Location: Sioux County, IA | Metro: Lyon County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,250 |
| 5 Bedrooms | $1,450 |
| 6 Bedrooms | $1,624 |
| 7 Bedrooms | $1,754 |
| 8 Bedrooms | $1,842 |
U.S. Census Bureau data (2024)
The ZIP code 51232 stands out in its county due to a unique blend of economic indicators and housing dynamics. With a resident population of 658, it has a rental rate of 14.6%, indicating that a significant portion of the community owns their homes. The median household income is $82,917, which is notably higher than the national average. Furthermore, the median home value of $177,010 suggests a middle-class area where homeownership is both attainable and common.
When examining the economics of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 51232 is set at $1,050 for fiscal year 2026. This figure contrasts sharply with the market rent of $1,208, as reported by the Census Bureau's American Community Survey. This discrepancy means that landlords participating in the Section 8 program can expect a slightly lower rent payment compared to the market rate, but it still represents a reliable and stable income stream.
The data signature of ZIP 51232 reads as "stable." The relatively high median income and home values indicate a consistent economic environment where residents have the financial means to maintain their living standards. Additionally, the modest rental rate implies that the majority of residents are long-term homeowners, which contributes to a settled community. However, the presence of the Section 8 program suggests there is still a need for affordable housing options, though this does not overshadow the overall stability of the area.
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.