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Boone County/Sheldahl/50243

50243

ZIPSAFMR
Boone County, IA
Zillow

ZIP Investment Score

87Below average

095130300
BRFMR
Eff. Rent
0 BR$1,060$1,060
1 BR$1,110$1,110
2 BR$1,300$1,300
3 BR$1,780$1,780
4 BR$1,940$1,940
5 BR$2,231Not available
6 BR$2,566Not available
7 BR$2,950Not available
8 BR$3,393Not available

Purchase Price Calculator

Maximum purchase price
$131,263

Cost breakdown

+Likely effective rent$1,300
HUD FMRUsed$1,300
Market rentN/A
Est. payment standardN/A
-Principal and interest-$664
Loan amount$105,010
Down payment$26,253
Rate6.50%
Term30 years
-Operating costs-$436
Property taxes-$131
Insurance-$175
Utilities$0
HOA$0
Management-$130
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,055(80.2% ROI)
Projected value
$141,356
Return breakdown
Property appreciation+$10,093
Loan principal paid down+$3,762
Rental cash flow+$7,200
5-year hold
+$35,958(137.0% ROI)
Projected value
$148,512
Return breakdown
Property appreciation+$17,249
Loan principal paid down+$6,709
Rental cash flow+$12,000
10-year hold
+$76,751(292.4% ROI)
Projected value
$168,028
Return breakdown
Property appreciation+$36,765
Loan principal paid down+$15,987
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 50243 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 50243 (Sheldahl, IA) is $1,300 a month. That is up 1.6% from $1,280 in FY 2026. Sheldahl is in the Boone County, IA HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 21 ZIP codes in Boone County, 50243 has the highest two-bedroom rent (county range $930–$1,300). The median county two-bedroom FMR in Iowa is $927, so ZIP 50243 is 40% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 50243
BedroomsFY 2027Change90–110% range
Studio$1,060+1.0%$954–$1,166
1BR$1,110+0.9%$999–$1,221
2BR$1,300+1.6%$1,170–$1,430
3BR$1,780+1.1%$1,602–$1,958
4BR$1,9400.0%$1,746–$2,134

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 50243
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,060$1,110$1,300$1,780$1,940
FY 2026$1,050$1,100$1,280$1,760$1,940
FY 2025$940$1,010$1,180$1,610$1,760
FY 2024$870$940$1,110$1,550$1,700
FY 2023$750$830$980$1,370$1,490

Two-bedroom rent in nearby Boone County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 50243
50152$990−23.8%
50156$990−23.8%
50212$930−28.5%
50217$930−28.5%
50220$1,120−13.8%
50223$930−28.5%
50235$1,120−13.8%
50243Current$1,300—
50244$930−28.5%
50248$1,040−20.0%
50249$930−28.5%
50276$1,040−20.0%

Questions about ZIP 50243 rents

How much will Section 8 pay for a two-bedroom in ZIP 50243?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,300, that basic range is $1,170 to $1,430 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 50243 in?

ZIP 50243 is in the Boone County, 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 50243 for FY 2027?

The two-bedroom FMR rose 1.6%, from $1,280 in FY 2026 to $1,300 in FY 2027. Since FY 2023 it has risen 32.7%.

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