ZIP 50464 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 50464 in the Cerro Gordo County, IA FMR area.

Cerro Gordo County, IA

$780Efficiency

$7901 bedroom

$1,0002 bedrooms

$1,3103 bedrooms

$1,5204 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$780	$702	$858	$744
1 bedroom	$790	$711	$869	$749
2 bedrooms	$1,000	$900	$1,100	$927
3 bedrooms	$1,310	$1,179	$1,441	$1,218
4 bedrooms	$1,520	$1,368	$1,672	$1,485

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

Mitchell County, IA

$780Efficiency

$7901 bedroom

$1,0002 bedrooms

$1,3103 bedrooms

$1,5204 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$780	$702	$858	$688
1 bedroom	$790	$711	$869	$801
2 bedrooms	$1,000	$900	$1,100	$927
3 bedrooms	$1,310	$1,179	$1,441	$1,190
4 bedrooms	$1,520	$1,368	$1,672	$1,218

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

Worth County, IA

$780Efficiency

$7901 bedroom

$1,0002 bedrooms

$1,3103 bedrooms

$1,5204 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$780	$702	$858	$688
1 bedroom	$790	$711	$869	$709
2 bedrooms	$1,000	$900	$1,100	$927
3 bedrooms	$1,310	$1,179	$1,441	$1,284
4 bedrooms	$1,520	$1,368	$1,672	$1,293

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

Income in ZIP 50464

$73,721average adjusted gross income per tax return (2022)

$49,938average salaries and wages per return

290tax returns filed

16%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	24.1%
$25,000 to $50,000	24.1%
$50,000 to $75,000	17.2%
$75,000 to $100,000	10.3%
$100,000 to $200,000	24.1%
$200,000 or more	0.0%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 10.3% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 50464?

HUD's FY2027 Small Area FMRs for ZIP 50464 (Cerro Gordo County, IA) are $780 efficiency, $790 one bedroom, $1,000 two bedrooms, $1,310 three and $1,520 four bedrooms.

What payment standard can a housing authority set in ZIP 50464?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $900 to $1,100.

How affordable is rent in ZIP 50464?

Tax returns filed from ZIP 50464 reported an average adjusted gross income of $73,721 (2022). A two-bedroom unit at the Small Area FMR costs $12,000 a year, or 16% of that income.