FY2027 Small Area FMR · Okoboji, IA

ZIP 51355 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 51355 (Okoboji, IA) is $1,120 a month, down 0.9% from FY2026. That is 3% above the Dickinson County, IA area-wide FMR of $1,091.

2-bedroom SAFMR$1,120per month ▼ 0.9%

Area-wide 2 BR FMR$1,091Dickinson County, IA

Rank in the area4thof 12 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,008

2 BR Small Area FMR$1,120

110% of SAFMR$1,232

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$850▼ 1.2%

1 BR$860■ 0.0%

2 BR$1,120▼ 0.9%

3 BR$1,460▲ 7.4%

4 BR$1,470▼ 2.0%

FY2027 FY2026

Where 51355 sits in the Dickinson County, IA area

Of the 12 ZIP codes HUD lists for the area, 51355 has the 4th highest two-bedroom Small Area FMR. Dickinson County, IA is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,091 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,120 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$850	$765 – $935	$829	$860
1 bedroom	$860	$774 – $946	$834	$860
2 bedrooms	$1,120	$1,008 – $1,232	$1,091	$1,130
3 bedrooms	$1,460	$1,314 – $1,606	$1,424	$1,360
4 bedrooms	$1,470	$1,323 – $1,617	$1,434	$1,500

A household renting a two-bedroom home at the Small Area FMR of $1,120 needs about $44,800 a year to keep housing costs at 30% of income. The area median family income is $110,100 and the 80% low-income limit for four people is $88,100. ZIP code 51355 lies mainly in Dickinson County. See the Dickinson County, IA county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
51331	Arnolds Park	2.0 mi	$1,070
51360	Spirit Lake	4.5 mi	$1,130
51351	Milford	5.6 mi	$1,040
51347	Lake Park	9.6 mi	$1,130
51363	Superior	9.8 mi	$990
51364	Terril	10.4 mi	$1,070

Questions

What is the Fair Market Rent for ZIP code 51355?

HUD's FY2027 Small Area Fair Market Rents for 51355 are $850 (studio), $860 (1 BR), $1,120 (2 BR), $1,460 (3 BR) and $1,470 (4 BR) a month.

What is the Section 8 payment standard in 51355?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 51355 that range is $1,008 to $1,232 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 51355?

The FY2026 income limits of the Dickinson County, IA area apply: median family income $110,100, low-income (80%) limit $88,100 for a family of four.