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Mills County/Pacific Junction/51561

51561

ZIPSAFMR
Mills County, IA
Zillow

ZIP Investment Score

83Below average

095130300
BRFMR
Eff. Rent
0 BR$950$960
1 BR$1,000$1,050
2 BR$1,190$1,260
3 BR$1,580$1,490
4 BR$1,780$1,560
5 BR$2,047Not available
6 BR$2,354Not available
7 BR$2,707Not available
8 BR$3,113Not available

Purchase Price Calculator

Maximum purchase price
$125,319

Cost breakdown

+Likely effective rent$1,260
HUD FMR$1,190
Market rent$1,290
Est. payment standard (105%)Used$1,260
-Principal and interest-$634
Loan amount$100,255
Down payment$25,064
Rate6.50%
Term30 years
-Operating costs-$426
Property taxes-$125
Insurance-$175
Utilities$0
HOA$0
Management-$126
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,428(81.5% ROI)
Projected value
$134,955
Return breakdown
Property appreciation+$9,636
Loan principal paid down+$3,592
Rental cash flow+$7,200
5-year hold
+$34,873(139.1% ROI)
Projected value
$141,787
Return breakdown
Property appreciation+$16,468
Loan principal paid down+$6,405
Rental cash flow+$12,000
10-year hold
+$74,363(296.7% ROI)
Projected value
$160,419
Return breakdown
Property appreciation+$35,100
Loan principal paid down+$15,263
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.99
1 BR
0.93
2 BR
0.92
3 BR
1.06
4 BR
1.14
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 51561 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 51561 (Pacific Junction, IA) is $1,190 a month. That is down 9.8% from $1,320 in FY 2026. Pacific Junction 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 13 ZIP codes in Mills County, 51561 is tied for the 4th-highest two-bedroom rent (county range $1,010–$1,310). The median county two-bedroom FMR in Iowa is $927, so ZIP 51561 is 28% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 51561
BedroomsFY 2027Change90–110% range
Studio$950−9.5%$855–$1,045
1BR$1,000−9.9%$900–$1,100
2BR$1,190−9.8%$1,071–$1,309
3BR$1,580−9.7%$1,422–$1,738
4BR$1,780−9.6%$1,602–$1,958

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 51561
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$950$1,000$1,190$1,580$1,780
FY 2026$1,050$1,110$1,320$1,750$1,970
FY 2025$960$1,020$1,220$1,620$1,800
FY 2024$840$910$1,100$1,470$1,630
FY 2023$760$840$1,030$1,380$1,530

Two-bedroom rent in nearby Mills County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 51561
51503$1,230+3.4%
51533$1,310+10.1%
51534$1,090−8.4%
51540$1,160−2.5%
51541$1,120−5.9%
51549$1,010−15.1%
51551$1,110−6.7%
51554$1,110−6.7%
51561Current$1,190—
51571$1,180−0.8%
51645$1,090−8.4%
51649$1,290+8.4%

Questions about ZIP 51561 rents

How much will Section 8 pay for a two-bedroom in ZIP 51561?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,190, that basic range is $1,071 to $1,309 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 51561 in?

ZIP 51561 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 51561 for FY 2027?

The two-bedroom FMR fell 9.8%, from $1,320 in FY 2026 to $1,190 in FY 2027. Since FY 2023 it has risen 15.5%.

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