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Polk County/Des Moines/50309

50309

ZIPSAFMR
Polk County, IA
Zillow

ZIP Investment Score

54Below average

095130300
BRFMR
Eff. Rent
0 BR$1,160$980
1 BR$1,200$1,240
2 BR$1,430$1,400
3 BR$1,950$1,630
4 BR$2,000$2,200
5 BR$2,300Not available
6 BR$2,645Not available
7 BR$3,042Not available
8 BR$3,498Not available

Purchase Price Calculator

Maximum purchase price
$146,123

Cost breakdown

+Likely effective rent$1,400
HUD FMR$1,430
Market rentUsed$1,400
Est. payment standard (99%)$1,410
-Principal and interest-$739
Loan amount$116,898
Down payment$29,225
Rate6.50%
Term30 years
-Operating costs-$461
Property taxes-$146
Insurance-$175
Utilities$0
HOA$0
Management-$140
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,624(77.4% ROI)
Projected value
$157,358
Return breakdown
Property appreciation+$11,235
Loan principal paid down+$4,188
Rental cash flow+$7,200
5-year hold
+$38,670(132.3% ROI)
Projected value
$165,325
Return breakdown
Property appreciation+$19,202
Loan principal paid down+$7,469
Rental cash flow+$12,000
10-year hold
+$82,723(283.1% ROI)
Projected value
$187,050
Return breakdown
Property appreciation+$40,927
Loan principal paid down+$17,796
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.18
1 BR
0.95
2 BR
1.02
3 BR
1.20
4 BR
0.72
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 50309 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 50309 (Des Moines, IA) is $1,430 a month. That is up 4.4% from $1,370 in FY 2026. Des Moines 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, 50309 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 50309 is 54% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 50309
BedroomsFY 2027Change90–110% range
Studio$1,160+4.5%$1,044–$1,276
1BR$1,200+4.3%$1,080–$1,320
2BR$1,430+4.4%$1,287–$1,573
3BR$1,950+4.8%$1,755–$2,145
4BR$2,000+4.7%$1,800–$2,200

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 50309
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,160$1,200$1,430$1,950$2,000
FY 2026$1,110$1,150$1,370$1,860$1,910
FY 2025$1,000$1,060$1,270$1,700$1,710
FY 2024$860$920$1,110$1,520$1,520
FY 2023$790$890$1,070$1,470$1,490

Two-bedroom rent in nearby Polk County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 50309
50302$1,340−6.3%
50303$1,340−6.3%
50304$1,340−6.3%
50305$1,340−6.3%
50309Current$1,430—
50310$1,270−11.2%
50311$1,200−16.1%
50312$1,260−11.9%
50313$1,290−9.8%
50314$1,160−18.9%
50315$1,290−9.8%
50316$1,180−17.5%

Questions about ZIP 50309 rents

How much will Section 8 pay for a two-bedroom in ZIP 50309?

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 50309 in?

ZIP 50309 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 50309 for FY 2027?

The two-bedroom FMR rose 4.4%, from $1,370 in FY 2026 to $1,430 in FY 2027. Since FY 2023 it has risen 33.6%.

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