Skip to main content
Loading page
Madison County/Norwalk/50211

50211

ZIPSAFMR
Madison County, IA
Zillow

ZIP Investment Score

78Below average

095130300
BRFMR
Eff. Rent
0 BR$1,050$1,160
1 BR$1,090$1,200
2 BR$1,290$1,420
3 BR$1,760$1,940
4 BR$1,800$1,980
5 BR$2,070Not available
6 BR$2,380Not available
7 BR$2,738Not available
8 BR$3,148Not available

Purchase Price Calculator

Maximum purchase price
$149,095

Cost breakdown

+Likely effective rent$1,420
HUD FMR$1,290
Market rent$1,840
Est. payment standard (110%)Used$1,420
-Principal and interest-$754
Loan amount$119,276
Down payment$29,819
Rate6.50%
Term30 years
-Operating costs-$466
Property taxes-$149
Insurance-$175
Utilities$0
HOA$0
Management-$142
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,937(76.9% ROI)
Projected value
$160,559
Return breakdown
Property appreciation+$11,464
Loan principal paid down+$4,273
Rental cash flow+$7,200
5-year hold
+$39,213(131.5% ROI)
Projected value
$168,687
Return breakdown
Property appreciation+$19,592
Loan principal paid down+$7,621
Rental cash flow+$12,000
10-year hold
+$83,918(281.4% ROI)
Projected value
$190,854
Return breakdown
Property appreciation+$41,759
Loan principal paid down+$18,158
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.67
1 BR
0.75
2 BR
0.70
3 BR
0.84
4 BR
0.81
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 50211 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 50211 (Norwalk, IA) is $1,290 a month. That is down 0.8% from $1,300 in FY 2026. Norwalk 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 19 ZIP codes in Madison County, 50211 has the 2nd-highest two-bedroom rent (county range $950–$1,320). The median county two-bedroom FMR in Iowa is $927, so ZIP 50211 is 39% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 50211
BedroomsFY 2027Change90–110% range
Studio$1,0500.0%$945–$1,155
1BR$1,0900.0%$981–$1,199
2BR$1,290−0.8%$1,161–$1,419
3BR$1,760−0.6%$1,584–$1,936
4BR$1,800−1.1%$1,620–$1,980

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 50211
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,050$1,090$1,290$1,760$1,800
FY 2026$1,050$1,090$1,300$1,770$1,820
FY 2025$990$1,050$1,260$1,690$1,700
FY 2024$840$910$1,090$1,490$1,500
FY 2023$770$870$1,050$1,440$1,470

Two-bedroom rent in nearby Madison County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 50211
50149$1,010−21.7%
50155$1,090−15.5%
50174$950−26.4%
50210$1,280−0.8%
50211Current$1,290—
50218$1,240−3.9%
50222$1,090−15.5%
50229$1,190−7.8%
50240$1,090−15.5%
50257$1,020−20.9%
50261$1,150−10.9%
50273$1,240−3.9%

Questions about ZIP 50211 rents

How much will Section 8 pay for a two-bedroom in ZIP 50211?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,290, that basic range is $1,161 to $1,419 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 50211 in?

ZIP 50211 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 50211 for FY 2027?

The two-bedroom FMR fell 0.8%, from $1,300 in FY 2026 to $1,290 in FY 2027. Since FY 2023 it has risen 22.9%.

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