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Warren County/Saint Marys/50241

50241

ZIPSAFMR
Warren County, IA
Zillow

ZIP Investment Score

100Above average

095130300
BRFMR
Eff. Rent
0 BR$1,000$1,000
1 BR$1,050$1,050
2 BR$1,250$1,250
3 BR$1,700$1,700
4 BR$1,740$1,740
5 BR$2,001Not available
6 BR$2,301Not available
7 BR$2,646Not available
8 BR$3,043Not available

Purchase Price Calculator

Maximum purchase price
$123,833

Cost breakdown

+Likely effective rent$1,250
HUD FMRUsed$1,250
Market rentN/A
Est. payment standardN/A
-Principal and interest-$626
Loan amount$99,066
Down payment$24,767
Rate6.50%
Term30 years
-Operating costs-$424
Property taxes-$124
Insurance-$175
Utilities$0
HOA$0
Management-$125
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,271(81.8% ROI)
Projected value
$133,355
Return breakdown
Property appreciation+$9,522
Loan principal paid down+$3,549
Rental cash flow+$7,200
5-year hold
+$34,602(139.7% ROI)
Projected value
$140,106
Return breakdown
Property appreciation+$16,273
Loan principal paid down+$6,329
Rental cash flow+$12,000
10-year hold
+$73,765(297.8% ROI)
Projected value
$158,517
Return breakdown
Property appreciation+$34,684
Loan principal paid down+$15,082
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 50241 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 50241 (Saint Marys, IA) is $1,250 a month. That is down 9.4% from $1,380 in FY 2026. Saint Marys 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 23 ZIP codes in Warren County, 50241 has the 11th-highest two-bedroom rent (county range $950–$1,680). The median county two-bedroom FMR in Iowa is $927, so ZIP 50241 is 35% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 50241
BedroomsFY 2027Change90–110% range
Studio$1,000−9.9%$900–$1,100
1BR$1,050−9.5%$945–$1,155
2BR$1,250−9.4%$1,125–$1,375
3BR$1,700−9.6%$1,530–$1,870
4BR$1,740−9.8%$1,566–$1,914

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 50241
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,000$1,050$1,250$1,700$1,740
FY 2026$1,110$1,160$1,380$1,880$1,930
FY 2025$1,000$1,060$1,270$1,700$1,710
FY 2024$740$810$970$1,330$1,350
FY 2023$710$790$960$1,320$1,340

Two-bedroom rent in nearby Warren County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 50241
50166$1,120−10.4%
50210$1,280+2.4%
50211$1,290+3.2%
50213$950−24.0%
50225$950−24.0%
50229$1,190−4.8%
50240$1,090−12.8%
50241Current$1,250—
50252$1,050−16.0%
50257$1,020−18.4%
50265$1,320+5.6%
50320$1,320+5.6%

Questions about ZIP 50241 rents

How much will Section 8 pay for a two-bedroom in ZIP 50241?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,250, that basic range is $1,125 to $1,375 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 50241 in?

ZIP 50241 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 50241 for FY 2027?

The two-bedroom FMR fell 9.4%, from $1,380 in FY 2026 to $1,250 in FY 2027. Since FY 2023 it has risen 30.2%.

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