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IA/Polk County/Mitchellville

Mitchellville, IA

CitySAFMR
Polk County
Found 1 ZIP

City Median Investment Score

57Below average

095130300
BRFMR
Eff. Rent
0 BR$770$850
1 BR$800$880
2 BR$960$1,060
3 BR$1,300$1,430
4 BR$1,340$1,470
5 BR$1,541Not available
6 BR$1,772Not available
7 BR$2,038Not available
8 BR$2,344Not available

Purchase Price Calculator

Maximum purchase price
$95,599

Cost breakdown

+Likely effective rent$1,060
HUD FMR$960
Market rent$1,750
Est. payment standard (110%)Used$1,060
-Principal and interest-$483
Loan amount$76,479
Down payment$19,120
Rate6.50%
Term30 years
-Operating costs-$377
Property taxes-$96
Insurance-$175
Utilities$0
HOA$0
Management-$106
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,291(90.4% ROI)
Projected value
$102,950
Return breakdown
Property appreciation+$7,351
Loan principal paid down+$2,740
Rental cash flow+$7,200
5-year hold
+$29,449(154.0% ROI)
Projected value
$108,162
Return breakdown
Property appreciation+$12,563
Loan principal paid down+$4,886
Rental cash flow+$12,000
10-year hold
+$62,419(326.5% ROI)
Projected value
$122,375
Return breakdown
Property appreciation+$26,776
Loan principal paid down+$11,643
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.53
1 BR
0.58
2 BR
0.55
3 BR
0.62
4 BR
0.60
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

Mitchellville, IA fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Mitchellville, IA is $960 a month. That is unchanged from FY 2026. Mitchellville 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 Mitchellville is 4% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Mitchellville, IA
BedroomsFY 2027Change90–110% range
Studio$7700.0%$693–$847
1BR$8000.0%$720–$880
2BR$9600.0%$864–$1,056
3BR$1,300−0.8%$1,170–$1,430
4BR$1,3400.0%$1,206–$1,474

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Mitchellville, IA
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$770$800$960$1,300$1,340
FY 2026$770$800$960$1,310$1,340
FY 2025$750$810$980$1,330$1,340
FY 2024$720$810$970$1,330$1,350
FY 2023$620$700$850$1,160$1,230

Questions about Mitchellville, IA rents

How much will Section 8 pay for a two-bedroom in Mitchellville, IA?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $960, that basic range is $864 to $1,056 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 Mitchellville, IA in?

Mitchellville, 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 Mitchellville, IA for FY 2027?

The two-bedroom FMR was unchanged at $960 in FY 2027. Since FY 2023 it has risen 12.9%.

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