Location: Plymouth County, IA | Metro: Sioux City, IA-NE-SD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
The ZIP code 51048 stands out with a unique set of characteristics that define its real estate landscape. With only 435 residents, it has a low population density, which is unusual for a county ZIP. Only 14.7% of these residents rent their homes, indicating a predominantly owner-occupied area. The median income in this ZIP is $83,158, which is relatively high, suggesting a financially stable community. The median home value of $168,554 further supports this, showing that homeownership is accessible yet valued.
When it comes to Section 8 voucher economics, the data reveals an interesting disparity. The Fair Market Rent (FMR) for ZIP 51048 in fiscal year 2024 is set at $910, whereas the market rent based on Census ACS data is significantly lower at $606. This gap means that landlords accepting Section 8 vouchers could potentially receive higher rents compared to the local market rate, making it a lucrative option despite the administrative requirements.
The data signature for ZIP 51048 reads as stable. The high median income and median home value suggest that the area is economically sound, with residents having the financial capacity to support property values. The low percentage of renters indicates a preference for homeownership, which can contribute to long-term stability in the housing market. However, the potential for higher rental income through Section 8 vouchers introduces a transitional element, as it may attract more landlords to the program, thereby changing the rental dynamics slightly.
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.