Yes and that provides for 252 possible IP addresses so that is not the problem. On your iPhone > Settings > WiFi > the blue arrow by your network, what do you have for:
  1. which tab is highlighted
    1. DHCP
    2. BootP
    3. Static
  2. IP address:
  3. Subnet Mask:
  4. Router:
  5. DNS:
  6. Search Domains:

If we knew what it was we were doing, it wouldn't be called research, would it?

— Albert Einstein