FY2027 Small Area FMR · Colwell, IA

ZIP 50620 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 50620 (Colwell, IA) is $930 a month, up 1.1% from FY2026. That is 0% equal to the Floyd County, IA area-wide FMR of $927.

2-bedroom SAFMR$930per month ▲ 1.1%

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

Rank in the area11thof 15 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$710▲ 1.4%

2 BR$930▲ 1.1%

3 BR$1,140▼ 4.2%

4 BR$1,360▲ 11.5%

FY2027 FY2026

Where 50620 sits in the Floyd County, IA area

Of the 15 ZIP codes HUD lists for the area, 50620 has the 11th highest two-bedroom Small Area FMR. Floyd 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	$710	$639 – $781	$709	$700
2 bedrooms	$930	$837 – $1,023	$927	$920
3 bedrooms	$1,140	$1,026 – $1,254	$1,136	$1,190
4 bedrooms	$1,360	$1,224 – $1,496	$1,359	$1,220

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 $96,100 and the 80% low-income limit for four people is $76,900. ZIP code 50620 lies mainly in Floyd County. See the Floyd County, IA county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
50616	Charles City	6.4 mi	$930
50460	Orchard	6.9 mi	$970
50603	Alta Vista	6.9 mi	$930
50435	Floyd	8.9 mi	$1,160
50645	Ionia	12.1 mi	$1,010
50628	Elma	12.7 mi	$930

Questions

What is the Fair Market Rent for ZIP code 50620?

HUD's FY2027 Small Area Fair Market Rents for 50620 are $690 (studio), $710 (1 BR), $930 (2 BR), $1,140 (3 BR) and $1,360 (4 BR) a month.

What is the Section 8 payment standard in 50620?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 50620 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 50620?

The FY2026 income limits of the Floyd County, IA area apply: median family income $96,100, low-income (80%) limit $76,900 for a family of four.