those looking to purchase residential properties.
Renters make up 17.3% of the population, showing that while homeownership is prevalent, there is still a significant portion of the community interested in leasing.
The median income for residents is $100,893, implying that the local economy supports a stable tenant base capable of paying consistent rents.
Note that the days on market (DOM) for rentals is listed as N/A, which might indicate limited data availability or a rapidly changing market that requires further investigation.

For landlords and small-portfolio investors, ZIP 51027 offers a balanced market with a slight edge towards rental properties being undervalued compared to the FMR. With a median income that supports rent payments, the area presents a viable option for generating steady returns. However, the low percentage of renters relative to homeowners points to a potentially competitive rental market. Investors should focus on properties that offer value and appeal to this income bracket, ensuring they remain attractive despite the competition.

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.