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Carroll County/Lake City/51449

51449

ZIPSAFMR
Carroll County, IA
Zillow

ZIP Investment Score

83Below average

095130300
BRFMR
Eff. Rent
0 BR$700$700
1 BR$740$740
2 BR$940$940
3 BR$1,160$1,160
4 BR$1,340$1,340
5 BR$1,541Not available
6 BR$1,772Not available
7 BR$2,038Not available
8 BR$2,344Not available

Purchase Price Calculator

Maximum purchase price
$77,767

Cost breakdown

+Likely effective rent$940
HUD FMRUsed$940
Market rentN/A
Est. payment standardN/A
-Principal and interest-$393
Loan amount$62,214
Down payment$15,553
Rate6.50%
Term30 years
-Operating costs-$347
Property taxes-$78
Insurance-$175
Utilities$0
HOA$0
Management-$94
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,409(99.1% ROI)
Projected value
$83,747
Return breakdown
Property appreciation+$5,980
Loan principal paid down+$2,229
Rental cash flow+$7,200
5-year hold
+$26,194(168.4% ROI)
Projected value
$87,986
Return breakdown
Property appreciation+$10,219
Loan principal paid down+$3,975
Rental cash flow+$12,000
10-year hold
+$55,253(355.2% ROI)
Projected value
$99,548
Return breakdown
Property appreciation+$21,781
Loan principal paid down+$9,471
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 51449 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 51449 (Lake City, IA) is $940 a month. That is up 1.1% from $930 in FY 2026. Lake City is in the Carroll 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 20 ZIP codes in Carroll County, 51449 is tied for the 10th-highest two-bedroom rent (county range $930–$1,170). The median county two-bedroom FMR in Iowa is $927, so ZIP 51449 is 1% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 51449
BedroomsFY 2027Change90–110% range
Studio$700+1.4%$630–$770
1BR$740−1.3%$666–$814
2BR$940+1.1%$846–$1,034
3BR$1,160−1.7%$1,044–$1,276
4BR$1,340+3.1%$1,206–$1,474

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 51449
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$700$740$940$1,160$1,340
FY 2026$690$750$930$1,180$1,300
FY 2025$650$700$890$1,120$1,260
FY 2024area FMR$586$656$862$1,119$1,148
FY 2023area FMR$551$604$795$1,064$1,068

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

Two-bedroom rent in nearby Carroll County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 51449
51436$970+3.2%
51440$930−1.1%
51443$930−1.1%
51444$9400.0%
51449Current$940—
51451$970+3.2%
51452$930−1.1%
51453$1,170+24.5%
51455$930−1.1%
51459$970+3.2%
51462$1,000+6.4%
51463$930−1.1%

Questions about ZIP 51449 rents

How much will Section 8 pay for a two-bedroom in ZIP 51449?

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 $940 it would be $846 to $1,034. 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 51449 in?

ZIP 51449 is in the Carroll 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 51449 for FY 2027?

The two-bedroom FMR rose 1.1%, from $930 in FY 2026 to $940 in FY 2027. Since FY 2025 it has risen 5.6%.

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