The story of this market
The typical home in ZIP 50851 sells for about $145,000, or $108 per square foot.
Prices are up +3.6% from a year ago, so sellers still have some momentum. Homes take about 84 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $925 a month.
ZIP 50851 — Lenox
The housing market in 50851 is characterized by low inventory and slow, steady price appreciation. Market activity is limited by the rural nature of the area, with demand primarily driven by local residents. Current figures reflect a stable, low-turnover environment.
This ZIP is best suited for families and individuals seeking an affordable, quiet, small-town lifestyle, as well as local workers who prioritize low cost of living over proximity to major urban centers.
Median prices moved up 3.6% year over year.
Homes spend a median of 84 days on market with 6.0 months of supply — a balanced-paced market.
17% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.2% · poverty 9.8% — 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 4.4%/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 50851, Taylor County IA
Crime rates in Lenox are generally low, consistent with rural Taylor County trends and significantly below national averages for violent and property crime.
The area is served by the Lenox Community School District, which maintains a small-town educational environment with a focus on student-to-teacher ratios.
The region faces standard Midwestern climate risks, including seasonal severe thunderstorms and occasional high winds; flood risk is localized to specific low-lying areas near regional creeks.
The local economy is anchored by agriculture and small-scale manufacturing, with steady but slow economic momentum typical of rural Iowa communities.
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.
Commutes are primarily car-dependent, with residents typically driving to nearby regional employment hubs in Taylor or Adams counties.
Local amenities include community parks and access to rural outdoor recreation, with limited shopping and dining options concentrated in the Lenox city center.
The rental market is characterized by low inventory and stable demand, with limited turnover and minimal presence of institutional or short-term rental investors.
The economy is primarily driven by the agricultural sector, including crop production and livestock, supported by local small businesses and public services.
Transportation is entirely reliant on private vehicles, with no public transit infrastructure available in the area.
There are no major commercial or residential developments currently approved or under construction in the ZIP code.
The Taylor County Assessor manages property valuations, following Iowa's biennial assessment cycle for residential properties.
Parcels are subject to levies from the Lenox Community School District and Taylor County general funds.
Property insurance remains stable, though premiums are influenced by regional exposure to severe weather events common in the Midwest.
Data retrieved from US Census Bureau ZCTA 50851 profile.
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. Source: NCES EDGE public school locations 2023-24.
- McKinley Park4.412.1 mi
- Rainbow Park412.9 mi
- McKinley Park4.412.1 mi
- Rainbow Park412.9 mi
- Hy-Vee Grocery Store4.212.5 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Central community green space for local recreation.
Local nine-hole course serving the immediate area.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.