Location: Plymouth County, IA | Metro: Plymouth County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $850 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The ZIP code 51062 stands out within its county due to its unique characteristics. With only 503 residents, it has a notably low population density. However, the percentage of renters at 12.5% suggests that while the area is primarily owner-occupied, there is still a significant demand for rental properties. The median home value of $346,441 indicates a relatively high-value housing market, which contrasts sharply with the lack of reported median income data, suggesting either a highly diverse economic profile or limited reporting.
Moving to the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 51062 is set at $1,030 for fiscal year 2026, reflecting the government's assessment of the rental market value. In comparison, the actual market rent, as per the Census Bureau's American Community Survey (ACS), is slightly lower at $993. This gap between the FMR and market rent can be advantageous for landlords, as it allows them to potentially charge higher rents through Section 8 vouchers without significantly exceeding typical market rates.
The data signature for ZIP 51062 reads as stable. Despite the low population and limited income data, the high median home value and the slight premium in FMR over market rent suggest a consistent housing market. Landlords and small-portfolio investors can expect steady demand for both rental and ownership opportunities, with the potential to benefit financially from the Section 8 program without facing significant risks associated with market volatility. The current economic conditions support long-term investment strategies in this ZIP code, making it a reliable choice for those looking to secure their financial future through real estate.
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.