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Woodbury County/Climbing Hill/51015

51015

ZIPSAFMR
Woodbury County, IA
Zillow

ZIP Investment Score

89Below average

095130300
BRFMR
Eff. Rent
0 BR$730$730
1 BR$840$840
2 BR$1,050$1,050
3 BR$1,270$1,270
4 BR$1,430$1,430
5 BR$1,644Not available
6 BR$1,891Not available
7 BR$2,175Not available
8 BR$2,501Not available

Purchase Price Calculator

Maximum purchase price
$94,113

Cost breakdown

+Likely effective rent$1,050
HUD FMRUsed$1,050
Market rentN/A
Est. payment standardN/A
-Principal and interest-$476
Loan amount$75,290
Down payment$18,823
Rate6.50%
Term30 years
-Operating costs-$374
Property taxes-$94
Insurance-$175
Utilities$0
HOA$0
Management-$105
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,134(91.0% ROI)
Projected value
$101,349
Return breakdown
Property appreciation+$7,236
Loan principal paid down+$2,697
Rental cash flow+$7,200
5-year hold
+$29,178(155.0% ROI)
Projected value
$106,480
Return breakdown
Property appreciation+$12,367
Loan principal paid down+$4,810
Rental cash flow+$12,000
10-year hold
+$61,822(328.4% ROI)
Projected value
$120,473
Return breakdown
Property appreciation+$26,360
Loan principal paid down+$11,462
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 51015 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 51015 (Climbing Hill, IA) is $1,050 a month. That is unchanged from FY 2026. Climbing Hill is in the Sioux City, IA-NE-SD MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,194. Among 29 ZIP codes in Woodbury County, 51015 is tied for the 14th-highest two-bedroom rent (county range $1,040–$1,540). The median county two-bedroom FMR in Iowa is $927, so ZIP 51015 is 13% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 51015
BedroomsFY 2027Change90–110% range
Studio$730+1.4%$657–$803
1BR$840+1.2%$756–$924
2BR$1,0500.0%$945–$1,155
3BR$1,270+1.6%$1,143–$1,397
4BR$1,430+2.9%$1,287–$1,573

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 51015
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$730$840$1,050$1,270$1,430
FY 2026$720$830$1,050$1,250$1,390
FY 2025$650$740$940$1,130$1,260
FY 2024$680$770$1,000$1,220$1,330
FY 2023$620$700$920$1,130$1,240

Two-bedroom rent in nearby Woodbury County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 51015
51004$1,320+25.7%
51006$1,040−1.0%
51007$1,140+8.6%
51015Current$1,050—
51016$1,110+5.7%
51018$1,040−1.0%
51019$1,0500.0%
51026$1,0500.0%
51028$1,040−1.0%
51030$1,040−1.0%
51034$1,040−1.0%
51039$1,060+1.0%

Questions about ZIP 51015 rents

How much will Section 8 pay for a two-bedroom in ZIP 51015?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,194, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,075 to $1,313 a month; under the ZIP-level Small Area FMR of $1,050 it would be $945 to $1,155. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 51015 in?

ZIP 51015 is in the Sioux City, IA-NE-SD MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,194.

How much did fair market rent change in ZIP 51015 for FY 2027?

The two-bedroom FMR was unchanged at $1,050 in FY 2027. Since FY 2023 it has risen 14.1%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentClimbing Hill, IA fair market rentIA statewide rentsWhat is SAFMR?Data sources