Location: Sioux County, IA | Metro: Cherokee County, IA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,110 | $201,691 | 0.55% | F |
| 3BR | $1,430 | $255,516 | 0.56% | F |
| 4BR | $1,510 | $335,827 | 0.45% | F |
| 5BR | $1,752 | $388,533 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 51050 encompasses a portion of Remsen, IA, characterized by a modest population size of 2,962 residents. The area is predominantly owner-occupied, with only 14.1% of the population renting their homes, indicating a community where homeownership is prevalent. The median household income in this region stands at a robust $92,500, suggesting that the local economy supports a middle-class lifestyle. Additionally, the median home value is notably high at $278,148, which reflects the area's desirability and the overall quality of housing.
When it comes to rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,080. However, the actual market rent, as reported by the Census American Community Survey (ACS), is lower at $938. This discrepancy between the FMR and the market rent suggests an opportunity for investors who can manage properties efficiently to capture the difference as profit. The gap indicates that there might be room for increasing rents to align closer with the FMR without significantly impacting occupancy rates, given the relatively strong median income of the area.
Considering these factors, ZIP 51050 would suit both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the stable demand for rental units and the alignment of FMR with higher potential rents make it a viable option. Meanwhile, hands-on value-add buyers could benefit from improving property values and rents to match the FMR, thereby enhancing returns. The low percentage of renters implies that any improvements made to properties could attract a wider audience, including those who might prefer renting over buying due to the enhanced amenities and conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.