The story of this market
The typical home in ZIP 51301 sells for about $199,000, or $135 per square foot.
Prices are down 4.38% from a year ago, which gives buyers more room to negotiate. Homes take about 14 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $805 a month.
ZIP 51301 — Spencer
The housing market in 51301 is characterized by stable, modest home values and low inventory levels. Market activity is limited, with very few new residential permits issued, reflecting a slow-growth environment driven by the local agricultural economy. Data for specific sales counts and tax rates is not currently published at the ZIP level.
This ZIP is well-suited for families and individuals seeking a quiet, rural-adjacent lifestyle with a lower cost of living, as well as those employed in the local agricultural and service sectors.
Median prices moved down 4.4% year over year.
Homes spend a median of 14 days on market with 0.0 months of supply — a fast-moving market.
0% of listings have cut prices · homes sell at 96% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.4% · poverty 13.1% — a stable, low-distress profile.
versus the prior ACS vintage
ZCTA 51301
The area is served by the Spencer Community School District, which provides public education for the city and surrounding rural areas.
The region is subject to standard Midwestern climate risks, including severe thunderstorms and occasional flooding, with insurance coverage typically managed through standard homeowner policies.
The local economy is anchored by agricultural lending and rural services, with limited new residential development activity as evidenced by low permit volumes.
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.
The area is primarily rural, with residents relying on personal vehicles for transit; commute times are generally short due to the proximity of residential areas to local employment hubs in Spencer.
The area features local parks and access to regional outdoor recreation, including proximity to the Iowa Great Lakes region for water-based activities and local shopping districts in Spencer.
The rental market is characterized by limited inventory and a median gross rent of approximately $805, with a significant portion of the housing stock being owner-occupied.
The economy is heavily influenced by the agricultural sector, with local banking and service industries providing the primary employment base.
Transportation is primarily highway-based, with no major public transit infrastructure serving the rural geography.
There are no major large-scale commercial or residential developments currently under construction or approved for the ZIP code.
Parcels are subject to standard county and school district levies, with no specific MUD or PID districts identified.
Property insurance premiums are influenced by regional weather patterns and the rural nature of the housing stock.
Data retrieved from Census Reporter and ACS 5-year 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. Source: NCES EDGE public school locations 2023-24.
Public golf facility serving the local community.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.