ZIP 50242 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 50242 in the Jasper County, IA FMR area.

Jasper County, IA

$710Efficiency

$8301 bedroom

$9902 bedrooms

$1,3703 bedrooms

$1,4004 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$710	$639	$781	$782
1 bedroom	$830	$747	$913	$787
2 bedrooms	$990	$891	$1,089	$989
3 bedrooms	$1,370	$1,233	$1,507	$1,330
4 bedrooms	$1,400	$1,260	$1,540	$1,395

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Poweshiek County, IA

$710Efficiency

$8301 bedroom

$9902 bedrooms

$1,3703 bedrooms

$1,4004 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$710	$639	$781	$729
1 bedroom	$830	$747	$913	$854
2 bedrooms	$990	$891	$1,089	$1,014
3 bedrooms	$1,370	$1,233	$1,507	$1,403
4 bedrooms	$1,400	$1,260	$1,540	$1,433

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 50242

$71,018average adjusted gross income per tax return (2022)

$46,071average salaries and wages per return

170tax returns filed

17%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	23.5%
$25,000 to $50,000	23.5%
$50,000 to $75,000	17.6%
$75,000 to $100,000	11.8%
$100,000 to $200,000	23.5%
$200,000 or more	0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 0.0% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 50242?

HUD's FY2027 Small Area FMRs for ZIP 50242 (Jasper County, IA) are $710 efficiency, $830 one bedroom, $990 two bedrooms, $1,370 three and $1,400 four bedrooms.

What payment standard can a housing authority set in ZIP 50242?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $891 to $1,089.

How affordable is rent in ZIP 50242?

Tax returns filed from ZIP 50242 reported an average adjusted gross income of $71,018 (2022). A two-bedroom unit at the Small Area FMR costs $11,880 a year, or 17% of that income.