A new poll shows 2016 presidential candidates Donald Trump and Bernie Sanders have a good chance of winning the Iowa caucuses on Monday if they succeed in getting a high turnout of first-time caucusgoers.

First-time GOP caucus voters in Iowa have helped Trump rise in the polls in the Hawkeye State, giving him a 7-point lead over second place winner Ted Cruz, according to a Quinnipiac University poll released Monday morning. The poll shows that Trump has 31 percent of support compared to Cruz who has 24 percent.

Florida Sen. Marco Rubio came in third place with 17 percent, while retired neurosurgeon Ben Carson ranked fourth with 8 percent.

The survey also shows that Trump has a commanding lead over Cruz among first-time Iowa voters, as 40 percent say they will support the billionaire businessman, while just 22 percent are standing behind the Texas senator.

Likewise, first-time Democratic caucusgoers have boosted Sanders' ranking in Iowa polls. The Quinnipiac survey found the Vermont senator with a 3-point lead over Hillary Clinton, 49 to 46 percent. Meanwhile, former Maryland Gov. Martin O'Malley gained just 3 percent of support.

Sanders' support soared to a 27-point lead over the Democratic front-runner among first-time voters: 62 to 35 percent. On the other hand, Clinton holds a 9-point lead among those who have caucused before in the Quinnipiac survey, which was conducted from Jan. 25 to Jan. 31.

"The size of the turnout tonight will likely be the key factor, especially on the Democratic side," said Peter A. Brown, assistant director of the Quinnipiac University Poll, in a statement. "High turnouts with lots of new caucus participants likely would mean a good night for Sen. Bernie Sanders, and for Donald Trump."

A recent poll by Emerson College shows Trump on top of the Republican field with 27 percent support from Hawkeye State Republican voters. Cruz followed closely at 26 percent while Rubio has 22 percent.

Among Democrats, Clinton led Sanders 51 to 43 percent in the Emerson College poll conducted between Friday and Sunday.