ZIP 50628 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 50628 in the Howard County, IA FMR area.

Howard County, IA

$690Efficiency

$8501 bedroom

$9302 bedrooms

$1,2803 bedrooms

$1,5104 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$690	$621	$759	$688
1 bedroom	$850	$765	$935	$852
2 bedrooms	$930	$837	$1,023	$927
3 bedrooms	$1,280	$1,152	$1,408	$1,284
4 bedrooms	$1,510	$1,359	$1,661	$1,523

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

Mitchell County, IA

$690Efficiency

$8501 bedroom

$9302 bedrooms

$1,2803 bedrooms

$1,5104 bedrooms

Payment standard range

Unit size	SAFMR	90%	110%	Metro FMR
Efficiency	$690	$621	$759	$688
1 bedroom	$850	$765	$935	$801
2 bedrooms	$930	$837	$1,023	$927
3 bedrooms	$1,280	$1,152	$1,408	$1,190
4 bedrooms	$1,510	$1,359	$1,661	$1,218

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

Income in ZIP 50628

$77,484average adjusted gross income per tax return (2022)

$34,148average salaries and wages per return

560tax returns filed

14%of average income for a 2-bedroom SAFMR

Adjusted gross income	Share of returns
$1 to $25,000	25.0%
$25,000 to $50,000	25.0%
$50,000 to $75,000	16.1%
$75,000 to $100,000	12.5%
$100,000 to $200,000	16.1%
$200,000 or more	5.4%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 8.9% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 50628?

HUD's FY2027 Small Area FMRs for ZIP 50628 (Howard County, IA) are $690 efficiency, $850 one bedroom, $930 two bedrooms, $1,280 three and $1,510 four bedrooms.

What payment standard can a housing authority set in ZIP 50628?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $837 to $1,023.

How affordable is rent in ZIP 50628?

Tax returns filed from ZIP 50628 reported an average adjusted gross income of $77,484 (2022). A two-bedroom unit at the Small Area FMR costs $11,160 a year, or 14% of that income.