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Polk County/Cambridge/50046

50046

ZIPSAFMR
Polk County, IA
Zillow

ZIP Investment Score

57Below average

095130300
BRFMR
Eff. Rent
0 BR$960$1,060
1 BR$1,020$1,100
2 BR$1,160$1,230
3 BR$1,590$1,400
4 BR$1,860$1,540
5 BR$2,139Not available
6 BR$2,460Not available
7 BR$2,829Not available
8 BR$3,253Not available

Purchase Price Calculator

Maximum purchase price
$120,861

Cost breakdown

+Likely effective rent$1,230
HUD FMR$1,160
Market rent$1,260
Est. payment standard (106%)Used$1,230
-Principal and interest-$611
Loan amount$96,689
Down payment$24,172
Rate6.50%
Term30 years
-Operating costs-$419
Property taxes-$121
Insurance-$175
Utilities$0
HOA$0
Management-$123
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,957(82.6% ROI)
Projected value
$130,154
Return breakdown
Property appreciation+$9,293
Loan principal paid down+$3,464
Rental cash flow+$7,200
5-year hold
+$34,060(140.9% ROI)
Projected value
$136,743
Return breakdown
Property appreciation+$15,882
Loan principal paid down+$6,177
Rental cash flow+$12,000
10-year hold
+$72,571(300.2% ROI)
Projected value
$154,712
Return breakdown
Property appreciation+$33,851
Loan principal paid down+$14,720
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.86
1 BR
0.89
2 BR
0.92
3 BR
1.14
4 BR
1.21
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 50046 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 50046 (Cambridge, IA) is $1,160 a month. That is down 4.9% from $1,220 in FY 2026. Cambridge 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, 50046 is tied for the 44th-highest two-bedroom rent (county range $930–$1,790). The median county two-bedroom FMR in Iowa is $927, so ZIP 50046 is 25% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 50046
BedroomsFY 2027Change90–110% range
Studio$960−5.9%$864–$1,056
1BR$1,020−5.6%$918–$1,122
2BR$1,160−4.9%$1,044–$1,276
3BR$1,590−5.9%$1,431–$1,749
4BR$1,860−6.5%$1,674–$2,046

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 50046
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$960$1,020$1,160$1,590$1,860
FY 2026$1,020$1,080$1,220$1,690$1,990
FY 2025$900$980$1,100$1,520$1,780
FY 2024$860$930$1,050$1,480$1,730
FY 2023$810$880$1,010$1,430$1,670

Two-bedroom rent in nearby Polk County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 50046
50007$1,180+1.7%
50009$1,440+24.1%
50021$1,690+45.7%
50023$1,460+25.9%
50032$1,430+23.3%
50035$1,400+20.7%
50046Current$1,160—
50047$1,630+40.5%
50054$1,000−13.8%
50061$1,320+13.8%
50073$1,340+15.5%
50109$1,120−3.4%

Questions about ZIP 50046 rents

How much will Section 8 pay for a two-bedroom in ZIP 50046?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,160, that basic range is $1,044 to $1,276 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 50046 in?

ZIP 50046 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 50046 for FY 2027?

The two-bedroom FMR fell 4.9%, from $1,220 in FY 2026 to $1,160 in FY 2027. Since FY 2023 it has risen 14.9%.

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

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