The story of this market
The typical home in ZIP 50588 sells for about $228,000, or $135 per square foot.
Prices are up +2.5% from a year ago, so sellers still have some momentum. Homes take about 45 days to sell. HUD's fair market rent for a two-bedroom is $897 a month.
ZIP 50588 — Storm Lake
The housing market in 50588 is characterized by steady demand and limited inventory, keeping prices stable. The local economy, anchored by food processing and education, provides a consistent base for housing demand. Current conditions reflect a balanced market where affordability remains a key driver for local buyers.
This ZIP is well-suited for families and workers employed in the local food processing and agricultural sectors. It offers an affordable entry point for first-time homebuyers and those seeking a community-focused lifestyle near a major recreational lake.
Median prices moved up 2.5% year over year.
Homes spend a median of 45 days on market with 3.2 months of supply — a fast-moving market.
12% of listings have cut prices · homes sell at 98% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.0% · poverty 7.7% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 50588, Buena Vista County IA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in Storm Lake are generally consistent with regional averages for rural Iowa communities, with property crime being the primary concern. Local law enforcement maintains a stable presence, and the area is considered safe relative to larger metropolitan centers.
The Storm Lake Community School District serves the area, offering a diverse student body and a range of academic programs. Schools are generally viewed as meeting state standards, with ongoing efforts to support a growing English-language learner population.
The area faces moderate risk from severe weather, including thunderstorms and occasional high winds. Flood risk is primarily concentrated near the Storm Lake shoreline, and standard property insurance coverage is readily available.
Economic momentum is driven by the food processing industry, specifically Tyson Foods, which serves as a major regional employer. Infrastructure development is focused on maintaining the lakefront as a recreational asset and supporting local agricultural commerce.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Iowa) — Iowa Property Tax Assessment Limitation: The taxable value is determined by applying an assessment limitation (rollback) to the assessed market value. The limitation is calculated annually to restrict the growth in aggregate taxable value for the residential class to 3% statewide.
Commuting is primarily car-dependent, with most residents working within Storm Lake or nearby agricultural hubs. The area lacks extensive public transit, but major highway access provides connectivity to regional employment centers.
The area is anchored by Storm Lake, which offers extensive boating, fishing, and swimming opportunities. Residents also enjoy access to the Storm Lake Marina, several public parks, and a local golf course, with basic retail shopping available in the city center.
The rental market is characterized by high demand due to the local workforce, leading to low vacancy rates. Rents have seen modest annual increases, with a mix of older single-family rentals and newer multi-family developments.
The economy is heavily anchored by the food processing industry, with Tyson Foods being the primary employer. Agriculture and related support services also play a significant role in the local economic mix.
Transportation is dominated by private vehicle use, with Highway 7 and Highway 110 serving as the primary corridors. There is no significant public transit infrastructure in the area.
Development is currently focused on small-scale residential infill and maintenance of existing infrastructure. There are no major large-scale commercial projects currently under construction.
The Buena Vista County Assessor manages property valuations, with assessments updated periodically to reflect market conditions. The office provides public access to property records and tax information.
Parcels are subject to levies from the Storm Lake Community School District and Buena Vista County. There are no significant MUD or PID districts impacting residential parcels in this area.
Property insurance remains stable, though premiums are influenced by regional exposure to severe weather events. Homeowners are encouraged to maintain adequate coverage for wind and hail damage.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- King's Pointe Resort4.10.3 mi
- King's Pointe Resort4.10.3 mi
- Awaysis Park4.60.3 mi
- Vista 34.31.4 mi
- Sunset Park4.51.2 mi
- Chautauqua Park4.60.7 mi
- Sunset Park4.51.2 mi
- Awaysis Park4.60.3 mi
- Sunset Park4.51.2 mi
- Chautauqua Park4.60.7 mi
- King's Pointe Resort4.10.3 mi
- Hy-Vee Grocery Store4.41.9 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A 3,200-acre lake providing boating, fishing, and swimming.
Public 18-hole course located along the lakefront.
Large park featuring trails, picnic areas, and lake access.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.