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O'Brien County/Paullina/51046

51046

ZIPSAFMR
O'Brien County, IA
Zillow

ZIP Investment Score

83Below average

095130300
BRFMR
Eff. Rent
0 BR$720$720
1 BR$740$740
2 BR$970$970
3 BR$1,160$1,160
4 BR$1,280$1,280
5 BR$1,472Not available
6 BR$1,693Not available
7 BR$1,947Not available
8 BR$2,239Not available

Purchase Price Calculator

Maximum purchase price
$82,225

Cost breakdown

+Likely effective rent$970
HUD FMRUsed$970
Market rentN/A
Est. payment standardN/A
-Principal and interest-$416
Loan amount$65,780
Down payment$16,445
Rate6.50%
Term30 years
-Operating costs-$354
Property taxes-$82
Insurance-$175
Utilities$0
HOA$0
Management-$97
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,879(96.6% ROI)
Projected value
$88,547
Return breakdown
Property appreciation+$6,322
Loan principal paid down+$2,357
Rental cash flow+$7,200
5-year hold
+$27,008(164.2% ROI)
Projected value
$93,030
Return breakdown
Property appreciation+$10,805
Loan principal paid down+$4,203
Rental cash flow+$12,000
10-year hold
+$57,044(346.9% ROI)
Projected value
$105,255
Return breakdown
Property appreciation+$23,030
Loan principal paid down+$10,014
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
--
Mortgage rate
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ZIP 51046 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 51046 (Paullina, IA) is $970 a month. That is down 3.0% from $1,000 in FY 2026. Paullina is in the O'Brien County, IA non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $927. Among 16 ZIP codes in O'Brien County, 51046 is tied for the 6th-highest two-bedroom rent (county range $930–$1,390). The median county two-bedroom FMR in Iowa is $927, so ZIP 51046 is 5% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 51046
BedroomsFY 2027Change90–110% range
Studio$720−2.7%$648–$792
1BR$740−2.6%$666–$814
2BR$970−3.0%$873–$1,067
3BR$1,160−4.1%$1,044–$1,276
4BR$1,280−3.8%$1,152–$1,408

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 51046
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$720$740$970$1,160$1,280
FY 2026$740$760$1,000$1,210$1,330
FY 2025$690$720$940$1,240$1,320
FY 2024area FMR$630$656$862$1,144$1,148
FY 2023area FMR$581$616$795$1,110$1,114

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby O'Brien County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 51046
51009$950−2.1%
51014$1,390+43.3%
51022$1,000+3.1%
51029$940−3.1%
51035$1,030+6.2%
51046Current$970—
51047$1,040+7.2%
51058$930−4.1%
51201$9700.0%
51231$9700.0%
51232$950−2.1%
51238$930−4.1%

Questions about ZIP 51046 rents

How much will Section 8 pay for a two-bedroom in ZIP 51046?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $927, which applies unless the housing authority uses Small Area FMRs, that basic range is $834 to $1,020 a month; under the ZIP-level Small Area FMR of $970 it would be $873 to $1,067. 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 51046 in?

ZIP 51046 is in the O'Brien County, IA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $927.

How much did fair market rent change in ZIP 51046 for FY 2027?

The two-bedroom FMR fell 3.0%, from $1,000 in FY 2026 to $970 in FY 2027. Since FY 2025 it has risen 3.2%.

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 rentPaullina, IA fair market rentIA statewide rentsWhat is SAFMR?Data sources