Location: Sioux City, IA | Metro: Sioux City, IA-NE-SD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,270 |
| 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)
910 is the Fair Market Rent (FMR) for ZIP code 51052 as of fiscal year 2024, indicating the maximum amount Section 8 tenants can be charged for a two-bedroom apartment. 775 is the average market rent reported by the Census Bureau's American Community Survey, suggesting that landlords in this area could potentially charge below the FMR and still remain competitive. While there is no data available for the median home value, the 20.7% renter share shows that a significant portion of the population relies on rental housing, making it a viable investment option. The median income of 108,750 provides insight into the economic health of the area, though it does not directly correlate with individual tenant eligibility for Section 8. There is no data available regarding the days on market (DOM) or the percentage of listings that have had their prices cut, which means that these metrics cannot be used to gauge the local real estate market's performance. However, given the established FMR and market rent figures, landlords can expect a steady demand from both regular renters and those participating in the Section 8 program. The difference between the FMR and the market rent, at 135 dollars, allows landlords to participate in the Section 8 program without necessarily sacrificing profitability. Moreover, the relatively low renter share indicates that competition among landlords for tenants might not be excessively high, providing a stable environment for small-portfolio investors. In conclusion, the ZIP code 51052 offers a promising opportunity for Section 8 participation, with a favorable balance between the FMR and market rents.
Section 8 Verdict: Suitable for 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.