FMR is below market; voucher rent may lag private rents.
0.81
1 BR
1 BR- 50038
0.77ratio
FMR$1,060
Market$1,370
vs market-$310
FMR is below market; voucher rent may lag private rents.
0.77
2 BR
2 BR- 50038
0.77ratio
FMR$1,260
Market$1,630
vs market-$370
FMR is below market; voucher rent may lag private rents.
0.77
3 BR
3 BR- 50038
0.83ratio
FMR$1,720
Market$2,080
vs market-$360
FMR is below market; voucher rent may lag private rents.
0.83
4 BR
4 BR- 50038
0.69ratio
FMR$1,760
Market$2,560
vs market-$800
FMR is below market; voucher rent may lag private rents.
0.69
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
Booneville, IA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Booneville, IA is $1,260 a month. That is up 5.0% from $1,200 in FY 2026. Booneville is in the Des Moines-West Des Moines, IA HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Iowa is $927, so Booneville is 36% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Booneville, IA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$970
$1,020
+5.2%
$918–$1,122
1BR
$1,010
$1,060
+5.0%
$954–$1,166
2BR
$1,200
$1,260
+5.0%
$1,134–$1,386
3BR
$1,630
$1,720
+5.5%
$1,548–$1,892
4BR
$1,680
$1,760
+4.8%
$1,584–$1,936
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Booneville, IA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,020
$1,060
$1,260
$1,720
$1,760
FY 2026
$970
$1,010
$1,200
$1,630
$1,680
FY 2025
$860
$910
$1,100
$1,480
$1,480
FY 2024
$820
$880
$1,060
$1,440
$1,450
FY 2023
$840
$940
$1,140
$1,560
$1,590
Questions about Booneville, IA rents
How much will Section 8 pay for a two-bedroom in Booneville, IA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,260, that basic range is $1,134 to $1,386 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Booneville, IA in?
Booneville, IA is in the Des Moines-West Des Moines, IA HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Booneville, IA for FY 2027?
The two-bedroom FMR rose 5.0%, from $1,200 in FY 2026 to $1,260 in FY 2027. Since FY 2023 it has risen 10.5%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set