FY2027 Small Area FMR · Luther, IA
ZIP 50152 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 50152 (Luther, IA) is $990 a month, down 2.9% from FY2026. That is 2% above the Boone County, IA area-wide FMR of $967.
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 50152 sits in the Boone County, IA area
Of the 21 ZIP codes HUD lists for the area, 50152 has the 10th highest two-bedroom Small Area FMR. Boone 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 $967 for two bedrooms; an agency that opts in to Small Area FMRs would use $990 for this ZIP code instead.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $790 | $711 – $869 | $763 | $790 |
| 1 bedroom | $800 | $720 – $880 | $768 | $800 |
| 2 bedrooms | $990 | $891 – $1,089 | $967 | $1,020 |
| 3 bedrooms | $1,370 | $1,233 – $1,507 | $1,339 | $1,420 |
| 4 bedrooms | $1,480 | $1,332 – $1,628 | $1,453 | $1,480 |
A household renting a two-bedroom home at the Small Area FMR of $990 needs about $39,600 a year to keep housing costs at 30% of income. The area median family income is $112,300 and the 80% low-income limit for four people is $89,850. ZIP code 50152 lies mainly in Boone County. See the Boone 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 50152?
HUD's FY2027 Small Area Fair Market Rents for 50152 are $790 (studio), $800 (1 BR), $990 (2 BR), $1,370 (3 BR) and $1,480 (4 BR) a month.
What is the Section 8 payment standard in 50152?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 50152 that range is $891 to $1,089 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 50152?
The FY2026 income limits of the Boone County, IA area apply: median family income $112,300, low-income (80%) limit $89,850 for a family of four.