FY2027 Small Area FMR · Independence, IA
ZIP 50644 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 50644 (Independence, IA) is $930 a month, up 1.1% from FY2026. That is 1% below the Buchanan County, IA area-wide FMR of $937.
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 50644 sits in the Buchanan County, IA area
Of the 18 ZIP codes HUD lists for the area, 50644 has the 15th highest two-bedroom Small Area FMR. Buchanan 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 $937 for two bedrooms; an agency that opts in to Small Area FMRs would use $930 for this ZIP code instead.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $700 | $630 – $770 | $712 | $700 |
| 1 bedroom | $710 | $639 – $781 | $716 | $700 |
| 2 bedrooms | $930 | $837 – $1,023 | $937 | $920 |
| 3 bedrooms | $1,280 | $1,152 – $1,408 | $1,297 | $1,250 |
| 4 bedrooms | $1,510 | $1,359 – $1,661 | $1,522 | $1,430 |
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 $99,400 and the 80% low-income limit for four people is $79,500. ZIP code 50644 lies mainly in Buchanan County. See the Buchanan 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 50644?
HUD's FY2027 Small Area Fair Market Rents for 50644 are $700 (studio), $710 (1 BR), $930 (2 BR), $1,280 (3 BR) and $1,510 (4 BR) a month.
What is the Section 8 payment standard in 50644?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 50644 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 50644?
The FY2026 income limits of the Buchanan County, IA area apply: median family income $99,400, low-income (80%) limit $79,500 for a family of four.