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Woodbury County/Sioux City/51104

51104

ZIPSAFMR
Woodbury County, IA
Zillow

ZIP Investment Score

89Below average

095130300
BRFMR
Eff. Rent
0 BR$810$860
1 BR$940$990
2 BR$1,160$1,220
3 BR$1,410$1,480
4 BR$1,570$1,720
5 BR$1,805Not available
6 BR$2,076Not available
7 BR$2,388Not available
8 BR$2,746Not available

Purchase Price Calculator

Maximum purchase price
$119,375

Cost breakdown

+Likely effective rent$1,220
HUD FMR$1,160
Market rent$1,250
Est. payment standard (105%)Used$1,220
-Principal and interest-$604
Loan amount$95,500
Down payment$23,875
Rate6.50%
Term30 years
-Operating costs-$416
Property taxes-$119
Insurance-$175
Utilities$0
HOA$0
Management-$122
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,800(82.9% ROI)
Projected value
$128,554
Return breakdown
Property appreciation+$9,179
Loan principal paid down+$3,422
Rental cash flow+$7,200
5-year hold
+$33,788(141.5% ROI)
Projected value
$135,062
Return breakdown
Property appreciation+$15,687
Loan principal paid down+$6,102
Rental cash flow+$12,000
10-year hold
+$71,974(301.5% ROI)
Projected value
$152,810
Return breakdown
Property appreciation+$33,435
Loan principal paid down+$14,539
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.92
1 BR
0.92
2 BR
0.93
3 BR
0.93
4 BR
0.87
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 51104 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 51104 (Sioux City, IA) is $1,160 a month. That is up 1.8% from $1,140 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, 51104 is tied for the 7th-highest two-bedroom rent (county range $1,040–$1,540). The median county two-bedroom FMR in Iowa is $927, so ZIP 51104 is 25% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 51104
BedroomsFY 2027Change90–110% range
Studio$810+2.5%$729–$891
1BR$940+3.3%$846–$1,034
2BR$1,160+1.8%$1,044–$1,276
3BR$1,410+2.9%$1,269–$1,551
4BR$1,570+4.0%$1,413–$1,727

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 51104
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$810$940$1,160$1,410$1,570
FY 2026$790$910$1,140$1,370$1,510
FY 2025$720$820$1,050$1,270$1,390
FY 2024$700$800$1,030$1,250$1,370
FY 2023$640$730$960$1,180$1,290

Two-bedroom rent in nearby Woodbury County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 51104
51056$1,040−10.3%
51061$1,040−10.3%
51063$1,040−10.3%
51101$1,040−10.3%
51102$1,170+0.9%
51103$1,1600.0%
51104Current$1,160—
51105$1,040−10.3%
51106$1,290+11.2%
51108$1,490+28.4%
51109$1,040−10.3%
51111$1,230+6.0%

Questions about ZIP 51104 rents

How much will Section 8 pay for a two-bedroom in ZIP 51104?

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 $1,160 it would be $1,044 to $1,276. 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 51104 in?

ZIP 51104 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 51104 for FY 2027?

The two-bedroom FMR rose 1.8%, from $1,140 in FY 2026 to $1,160 in FY 2027. Since FY 2023 it has risen 20.8%.

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