FY2027 Small Area FMR · Allerton, IA

ZIP 50008 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 50008 (Allerton, IA) is $970 a month, up 5.4% from FY2026. That is 5% above the Wayne County, IA area-wide FMR of $927.

2-bedroom SAFMR$970per month ▲ 5.4%

Area-wide 2 BR FMR$927Wayne County, IA

Rank in the area6thof 14 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$873

2 BR Small Area FMR$970

110% of SAFMR$1,067

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$720▲ 5.9%

1 BR$750▲ 2.7%

2 BR$970▲ 5.4%

3 BR$1,280▲ 7.6%

4 BR$1,320▲ 7.3%

FY2027 FY2026

Where 50008 sits in the Wayne County, IA area

Of the 14 ZIP codes HUD lists for the area, 50008 has the 6th highest two-bedroom Small Area FMR. Wayne County, IA is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $927 for two bedrooms; an agency that opts in to Small Area FMRs would use $970 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$720	$648 – $792	$688	$680
1 bedroom	$750	$675 – $825	$723	$730
2 bedrooms	$970	$873 – $1,067	$927	$920
3 bedrooms	$1,280	$1,152 – $1,408	$1,232	$1,190
4 bedrooms	$1,320	$1,188 – $1,452	$1,251	$1,230

A household renting a two-bedroom home at the Small Area FMR of $970 needs about $38,800 a year to keep housing costs at 30% of income. The area median family income is $85,800 and the 80% low-income limit for four people is $75,300. ZIP code 50008 lies mainly in Wayne County. See the Wayne County, IA county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
50052	Clio	4.2 mi	$930
50060	Corydon	5.9 mi	$980
50147	Lineville	9.6 mi	$930
64672	Powersville	11.9 mi	$1,040
64661	Mercer	12.3 mi	$1,300
50165	Millerton	12.4 mi	$980

Questions

What is the Fair Market Rent for ZIP code 50008?

HUD's FY2027 Small Area Fair Market Rents for 50008 are $720 (studio), $750 (1 BR), $970 (2 BR), $1,280 (3 BR) and $1,320 (4 BR) a month.

What is the Section 8 payment standard in 50008?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 50008 that range is $873 to $1,067 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 50008?

The FY2026 income limits of the Wayne County, IA area apply: median family income $85,800, low-income (80%) limit $75,300 for a family of four.