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Polk County/Alleman/50007

50007

ZIPSAFMR
Polk County, IA
Zillow

ZIP Investment Score

56Below average

095130300
BRFMR
Eff. Rent
0 BR$980$1,080
1 BR$1,020$1,100
2 BR$1,180$1,300
3 BR$1,620$1,780
4 BR$1,830$2,010
5 BR$2,105Not available
6 BR$2,420Not available
7 BR$2,783Not available
8 BR$3,201Not available

Purchase Price Calculator

Maximum purchase price
$131,263

Cost breakdown

+Likely effective rent$1,300
HUD FMR$1,180
Market rent$1,760
Est. payment standard (110%)Used$1,300
-Principal and interest-$664
Loan amount$105,010
Down payment$26,253
Rate6.50%
Term30 years
-Operating costs-$436
Property taxes-$131
Insurance-$175
Utilities$0
HOA$0
Management-$130
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,055(80.2% ROI)
Projected value
$141,356
Return breakdown
Property appreciation+$10,093
Loan principal paid down+$3,762
Rental cash flow+$7,200
5-year hold
+$35,958(137.0% ROI)
Projected value
$148,512
Return breakdown
Property appreciation+$17,249
Loan principal paid down+$6,709
Rental cash flow+$12,000
10-year hold
+$76,751(292.4% ROI)
Projected value
$168,028
Return breakdown
Property appreciation+$36,765
Loan principal paid down+$15,987
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.78
1 BR
0.89
2 BR
0.67
3 BR
0.79
4 BR
0.71
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 50007 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 50007 (Alleman, IA) is $1,180 a month. That is down 4.8% from $1,240 in FY 2026. Alleman 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. Among 55 ZIP codes in Polk County, 50007 is tied for the 42nd-highest two-bedroom rent (county range $930–$1,790). The median county two-bedroom FMR in Iowa is $927, so ZIP 50007 is 27% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 50007
BedroomsFY 2027Change90–110% range
Studio$980−3.9%$882–$1,078
1BR$1,020−4.7%$918–$1,122
2BR$1,180−4.8%$1,062–$1,298
3BR$1,620−4.7%$1,458–$1,782
4BR$1,830−3.2%$1,647–$2,013

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 50007
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$980$1,020$1,180$1,620$1,830
FY 2026$1,020$1,070$1,240$1,700$1,890
FY 2025$900$970$1,110$1,520$1,680
FY 2024$830$900$1,050$1,460$1,590
FY 2023$790$870$1,030$1,430$1,560

Two-bedroom rent in nearby Polk County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 50007
50007Current$1,180—
50009$1,440+22.0%
50021$1,690+43.2%
50023$1,460+23.7%
50032$1,430+21.2%
50035$1,400+18.6%
50046$1,160−1.7%
50047$1,630+38.1%
50054$1,000−15.3%
50061$1,320+11.9%
50073$1,340+13.6%
50109$1,120−5.1%

Questions about ZIP 50007 rents

How much will Section 8 pay for a two-bedroom in ZIP 50007?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,180, that basic range is $1,062 to $1,298 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 ZIP 50007 in?

ZIP 50007 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 ZIP 50007 for FY 2027?

The two-bedroom FMR fell 4.8%, from $1,240 in FY 2026 to $1,180 in FY 2027. Since FY 2023 it has risen 14.6%.

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

County fair market rentAlleman, IA fair market rentIA statewide rentsWhat is SAFMR?Data sources