Location: Sioux City, IA | Metro: Sioux City, IA-NE-SD MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
South Sioux City, NE, represented by ZIP code 68776, stands out in Dakota County due to its distinct demographic and economic characteristics. With a population of 15,373 residents, it has a notable rental rate of 42.7%, indicating a significant portion of its community relies on rented housing. The median income in this area is $68,750, while the median home value is notably higher at $228,288, suggesting a robust local economy that supports both renters and homeowners.
The economics of Section 8 vouchers in South Sioux City are particularly compelling. For fiscal year 2024, the Fair Market Rent (FMR) for a one-bedroom apartment is set at $1,030. This figure is slightly below the estimated market rent of $1,102, based on Census ACS data. Landlords who accept Section 8 vouchers can expect a steady stream of rental income, which closely aligns with market rates. Given the high demand for rentals, this can be an attractive option for securing long-term tenants.
The data signature for ZIP 68776 reads as stable. The relatively low disparity between FMR and market rents indicates a balanced market where voucher holders can find suitable housing without landlords suffering financial losses. Additionally, the high median home value suggests a strong property market, which benefits both homeowners and investors. The rental rate also points towards a consistent demand for affordable housing solutions, making South Sioux City a reliable location for those interested in real estate investments that cater to the needs of low-income families.
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.