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Pottawattamie County/Walnut/51577

51577

ZIPSAFMR
Pottawattamie County, IA
Zillow

ZIP Investment Score

129Above average

095130300
BRFMR
Eff. Rent
0 BR$820$820
1 BR$860$860
2 BR$1,020$1,020
3 BR$1,350$1,350
4 BR$1,530$1,530
5 BR$1,759Not available
6 BR$2,023Not available
7 BR$2,327Not available
8 BR$2,676Not available

Purchase Price Calculator

Maximum purchase price
$89,655

Cost breakdown

+Likely effective rent$1,020
HUD FMRUsed$1,020
Market rentN/A
Est. payment standardN/A
-Principal and interest-$453
Loan amount$71,724
Down payment$17,931
Rate6.50%
Term30 years
-Operating costs-$367
Property taxes-$90
Insurance-$175
Utilities$0
HOA$0
Management-$102
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$16,663(92.9% ROI)
Projected value
$96,549
Return breakdown
Property appreciation+$6,894
Loan principal paid down+$2,570
Rental cash flow+$7,200
5-year hold
+$28,364(158.2% ROI)
Projected value
$101,437
Return breakdown
Property appreciation+$11,781
Loan principal paid down+$4,582
Rental cash flow+$12,000
10-year hold
+$60,030(334.8% ROI)
Projected value
$114,766
Return breakdown
Property appreciation+$25,111
Loan principal paid down+$10,919
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
--
Tax rate
--
Mortgage rate
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ZIP 51577 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 51577 (Walnut, IA) is $1,020 a month. That is up 5.2% from $970 in FY 2026. Walnut 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, 51577 has the 18th-highest two-bedroom rent (county range $1,010–$1,460). The median county two-bedroom FMR in Iowa is $927, so ZIP 51577 is 10% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 51577
BedroomsFY 2027Change90–110% range
Studio$820+6.5%$738–$902
1BR$860+6.2%$774–$946
2BR$1,020+5.2%$918–$1,122
3BR$1,350+5.5%$1,215–$1,485
4BR$1,530+5.5%$1,377–$1,683

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 51577
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$820$860$1,020$1,350$1,530
FY 2026$770$810$970$1,280$1,450
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. 51577
51549$1,010−1.0%
51552$1,010−1.0%
51553$1,010−1.0%
51555$1,050+2.9%
51559$1,180+15.7%
51560$1,140+11.8%
51566$1,010−1.0%
51570$1,010−1.0%
51571$1,180+15.7%
51575$1,340+31.4%
51576$1,170+14.7%
51577Current$1,020—

Questions about ZIP 51577 rents

How much will Section 8 pay for a two-bedroom in ZIP 51577?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,020, that basic range is $918 to $1,122 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 51577 in?

ZIP 51577 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 51577 for FY 2027?

The two-bedroom FMR rose 5.2%, from $970 in FY 2026 to $1,020 in FY 2027. Since FY 2023 it has risen 15.9%.

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