Location: Sac County, IA | Metro: Carroll County, IA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,210 |
| 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 analysis of ZIP code 51466 in Sac County, Iowa, reveals key insights for potential landlords and small-portfolio investors.
The rent math does not work favorably. The Fair Market Rent (FMR) for the area, set at $920 for fiscal year 2026, is significantly higher than the actual market rent of $637 as reported by the Census ACS. This discrepancy indicates that landlords may struggle to charge rents at the FMR level without facing vacancy issues.
Acquisition appears to be relatively affordable. With a median home value of $162,362, purchasing property in this ZIP code is within reach for many investors. However, the lack of data on Days on Market (DOM) and the percentage of homes needing price cuts suggests a less active market, which could imply slower sales cycles or lower liquidity.
Tenant demand is modest given the ZIP code's small population of 1,043 and a renter share of 18.0%. This means there are only approximately 188 potential renters, which limits the pool of tenants and could affect the ability to quickly fill vacancies.
In conclusion, while the acquisition cost is reasonable, the mismatch between FMR and actual market rents, coupled with a limited tenant base, makes ZIP 5166 a challenging investment opportunity for landlords and small-portfolio investors. The focus should be on properties that can attract tenants at or below the market rate of $637, and investors must be prepared for a smaller, potentially less competitive rental market.
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.