50032

ZIPSAFMR

Polk County, IA

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,160	$1,000	9.2%
1 BR	$1,200	$1,180	7.4%
2 BR	$1,430	$1,320	7.2%
3 BR	$1,950	$1,870	7.3%
4 BR	$1,990	$2,150	7.8%
5 BR	$2,289	Not available	7.8%
6 BR	$2,632	Not available	7.8%
7 BR	$3,027	Not available	7.8%
8 BR	$3,481	Not available	7.8%

Purchase Price Calculator

Maximum purchase price

$134,235

Cost breakdown

+Likely effective rent$1,320

HUD FMR$1,430

Market rentUsed$1,320

Est. payment standard (95%)$1,360

-Principal and interest-$679

Loan amount$107,388

Down payment$26,847

Rate6.50%

Term30 years

-Operating costs-$441

Property taxes-$134

Insurance-$175

Utilities$0

HOA$0

Management-$132

=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

+$21,369(79.6% ROI)

Projected value

$144,556

Return breakdown

Property appreciation+$10,321

Loan principal paid down+$3,847

Rental cash flow+$7,200

5-year hold

+$36,501(136.0% ROI)

Projected value

$151,875

Return breakdown

Property appreciation+$17,640

Loan principal paid down+$6,861

Rental cash flow+$12,000

10-year hold

+$77,946(290.3% ROI)

Projected value

$171,832

Return breakdown

Property appreciation+$37,597

Loan principal paid down+$16,349

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.16ratio

FMR$1,160

Market$1,000

vs market+$160

FMR is above market; underwrite to market rent.

1.16

1 BR

1.02ratio

FMR$1,200

Market$1,180

vs market+$20

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

1.02

2 BR

1.08ratio

FMR$1,430

Market$1,320

vs market+$110

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

1.08

3 BR

1.04ratio

FMR$1,950

Market$1,870

vs market+$80

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

1.04

4 BR

0.89ratio

FMR$1,990

Market$2,230

vs market-$240

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

0.89

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 50032 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 50032 (Berwick, IA) is $1,430 a month. That is up 2.9% from $1,390 in FY 2026. Berwick 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, 50032 is tied for the 10th-highest two-bedroom rent (county range $930–$1,790). The median county two-bedroom FMR in Iowa is $927, so ZIP 50032 is 54% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 50032
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,120	$1,160	+3.6%	$1,044–$1,276
1BR	$1,170	$1,200	+2.6%	$1,080–$1,320
2BR	$1,390	$1,430	+2.9%	$1,287–$1,573
3BR	$1,890	$1,950	+3.2%	$1,755–$2,145
4BR	$1,940	$1,990	+2.6%	$1,791–$2,189

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 50032
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,160	$1,200	$1,430	$1,950	$1,990
FY 2026	$1,120	$1,170	$1,390	$1,890	$1,940
FY 2025	$1,000	$1,070	$1,280	$1,720	$1,720
FY 2024	$890	$970	$1,160	$1,580	$1,590
FY 2023	$860	$970	$1,170	$1,600	$1,630

Two-bedroom rent in nearby Polk County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 50032
50007	$1,180	−17.5%
50009	$1,440	+0.7%
50021	$1,690	+18.2%
50023	$1,460	+2.1%
50032Current	$1,430	—
50035	$1,400	−2.1%
50046	$1,160	−18.9%
50047	$1,630	+14.0%
50054	$1,000	−30.1%
50061	$1,320	−7.7%
50073	$1,340	−6.3%
50109	$1,120	−21.7%

Questions about ZIP 50032 rents

How much will Section 8 pay for a two-bedroom in ZIP 50032?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,430, that basic range is $1,287 to $1,573 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 50032 in?

ZIP 50032 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 50032 for FY 2027?

The two-bedroom FMR rose 2.9%, from $1,390 in FY 2026 to $1,430 in FY 2027. Since FY 2023 it has risen 22.2%.

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