FY2027 Small Area FMR · Booneville, IA

ZIP 50038 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 50038 (Booneville, IA) is $1,260 a month, up 5.0% from FY2026. That is 7% below the Des Moines-West Des Moines, IA area-wide FMR of $1,360.

2-bedroom SAFMR$1,260per month ▲ 5.0%

Area-wide 2 BR FMR$1,360Des Moines-West Des Moines,

Rank in the area46thof 111 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,134

2 BR Small Area FMR$1,260

110% of SAFMR$1,386

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

Studio$1,020▲ 5.2%

1 BR$1,060▲ 5.0%

2 BR$1,260▲ 5.0%

3 BR$1,720▲ 5.5%

4 BR$1,760▲ 4.8%

FY2027 FY2026

Where 50038 sits in the Des Moines-West Des Moines, IA area

Of the 111 ZIP codes HUD lists for the area, 50038 has the 46th highest two-bedroom Small Area FMR. Des Moines-West Des Moines, IA is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2023), so local housing agencies must set payment standards from this ZIP code's figure, normally between $1,134 and $1,386 for two bedrooms.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,020	$918 – $1,122	$1,102	$970
1 bedroom	$1,060	$954 – $1,166	$1,145	$1,010
2 bedrooms	$1,260	$1,134 – $1,386	$1,360	$1,200
3 bedrooms	$1,720	$1,548 – $1,892	$1,856	$1,630
4 bedrooms	$1,760	$1,584 – $1,936	$1,901	$1,680

A household renting a two-bedroom home at the Small Area FMR of $1,260 needs about $50,400 a year to keep housing costs at 30% of income. The area median family income is $116,400 and the 80% low-income limit for four people is $93,100. ZIP code 50038 lies mainly in Dallas County. See the Des Moines-West Des Moines, IA metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
50261	Van Meter	3.6 mi	$1,150
50263	Waukee	5.1 mi	$1,560
50266	West Des Moines	6.2 mi	$1,640
50069	De Soto	6.6 mi	$1,140
50061	Cumming	6.7 mi	$1,320
50325	Clive	8.2 mi	$1,310

Questions

What is the Fair Market Rent for ZIP code 50038?

HUD's FY2027 Small Area Fair Market Rents for 50038 are $1,020 (studio), $1,060 (1 BR), $1,260 (2 BR), $1,720 (3 BR) and $1,760 (4 BR) a month.

What is the Section 8 payment standard in 50038?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 50038 that range is $1,134 to $1,386 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 50038?

The FY2026 income limits of the Des Moines-West Des Moines, IA area apply: median family income $116,400, low-income (80%) limit $93,100 for a family of four.