FY2027 Small Area FMR · Melbourne, IA
ZIP 50162 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 50162 (Melbourne, IA) is $1,410 a month, down 2.1% from FY2026. That is 43% above the Jasper County, IA area-wide FMR of $989.
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 50162 sits in the Jasper County, IA area
Of the 23 ZIP codes HUD lists for the area, 50162 has the 1st highest two-bedroom Small Area FMR. Jasper 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 $989 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,410 for this ZIP code instead.
ZIP code 50162 crosses more than one HUD area. HUD also lists it under Marshall County, IA (same figures). The figure that applies depends on which side of the line the home is.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $1,050 | $945 – $1,155 | $782 | $1,070 |
| 1 bedroom | $1,080 | $972 – $1,188 | $787 | $1,100 |
| 2 bedrooms | $1,410 | $1,269 – $1,551 | $989 | $1,440 |
| 3 bedrooms | $1,850 | $1,665 – $2,035 | $1,330 | $1,900 |
| 4 bedrooms | $1,860 | $1,674 – $2,046 | $1,395 | $1,910 |
A household renting a two-bedroom home at the Small Area FMR of $1,410 needs about $56,400 a year to keep housing costs at 30% of income. The area median family income is $95,900 and the 80% low-income limit for four people is $76,700. ZIP code 50162 lies mainly in Marshall County and Jasper County. See the Jasper 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 50162?
HUD's FY2027 Small Area Fair Market Rents for 50162 are $1,050 (studio), $1,080 (1 BR), $1,410 (2 BR), $1,850 (3 BR) and $1,860 (4 BR) a month.
What is the Section 8 payment standard in 50162?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 50162 that range is $1,269 to $1,551 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 50162?
The FY2026 income limits of the Jasper County, IA area apply: median family income $95,900, low-income (80%) limit $76,700 for a family of four.