Skip to main content
Loading page
Polk County/Des Moines/50392

50392

ZIPFMR
Polk County, IA
Zillow
Loading Investment Score

ZIP Investment Score

-- 

095130300
BRFMR
Eff. Rent
0 BR$1,102$920
1 BR$1,145$1,070
2 BR$1,360$1,380
3 BR$1,856$1,590
4 BR$1,901$1,920
5 BR$2,186Not available
6 BR$2,514Not available
7 BR$2,891Not available
8 BR$3,325Not available

Purchase Price Calculator

Maximum purchase price
$143,151

Cost breakdown

+Likely effective rent$1,380
HUD FMR$1,360
Market rent$1,390
Est. payment standard (101%)Used$1,380
-Principal and interest-$724
Loan amount$114,521
Down payment$28,630
Rate6.50%
Term30 years
-Operating costs-$456
Property taxes-$143
Insurance-$175
Utilities$0
HOA$0
Management-$138
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$22,310(77.9% ROI)
Projected value
$154,158
Return breakdown
Property appreciation+$11,007
Loan principal paid down+$4,103
Rental cash flow+$7,200
5-year hold
+$38,128(133.2% ROI)
Projected value
$161,962
Return breakdown
Property appreciation+$18,811
Loan principal paid down+$7,317
Rental cash flow+$12,000
10-year hold
+$81,529(284.8% ROI)
Projected value
$183,245
Return breakdown
Property appreciation+$40,094
Loan principal paid down+$17,434
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
1.20
1 BR
1.07
2 BR
0.98
3 BR
1.17
4 BR
0.98
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 50392 fair market rent, FY 2027

For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 50392 (Des Moines, IA) is $1,360 a month. That is up 3.2% from $1,318 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. The median county two-bedroom FMR in Iowa is $927, so ZIP 50392 is 47% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 50392
BedroomsFY 2027Change90–110% range
Studio$1,102+3.7%$992–$1,212
1BR$1,145+3.2%$1,031–$1,260
2BR$1,360+3.2%$1,224–$1,496
3BR$1,856+3.5%$1,670–$2,042
4BR$1,901+3.3%$1,711–$2,091

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 50392
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,102$1,145$1,360$1,856$1,901
FY 2026$1,063$1,109$1,318$1,794$1,841
FY 2025$954$1,017$1,216$1,632$1,638
FY 2024$833$899$1,080$1,477$1,481
FY 2023$791$889$1,074$1,473$1,499

Questions about ZIP 50392 rents

How much will Section 8 pay for a two-bedroom in ZIP 50392?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,360, that basic range is $1,224 to $1,496 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 50392 in?

ZIP 50392 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 50392 for FY 2027?

The two-bedroom FMR rose 3.2%, from $1,318 in FY 2026 to $1,360 in FY 2027. Since FY 2023 it has risen 26.6%.

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 Fair Market Rents. 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