FY2027 Small Area FMR · Hamilton, IA
ZIP 50116 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 50116 (Hamilton, IA) is $930 a month, unchanged from FY2026. That is 9% below the Marion County, IA area-wide FMR of $1,021.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 50116 sits in the Marion County, IA area
Of the 19 ZIP codes HUD lists for the area, 50116 has the 12th highest two-bedroom Small Area FMR. Marion 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 $1,021 for two bedrooms; an agency that opts in to Small Area FMRs would use $930 for this ZIP code instead.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $670 | $603 – $737 | $711 | $660 |
| 1 bedroom | $740 | $666 – $814 | $826 | $720 |
| 2 bedrooms | $930 | $837 – $1,023 | $1,021 | $930 |
| 3 bedrooms | $1,170 | $1,053 – $1,287 | $1,217 | $1,160 |
| 4 bedrooms | $1,260 | $1,134 – $1,386 | $1,378 | $1,240 |
A household renting a two-bedroom home at the Small Area FMR of $930 needs about $37,200 a year to keep housing costs at 30% of income. The area median family income is $104,700 and the 80% low-income limit for four people is $83,750. ZIP code 50116 lies mainly in Marion County. See the Marion County, IA county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 50116?
HUD's FY2027 Small Area Fair Market Rents for 50116 are $670 (studio), $740 (1 BR), $930 (2 BR), $1,170 (3 BR) and $1,260 (4 BR) a month.
What is the Section 8 payment standard in 50116?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 50116 that range is $837 to $1,023 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 50116?
The FY2026 income limits of the Marion County, IA area apply: median family income $104,700, low-income (80%) limit $83,750 for a family of four.