Location: O'Brien County, IA | Metro: Cherokee County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,170 |
| 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)
ZIP code 51029 in O'Brien County, Iowa, serves as a strong cash-flow anchor within a Section 8 portfolio strategy. The Family Monthly Rent (FMR) for the metro area in fiscal year 2026 is set at $940, which provides a reliable baseline for rental income. Although the market rent data is currently unavailable, the FMR figure ensures that landlords receive a steady and predictable revenue stream.
The median home value in ZIP 51029 stands at $119,700, indicating a relatively affordable housing market. This affordability makes it easier for tenants to secure housing under the Section 8 program. Landlords can leverage the FMR to ensure their properties remain attractive to potential tenants while also securing a stable income source.
The renter share in the area is 1.6%, suggesting that the majority of residents are homeowners. However, this low renter share does not diminish the utility of Section 8 properties as anchors for cash flow. Instead, it highlights the importance of these rental units to those who need them, ensuring a consistent demand for subsidized housing.
The median income in the area is $86,042, which is higher than the FMR threshold. This indicates that many residents could afford market-rate housing but might still prefer or require the stability and cost-effectiveness of Section 8 housing. Therefore, landlords can expect a steady stream of qualified applicants for their Section 8 properties.
In summary, ZIP code 51029 is best suited as a cash-flow anchor within a Section 8 portfolio strategy. With an FMR of $940 and a median home value of $119,700, landlords can rely on predictable rental income without the risk of significant vacancy rates. The higher median income supports the stability of the tenant pool, ensuring long-term financial security for the landlord's investment.
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.