FY2027 Small Area FMR · Larchwood, IA

ZIP 51241 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 51241 (Larchwood, IA) is $960 a month, up 1.1% from FY2026. That is 2% above the Lyon County, IA area-wide FMR of $945.

2-bedroom SAFMR$960per month ▲ 1.1%

Area-wide 2 BR FMR$945Lyon County, IA

Rank in the area5thof 14 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$864

2 BR Small Area FMR$960

110% of SAFMR$1,056

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

Studio$710■ 0.0%

1 BR$730▲ 1.4%

2 BR$960▲ 1.1%

3 BR$1,140■ 0.0%

4 BR$1,260■ 0.0%

FY2027 FY2026

Where 51241 sits in the Lyon County, IA area

Of the 14 ZIP codes HUD lists for the area, 51241 has the 5th highest two-bedroom Small Area FMR. Lyon 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 $945 for two bedrooms; an agency that opts in to Small Area FMRs would use $960 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	$710	$639 – $781	$702	$710
1 bedroom	$730	$657 – $803	$722	$720
2 bedrooms	$960	$864 – $1,056	$945	$950
3 bedrooms	$1,140	$1,026 – $1,254	$1,126	$1,140
4 bedrooms	$1,260	$1,134 – $1,386	$1,242	$1,260

A household renting a two-bedroom home at the Small Area FMR of $960 needs about $38,400 a year to keep housing costs at 30% of income. The area median family income is $96,600 and the 80% low-income limit for four people is $77,300. ZIP code 51241 lies mainly in Lyon County. See the Lyon County, IA county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
51242	Lester	6.4 mi	$950
56138	Hills	6.8 mi	$1,180
57068	Valley Springs	8.7 mi	$1,300
51230	Alvord	9.3 mi	$940
51240	Inwood	9.8 mi	$1,040
57110	Sioux Falls	11.0 mi	$1,270

Questions

What is the Fair Market Rent for ZIP code 51241?

HUD's FY2027 Small Area Fair Market Rents for 51241 are $710 (studio), $730 (1 BR), $960 (2 BR), $1,140 (3 BR) and $1,260 (4 BR) a month.

What is the Section 8 payment standard in 51241?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 51241 that range is $864 to $1,056 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 51241?

The FY2026 income limits of the Lyon County, IA area apply: median family income $96,600, low-income (80%) limit $77,300 for a family of four.