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Clay County/Webb/51366

51366

ZIPSAFMR
Clay County, IA
Zillow

ZIP Investment Score

106Above average

095130300
BRFMR
Eff. Rent
0 BR$830$830
1 BR$840$840
2 BR$1,110$1,110
3 BR$1,430$1,430
4 BR$1,460$1,460
5 BR$1,679Not available
6 BR$1,931Not available
7 BR$2,220Not available
8 BR$2,554Not available

Purchase Price Calculator

Maximum purchase price
$103,029

Cost breakdown

+Likely effective rent$1,110
HUD FMRUsed$1,110
Market rentN/A
Est. payment standardN/A
-Principal and interest-$521
Loan amount$82,423
Down payment$20,606
Rate6.50%
Term30 years
-Operating costs-$389
Property taxes-$103
Insurance-$175
Utilities$0
HOA$0
Management-$111
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,075(87.7% ROI)
Projected value
$110,951
Return breakdown
Property appreciation+$7,922
Loan principal paid down+$2,953
Rental cash flow+$7,200
5-year hold
+$30,805(149.5% ROI)
Projected value
$116,568
Return breakdown
Property appreciation+$13,539
Loan principal paid down+$5,266
Rental cash flow+$12,000
10-year hold
+$65,405(317.4% ROI)
Projected value
$131,886
Return breakdown
Property appreciation+$28,857
Loan principal paid down+$12,548
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 51366 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 51366 (Webb, IA) is $1,110 a month. That is down 1.8% from $1,130 in FY 2026. Webb is in the Clay 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 19 ZIP codes in Clay County, 51366 has the 4th-highest two-bedroom rent (county range $930–$1,520). The median county two-bedroom FMR in Iowa is $927, so ZIP 51366 is 20% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 51366
BedroomsFY 2027Change90–110% range
Studio$830−1.2%$747–$913
1BR$840−2.3%$756–$924
2BR$1,110−1.8%$999–$1,221
3BR$1,430−2.7%$1,287–$1,573
4BR$1,460−2.7%$1,314–$1,606

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 51366
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$830$840$1,110$1,430$1,460
FY 2026$840$860$1,130$1,470$1,500
FY 2025$810$840$1,090$1,380$1,440
FY 2024area FMR$630$700$862$1,142$1,148
FY 2023area FMR$542$657$811$1,100$1,154

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

Two-bedroom rent in nearby Clay County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 51366
51301$990−10.8%
51333$1,180+6.3%
51338$990−10.8%
51340$930−16.2%
51341$1,030−7.2%
51343$1,000−9.9%
51346$930−16.2%
51351$1,040−6.3%
51357$1,040−6.3%
51358$930−16.2%
51364$1,070−3.6%
51366Current$1,110—

Questions about ZIP 51366 rents

How much will Section 8 pay for a two-bedroom in ZIP 51366?

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 $1,110 it would be $999 to $1,221. 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 51366 in?

ZIP 51366 is in the Clay 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 51366 for FY 2027?

The two-bedroom FMR fell 1.8%, from $1,130 in FY 2026 to $1,110 in FY 2027. Since FY 2025 it has risen 1.8%.

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