Location: Lyon County, IA | Metro: Lyon County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,110 |
| 4 Bedrooms | $1,220 |
| 5 Bedrooms | $1,415 |
| 6 Bedrooms | $1,585 |
| 7 Bedrooms | $1,712 |
| 8 Bedrooms | $1,798 |
U.S. Census Bureau data (2024)
The ZIP code 51246 presents a dynamic market environment that can be characterized by the interplay between rental and ownership costs. With a Fair Market Rent (FMR) of $920 for the fiscal year 2026, it's clear that rental prices are expected to rise, indicating a potential shift towards higher rental demands. The current market rent, according to the Census ACS, stands at $812, suggesting an upward trend in line with the FMR projections.
The median home value in the area is $247,914, which is a significant figure when considering the cost of homeownership relative to renting. However, the lack of specific data on price-cut share and days on market (DOM) makes it difficult to conclusively determine whether supply currently outpaces demand or vice versa. Nonetheless, the relatively low market rent compared to the FMR hints at a scenario where demand might be increasing, pushing rents upwards.
A key indicator of long-term housing pressure is the 21.2% renter share. This suggests that a substantial portion of the population prefers or requires renting over buying, which could indicate either financial constraints or a preference for flexibility. In either case, a high renter share often correlates with persistent housing pressure, as renters may be more sensitive to changes in the rental market and less likely to purchase homes, thereby maintaining steady demand for rental properties.
In summary, while direct indicators of supply and demand are not available, the trajectory of rental prices and the significant renter share suggest a market where demand is likely to remain robust, particularly for rental properties. Landlords and small-portfolio investors should closely monitor these trends to make informed decisions regarding their investments in this ZIP code.
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.