50011

ZIPSAFMR

Story County, IA

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$890	$940	1.9%
1 BR	$940	$950	0.7%
2 BR	$1,060	$990	1.0%
3 BR	$1,470	$1,560	0.5%
4 BR	$1,770	$1,950	0.4%
5 BR	$2,035	Not available	0.4%
6 BR	$2,341	Not available	0.4%
7 BR	$2,692	Not available	0.4%
8 BR	$3,096	Not available	0.4%

Purchase Price Calculator

Maximum purchase price

$85,197

Cost breakdown

+Likely effective rent$990

HUD FMR$1,060

Market rentUsed$990

Est. payment standard (96%)$1,010

-Principal and interest-$431

Loan amount$68,158

Down payment$17,039

Rate6.50%

Term30 years

-Operating costs-$359

Property taxes-$85

Insurance-$175

Utilities$0

HOA$0

Management-$99

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$16,193(95.0% ROI)

Projected value

$91,748

Return breakdown

Property appreciation+$6,551

Loan principal paid down+$2,442

Rental cash flow+$7,200

5-year hold

+$27,550(161.7% ROI)

Projected value

$96,393

Return breakdown

Property appreciation+$11,196

Loan principal paid down+$4,355

Rental cash flow+$12,000

10-year hold

+$58,239(341.8% ROI)

Projected value

$109,059

Return breakdown

Property appreciation+$23,862

Loan principal paid down+$10,376

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.93ratio

FMR$890

Market$960

vs market-$70

FMR is near market; voucher and private rents are aligned.

0.93

1 BR

0.99ratio

FMR$940

Market$950

vs market-$10

FMR is near market; voucher and private rents are aligned.

0.99

2 BR

1.07ratio

FMR$1,060

Market$990

vs market+$70

FMR is near market; voucher and private rents are aligned.

1.07

3 BR

0.91ratio

FMR$1,470

Market$1,610

vs market-$140

FMR is near market; voucher and private rents are aligned.

0.91

4 BR

0.79ratio

FMR$1,770

Market$2,250

vs market-$480

FMR is below market; voucher rent may lag private rents.

0.79

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: --

ZIP 50011 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 50011 (Ames, IA) is $1,060 a month. That is down 7.8% from $1,150 in FY 2026. Ames is in the Ames, IA HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,061. Among 26 ZIP codes in Story County, 50011 has the 9th-highest two-bedroom rent (county range $930–$1,350). The median county two-bedroom FMR in Iowa is $927, so ZIP 50011 is 14% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 50011
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$970	$890	−8.2%	$801–$979
1BR	$1,020	$940	−7.8%	$846–$1,034
2BR	$1,150	$1,060	−7.8%	$954–$1,166
3BR	$1,600	$1,470	−8.1%	$1,323–$1,617
4BR	$1,930	$1,770	−8.3%	$1,593–$1,947

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 50011
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$890	$940	$1,060	$1,470	$1,770
FY 2026	$970	$1,020	$1,150	$1,600	$1,930
FY 2025	$880	$950	$1,060	$1,480	$1,780
FY 2024	$840	$920	$1,030	$1,450	$1,750
FY 2023	$800	$860	$980	$1,390	$1,670

Two-bedroom rent in nearby Story County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 50011
50010	$1,080	+1.9%
50011Current	$1,060	—
50012	$1,180	+11.3%
50013	$1,200	+13.2%
50014	$1,210	+14.2%
50046	$1,160	+9.4%
50055	$1,040	−1.9%
50056	$1,040	−1.9%
50105	$1,040	−1.9%
50122	$1,040	−1.9%
50124	$1,350	+27.4%
50134	$1,040	−1.9%

Questions about ZIP 50011 rents

How much will Section 8 pay for a two-bedroom in ZIP 50011?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,061, which applies unless the housing authority uses Small Area FMRs, that basic range is $955 to $1,167 a month; under the ZIP-level Small Area FMR of $1,060 it would be $954 to $1,166. 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 50011 in?

ZIP 50011 is in the Ames, IA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,061.

How much did fair market rent change in ZIP 50011 for FY 2027?

The two-bedroom FMR fell 7.8%, from $1,150 in FY 2026 to $1,060 in FY 2027. Since FY 2023 it has risen 8.2%.

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 rent Ames, IA fair market rent IA statewide rents What is SAFMR?Data sources