The story of this market
The typical home in ZIP 51566 sells for about $145,000, or $115 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 65 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $829 a month.
ZIP 51566 — Red Oak
The housing market in 51566 is characterized by high affordability and low inventory, with prices showing modest year-over-year growth. Market activity is steady, driven by local demand rather than speculative investment, resulting in a balanced environment for buyers and sellers.
This ZIP is well-suited for budget-conscious family buyers and those seeking a quiet, small-town lifestyle with affordable housing options.
Median prices moved up 2.1% year over year.
Homes spend a median of 65 days on market with 6.1 months of supply — a balanced-paced market.
12% 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 17.2% — 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 4.8%/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 2.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 51566, Montgomery 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 Red Oak are generally low and consistent with rural Iowa trends, with property crime being the primary concern compared to violent crime.
The area is served by the Red Oak Community School District, which provides standard public education services for the region.
The region faces moderate risks from severe thunderstorms and occasional flooding near local waterways, with standard insurance coverage recommended.
Economic momentum is driven by local manufacturing and agricultural support services, with steady but modest development activity.
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 traveling to local employment hubs within Montgomery County or nearby regional centers.
The area features local parks, community sports facilities, and proximity to rural outdoor recreation areas, with basic shopping and dining located in downtown Red Oak.
The rental market is characterized by limited inventory and stable demand, primarily serving local workers and small families.
The economy is anchored by manufacturing, agriculture, and local government services, providing a stable employment base for the county.
Transportation is dominated by private vehicle use, with access to regional highways connecting to larger Iowa cities.
Development is focused on small-scale residential infill and maintenance of existing infrastructure.
The Montgomery County Assessor manages property valuations based on state-mandated assessment cycles.
Parcels are subject to Red Oak Community School District levies and county-wide service districts.
Property insurance remains available, though premiums are influenced by regional weather patterns and hazard exposure.
Data retrieved from Census ACS 2024 5-year estimates for ZCTA 51566.
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.
Central community park offering green space and recreational facilities.
Local cultural institution preserving regional history.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.