FY2027 Small Area FMR · Garner, IA

ZIP 50438 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 50438 (Garner, IA) is $930 a month, up 1.1% from FY2026. That is 0% equal to the Hancock County, IA area-wide FMR of $927.

2-bedroom SAFMR$930per month ▲ 1.1%

Area-wide 2 BR FMR$927Hancock County, IA

Rank in the area10thof 13 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$837

2 BR Small Area FMR$930

110% of SAFMR$1,023

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

Studio$690▲ 1.5%

1 BR$750▲ 1.4%

2 BR$930▲ 1.1%

3 BR$1,120▼ 4.3%

4 BR$1,550▲ 0.6%

FY2027 FY2026

Where 50438 sits in the Hancock County, IA area

Of the 13 ZIP codes HUD lists for the area, 50438 has the 10th highest two-bedroom Small Area FMR. Hancock 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 $927 for two bedrooms; an agency that opts in to Small Area FMRs would use $930 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$690	$621 – $759	$688	$680
1 bedroom	$750	$675 – $825	$750	$740
2 bedrooms	$930	$837 – $1,023	$927	$920
3 bedrooms	$1,120	$1,008 – $1,232	$1,120	$1,170
4 bedrooms	$1,550	$1,395 – $1,705	$1,549	$1,540

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 $88,300 and the 80% low-income limit for four people is $75,300. ZIP code 50438 lies mainly in Hancock County. See the Hancock County, IA county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
50482	Ventura	6.7 mi	$1,090
50449	Klemme	8.0 mi	$930
50423	Britt	9.9 mi	$1,120
50436	Forest City	11.0 mi	$970
50428	Clear Lake	11.4 mi	$930
50439	Goodell	11.5 mi	$940

Questions

What is the Fair Market Rent for ZIP code 50438?

HUD's FY2027 Small Area Fair Market Rents for 50438 are $690 (studio), $750 (1 BR), $930 (2 BR), $1,120 (3 BR) and $1,550 (4 BR) a month.

What is the Section 8 payment standard in 50438?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 50438 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 50438?

The FY2026 income limits of the Hancock County, IA area apply: median family income $88,300, low-income (80%) limit $75,300 for a family of four.