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Pottawattamie County/Griswold/51535

51535

ZIPSAFMR
Pottawattamie County, IA
Zillow

ZIP Investment Score

124Above average

095130300
BRFMR
Eff. Rent
0 BR$830$830
1 BR$870$870
2 BR$1,090$1,090
3 BR$1,500$1,500
4 BR$1,770$1,770
5 BR$2,035Not available
6 BR$2,341Not available
7 BR$2,692Not available
8 BR$3,096Not available

Purchase Price Calculator

Maximum purchase price
$100,057

Cost breakdown

+Likely effective rent$1,090
HUD FMRUsed$1,090
Market rentN/A
Est. payment standardN/A
-Principal and interest-$506
Loan amount$80,046
Down payment$20,011
Rate6.50%
Term30 years
-Operating costs-$384
Property taxes-$100
Insurance-$175
Utilities$0
HOA$0
Management-$109
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,761(88.8% ROI)
Projected value
$107,751
Return breakdown
Property appreciation+$7,693
Loan principal paid down+$2,868
Rental cash flow+$7,200
5-year hold
+$30,262(151.2% ROI)
Projected value
$113,205
Return breakdown
Property appreciation+$13,148
Loan principal paid down+$5,114
Rental cash flow+$12,000
10-year hold
+$64,210(320.9% ROI)
Projected value
$128,081
Return breakdown
Property appreciation+$28,024
Loan principal paid down+$12,186
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 51535 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 51535 (Griswold, IA) is $1,090 a month. That is up 6.9% from $1,020 in FY 2026. Griswold is in the Omaha-Council Bluffs, NE-IA HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 26 ZIP codes in Pottawattamie County, 51535 is tied for the 12th-highest two-bedroom rent (county range $1,010–$1,460). The median county two-bedroom FMR in Iowa is $927, so ZIP 51535 is 18% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 51535
BedroomsFY 2027Change90–110% range
Studio$830+9.2%$747–$913
1BR$870+8.8%$783–$957
2BR$1,090+6.9%$981–$1,199
3BR$1,500+7.1%$1,350–$1,650
4BR$1,770+8.6%$1,593–$1,947

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 51535
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$830$870$1,090$1,500$1,770
FY 2026$760$800$1,020$1,400$1,630
FY 2025$810$880$1,060$1,410$1,560
FY 2024$730$800$980$1,310$1,450
FY 2023$630$720$880$1,180$1,320

Two-bedroom rent in nearby Pottawattamie County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 51535
51521$1,070−1.8%
51525$1,010−7.3%
51526$1,230+12.8%
51532$1,010−7.3%
51534$1,0900.0%
51535Current$1,090—
51536$1,060−2.8%
51541$1,120+2.8%
51542$1,0900.0%
51544$1,010−7.3%
51548$1,200+10.1%
51549$1,010−7.3%

Questions about ZIP 51535 rents

How much will Section 8 pay for a two-bedroom in ZIP 51535?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,090, that basic range is $981 to $1,199 a month. 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 51535 in?

ZIP 51535 is in the Omaha-Council Bluffs, NE-IA HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 51535 for FY 2027?

The two-bedroom FMR rose 6.9%, from $1,020 in FY 2026 to $1,090 in FY 2027. Since FY 2023 it has risen 23.9%.

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