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Housing market/Iowa/ZIP 51503

ACS 2023 · FY2027 SAFMR

ZIP 51503 Council Bluffs, Iowa

Omaha-Council Bluffs, NE-IA HUD Metro FMR Area · Iowa. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
37,411
Households
15,250
Median HH income
$76,064
Renter share
32.0%
Median gross rent
$964
Vacancy
5.6%
Pop. change
+0.9%
2BR SAFMR
$1,230
SAFMR / rent
1.276×
2–49 unit stock
3,236
LIHTC proj / units
13 / 548
HUD assisted MF
6 / 346

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 51503 · IA — sent to you.

ZIP 51503 · IA

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ACS rent vs 2BR SAFMR

ZIP 51503 — Council Bluffs, IA HUD Section 8 Payment Standards / SAFMR →
ACS median rent$964
2BR SAFMR$1,230
90% floor$1,107
110% ceiling$1,353

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 51503

  • 1-unit detached11,51571.3%
  • 1-unit attached4742.9%
  • 2–4 units7874.9%
  • 5–49 units2,44915.2%
  • 50+ units7124.4%
  • Mobile2051.3%
TypeUnitsShare
1-unit detached11,51571.3%
1-unit attached4742.9%
2 units (duplex)4122.6%
3–4 units3752.3%
5–9 units4502.8%
10–19 units1,3068.1%
20–49 units6934.3%
50+ units7124.4%
Mobile2051.3%

2–4 unit share 4.9% · 5–49 unit share 15.2% · combined 2–49 20.0%.

Units by bedrooms

Studio
487
1BR
1,639
2BR
4,093
3BR
6,418
4BR
2,631
5+
886

Rent burden

Rent ≥30% of income46.5%
Rent ≥50% of income19.4%
  • ACS median gross rent $964 (all bedrooms, occupied rentals).
  • Median contract rent $842.
  • Renters paying ≥30% of income 46.5%; ≥50% 19.4%.
  • FY2027 2BR SAFMR $1,230 (1.276× ACS median gross rent).

Population

37,411 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +0.9%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 13 projects, 548 units.
  • HUD project-based assisted MF: 6 properties, 346 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 203 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 51503 32.0% of occupied households are renters; vacancy is 5.6%; ACS median gross rent is $964; population increased +0.9% between the 2018 and 2023 ACS vintages; the housing stock includes 787 units in 2–4-unit structures and 2,449 units in 5–49-unit structures; 13 LIHTC projects totaling 548 units; FY2027 2BR SAFMR is $1,230 versus ACS median gross rent of $964. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

Iowa research

ZIP 51503 is a Census / HUD profile for Omaha-Council Bluffs, NE-IA, IA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 51503 — Council Bluffs, IA HUD Section 8 Payment Standards / SAFMR·Iowa ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
51501Omaha-Council Bluffs, NE-IA HUD Metro FMR Area33.8%$997$1,31051510Omaha-Council Bluffs, NE-IA HUD Metro FMR Area15.7%$1,115$1,46051525Omaha-Council Bluffs, NE-IA HUD Metro FMR Area18.4%$696$1,01051526Omaha-Council Bluffs, NE-IA HUD Metro FMR Area9.5%$593$1,23051534Omaha-Council Bluffs, NE-IA HUD Metro FMR Area16.8%$838$1,09051536Omaha-Council Bluffs, NE-IA HUD Metro FMR Area10.5%$794$1,06051540Omaha-Council Bluffs, NE-IA HUD Metro FMR Area12.5%—$1,16051542Omaha-Council Bluffs, NE-IA HUD Metro FMR Area5.0%—$1,09051546Omaha-Council Bluffs, NE-IA HUD Metro FMR Area19.6%$847$1,09051548Omaha-Council Bluffs, NE-IA HUD Metro FMR Area2.4%—$1,20051550Omaha-Council Bluffs, NE-IA HUD Metro FMR Area9.2%—$1,07051553Omaha-Council Bluffs, NE-IA HUD Metro FMR Area11.1%$700$1,010

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Iowa research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 51503?

ZIP 51503 (Omaha-Council Bluffs, NE-IA HUD Metro FMR Area) has 37,411 residents, 15,250 households, a renter share of 32.0%, median household income of $76,064, and ACS 2023 median gross rent of $964. Vacancy is 5.6%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 51503?

ACS counts 412 units in 2-unit buildings, 375 in 3–4 unit buildings, 450 in 5–9, 1,306 in 10–19, and 693 in 20–49. Combined 2–49 unit stock is 3,236 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 51503?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,230. See the full schedule and 90–110% payment-standard band on the ZIP 51503 — Council Bluffs, IA HUD Section 8 Payment Standards / SAFMR.

Does this Iowa ZIP profile include Georgia listings?

No. ZIP 51503 is Census / HUD research for Omaha-Council Bluffs, NE-IA HUD Metro FMR Area. Jeff Crowe CRE does not list Iowa property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.