Location: Clay County, IA | Metro: Clay County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
U.S. Census Bureau data (2024)
The ZIP code 51343 stands out due to its unique mix of characteristics. With only 172 residents, it has a very low population density. However, 19.2% of these residents are renters, indicating a modest but present rental market. The median income in this ZIP code is $60,625, which is relatively high compared to national averages. This suggests that while the area is small, it does have a financially stable community. The median home value of $172,874 also reflects a middle-class residential area.
Moving into the specifics of Section 8 housing, the Fair Market Rent (FMR) for the metro area covering fiscal year 2026 is set at $1,020. Unfortunately, the market rent data for this particular ZIP code is currently unavailable, making direct comparisons challenging. However, the FMR can still be used as a benchmark for landlords considering participation in the Section 8 program. Given the median income levels, there is potential for a steady stream of tenants who can reliably meet their rent obligations through the voucher system.
Based on the available data, the ZIP code 51343 appears to be stable rather than transitional. The combination of a decent rental percentage and a high median income suggests that the local economy is unlikely to experience significant fluctuations in the near future. For landlords and small-portfolio investors, this ZIP code presents an opportunity to serve a reliable tenant base without the risks associated with rapidly changing markets. The financial stability of the residents and the moderate demand for rental properties make this a sound investment choice.
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.