FY2027 Small Area FMR · Menlo, IA
ZIP 50164 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 50164 (Menlo, IA) is $930 a month, down 9.7% from FY2026. That is 32% below the Des Moines-West Des Moines, IA area-wide FMR of $1,360.
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 50164 sits in the Des Moines-West Des Moines, IA area
Of the 111 ZIP codes HUD lists for the area, 50164 has the 102nd 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 $837 and $1,023 for two bedrooms.
ZIP code 50164 crosses more than one HUD area. HUD also lists it under Adair 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 | $740 | $666 – $814 | $1,102 | $810 |
| 1 bedroom | $760 | $684 – $836 | $1,145 | $840 |
| 2 bedrooms | $930 | $837 – $1,023 | $1,360 | $1,030 |
| 3 bedrooms | $1,250 | $1,125 – $1,375 | $1,856 | $1,380 |
| 4 bedrooms | $1,310 | $1,179 – $1,441 | $1,901 | $1,440 |
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 $116,400 and the 80% low-income limit for four people is $93,100. ZIP code 50164 lies mainly in Guthrie County and Adair County. See the Des Moines-West Des Moines, IA metro page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 50164?
HUD's FY2027 Small Area Fair Market Rents for 50164 are $740 (studio), $760 (1 BR), $930 (2 BR), $1,250 (3 BR) and $1,310 (4 BR) a month.
What is the Section 8 payment standard in 50164?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 50164 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 50164?
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.