FY2027 Small Area FMR · Lenox, IA
ZIP 50851 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 50851 (Lenox, IA) is $1,110 a month, up 13.3% from FY2026. That is 18% above the Adams County, IA area-wide FMR of $943.
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 50851 sits in the Adams County, IA area
Of the 10 ZIP codes HUD lists for the area, 50851 has the 1st highest two-bedroom Small Area FMR. Adams 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 $943 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,110 for this ZIP code instead.
ZIP code 50851 crosses more than one HUD area. HUD also lists it under Ringgold County, IA (same figures), Taylor County, IA (same figures) and Union 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 | $820 | $738 – $902 | $700 | $720 |
| 1 bedroom | $850 | $765 – $935 | $721 | $750 |
| 2 bedrooms | $1,110 | $999 – $1,221 | $943 | $980 |
| 3 bedrooms | $1,440 | $1,296 – $1,584 | $1,268 | $1,200 |
| 4 bedrooms | $1,540 | $1,386 – $1,694 | $1,273 | $1,290 |
A household renting a two-bedroom home at the Small Area FMR of $1,110 needs about $44,400 a year to keep housing costs at 30% of income. The area median family income is $99,300 and the 80% low-income limit for four people is $79,450. ZIP code 50851 lies mainly in Taylor County, Adams County and Union County. See the Adams 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 50851?
HUD's FY2027 Small Area Fair Market Rents for 50851 are $820 (studio), $850 (1 BR), $1,110 (2 BR), $1,440 (3 BR) and $1,540 (4 BR) a month.
What is the Section 8 payment standard in 50851?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 50851 that range is $999 to $1,221 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 50851?
The FY2026 income limits of the Adams County, IA area apply: median family income $99,300, low-income (80%) limit $79,450 for a family of four.