Location: Plymouth County, IA | Metro: Sioux City, IA-NE-SD MSA
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 | $810 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $940 | $94,976 | 0.99% | C |
| 2BR | $1,160 | $137,544 | 0.84% | C |
| 3BR | $1,410 | $182,099 | 0.77% | D |
| 4BR | $1,570 | $189,457 | 0.83% | C |
| 5BR | $1,821 | $217,476 | 0.84% | C |
U.S. Census Bureau data (2024)
ZIP code 51103, located in Sioux City, IA within Plymouth County, presents an interesting profile when compared to typical ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 51103 is set at $1020 for fiscal year 2024, which is higher than the market rent of $906. This indicates that the government's estimate of what constitutes a fair rent price is slightly above what the local market currently offers.
The median home value in ZIP 51103 is $155,846, which is reflective of the overall housing market in the area. However, the renter share in this ZIP code stands at 34.4%, significantly higher than the typical Plymouth County ZIP codes. A higher percentage of renters often suggests a greater demand for rental properties, which can be beneficial for landlords and small-portfolio investors looking to capitalize on this trend.
Given the specific figures, ZIP 51103 can be classified as a mid-tier neighborhood within the Plymouth County metro. The FMR being slightly above the market rent points towards a balance between affordability and market rates. Additionally, the median home value aligns well with the general trends observed in the county, indicating neither a premium nor a value pocket status.
However, the notable divergence lies in the high renter share combined with below-average home values relative to the metro. This combination often signals a potential sweet spot for Section 8 properties, as it suggests a strong rental market where subsidized housing could play a significant role. For landlords, this means there might be opportunities to attract tenants through Section 8 programs, thereby stabilizing occupancy and ensuring a steady income stream.
To summarize, while ZIP 51103 is positioned as a mid-tier neighborhood within the Plymouth County metro, the high renter share and relatively lower home values present unique opportunities for those involved in Section 8 housing. These factors make it a promising area for investment, particularly in rental properties.
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.