Housing market/Iowa/ZIP 51503
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.
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HUD schedule, ACS stock, and the 90–110% band for ZIP 51503 · IA — sent to you.
ZIP 51503 · IA
ACS rent vs 2BR SAFMR
ZIP 51503 — Council Bluffs, IA HUD Section 8 Payment Standards / SAFMR →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%
2–4 unit share 4.9% · 5–49 unit share 15.2% · combined 2–49 20.0%.
Units by bedrooms
Rent burden
- 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
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.