FY2027 Small Area FMR · Promise City, IA

ZIP 52583 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 52583 (Promise City, IA) is $950 a month, up 1.1% from FY2026. That is 2% above the Wayne County, IA area-wide FMR of $927.

2-bedroom SAFMR$950per month ▲ 1.1%

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

Rank in the area7thof 14 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$855

2 BR Small Area FMR$950

110% of SAFMR$1,045

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

Studio$700▲ 1.4%

1 BR$730▼ 1.4%

2 BR$950▲ 1.1%

3 BR$1,250▲ 3.3%

4 BR$1,270▲ 1.6%

FY2027 FY2026

Where 52583 sits in the Wayne County, IA area

Of the 14 ZIP codes HUD lists for the area, 52583 has the 7th highest two-bedroom Small Area FMR. Wayne 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 $950 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	$700	$630 – $770	$688	$690
1 bedroom	$730	$657 – $803	$723	$740
2 bedrooms	$950	$855 – $1,045	$927	$940
3 bedrooms	$1,250	$1,125 – $1,375	$1,232	$1,210
4 bedrooms	$1,270	$1,143 – $1,397	$1,251	$1,250

A household renting a two-bedroom home at the Small Area FMR of $950 needs about $38,000 a year to keep housing costs at 30% of income. The area median family income is $85,800 and the 80% low-income limit for four people is $75,300. ZIP code 52583 lies mainly in Wayne County. See the Wayne County, IA county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
52581	Plano	4.5 mi	$930
50165	Millerton	7.8 mi	$980
52574	Mystic	9.3 mi	$930
52590	Seymour	9.3 mi	$930
50060	Corydon	9.4 mi	$980
50238	Russell	11.8 mi	$930

Questions

What is the Fair Market Rent for ZIP code 52583?

HUD's FY2027 Small Area Fair Market Rents for 52583 are $700 (studio), $730 (1 BR), $950 (2 BR), $1,250 (3 BR) and $1,270 (4 BR) a month.

What is the Section 8 payment standard in 52583?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 52583 that range is $855 to $1,045 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 52583?

The FY2026 income limits of the Wayne County, IA area apply: median family income $85,800, low-income (80%) limit $75,300 for a family of four.