FMR is below market; voucher rent may lag private rents.
0.86
1 BR
1 BR
0.82ratio
FMR$840
Market$1,030
vs market-$190
FMR is below market; voucher rent may lag private rents.
0.82
2 BR
2 BR
0.85ratio
FMR$1,040
Market$1,230
vs market-$190
FMR is below market; voucher rent may lag private rents.
0.85
3 BR
3 BR
0.78ratio
FMR$1,250
Market$1,610
vs market-$360
FMR is below market; voucher rent may lag private rents.
0.78
4 BR
4 BR
0.79ratio
FMR$1,380
Market$1,740
vs market-$360
FMR is below market; voucher rent may lag private rents.
0.79
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 51101 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 51101 (Sioux City, IA) is $1,040 a month. That is up 8.3% from $960 in FY 2026. Sioux City 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, 51101 is tied for the 18th-highest two-bedroom rent (county range $1,040–$1,540). The median county two-bedroom FMR in Iowa is $927, so ZIP 51101 is 12% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 51101
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$660
$720
+9.1%
$648–$792
1BR
$770
$840
+9.1%
$756–$924
2BR
$960
$1,040
+8.3%
$936–$1,144
3BR
$1,150
$1,250
+8.7%
$1,125–$1,375
4BR
$1,270
$1,380
+8.7%
$1,242–$1,518
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 51101
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$720
$840
$1,040
$1,250
$1,380
FY 2026
$660
$770
$960
$1,150
$1,270
FY 2025
$620
$710
$910
$1,110
$1,220
FY 2024
$610
$700
$910
$1,100
$1,210
FY 2023
$550
$630
$830
$1,010
$1,110
Two-bedroom rent in nearby Woodbury County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 51101?
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 $1,040 it would be $936 to $1,144. 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 51101 in?
ZIP 51101 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 51101 for FY 2027?
The two-bedroom FMR rose 8.3%, from $960 in FY 2026 to $1,040 in FY 2027. Since FY 2023 it has risen 25.3%.
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