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Polk County/Des Moines/50321

50321

ZIPSAFMR
Polk County, IA
Zillow

ZIP Investment Score

52Below average

095130300
BRFMR
Eff. Rent
0 BR$1,080$910
1 BR$1,120$1,050
2 BR$1,330$1,220
3 BR$1,820$1,700
4 BR$1,860$1,820
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
$119,375

Cost breakdown

+Likely effective rent$1,220
HUD FMR$1,330
Market rentUsed$1,220
Est. payment standard (95%)$1,260
-Principal and interest-$604
Loan amount$95,500
Down payment$23,875
Rate6.50%
Term30 years
-Operating costs-$416
Property taxes-$119
Insurance-$175
Utilities$0
HOA$0
Management-$122
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,800(82.9% ROI)
Projected value
$128,554
Return breakdown
Property appreciation+$9,179
Loan principal paid down+$3,422
Rental cash flow+$7,200
5-year hold
+$33,788(141.5% ROI)
Projected value
$135,062
Return breakdown
Property appreciation+$15,687
Loan principal paid down+$6,102
Rental cash flow+$12,000
10-year hold
+$71,974(301.5% ROI)
Projected value
$152,810
Return breakdown
Property appreciation+$33,435
Loan principal paid down+$14,539
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.19
1 BR
1.07
2 BR
1.09
3 BR
1.07
4 BR
1.02
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 50321 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 50321 (Des Moines, IA) is $1,330 a month. That is unchanged from 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, 50321 has the 30th-highest two-bedroom rent (county range $930–$1,790). The median county two-bedroom FMR in Iowa is $927, so ZIP 50321 is 43% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 50321
BedroomsFY 2027Change90–110% range
Studio$1,080+0.9%$972–$1,188
1BR$1,1200.0%$1,008–$1,232
2BR$1,3300.0%$1,197–$1,463
3BR$1,820+0.6%$1,638–$2,002
4BR$1,8600.0%$1,674–$2,046

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 50321
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,080$1,120$1,330$1,820$1,860
FY 2026$1,070$1,120$1,330$1,810$1,860
FY 2025$980$1,050$1,250$1,680$1,680
FY 2024$860$920$1,110$1,520$1,520
FY 2023$790$890$1,080$1,480$1,510

Two-bedroom rent in nearby Polk County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 50321
50315$1,290−3.0%
50316$1,180−11.3%
50317$1,260−5.3%
50318$1,340+0.8%
50319$1,340+0.8%
50320$1,320−0.8%
50321Current$1,330—
50322$1,400+5.3%
50323$1,790+34.6%
50324$1,610+21.1%
50325$1,310−1.5%
50327$1,440+8.3%

Questions about ZIP 50321 rents

How much will Section 8 pay for a two-bedroom in ZIP 50321?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,330, that basic range is $1,197 to $1,463 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 50321 in?

ZIP 50321 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 50321 for FY 2027?

The two-bedroom FMR was unchanged at $1,330 in FY 2027. Since FY 2023 it has risen 23.1%.

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