HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Black Hawk County, Iowa (FY 2027)
$1,096 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Black Hawk County, and it's the baseline every voucher in Black Hawk is measured against.
Two-bedroom FMR
$1,096
+4.3% from FY 2026
Payment standard
$986–$1,206
90% to 110% of the FMR, two-bedroom
Income to afford
$43,840
a year, with rent at 30% of income
Rank in Iowa
13th of 99
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $763 | $687–$839 | $30,520 | $14.67/hr | +5.2% |
| 1 bedroom | $838 | $754–$922 | $33,520 | $16.12/hr | +4.6% |
| 2 bedroom | $1,096 | $986–$1,206 | $43,840 | $21.08/hr | +4.3% |
| 3 bedroom | $1,401 | $1,261–$1,541 | $56,040 | $26.94/hr | +3.2% |
| 4 bedroom | $1,832 | $1,649–$2,015 | $73,280 | $35.23/hr | +3.9% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $2,107 | $1,896–$2,318 |
| 6 bedroom Estimate | $2,382 | $2,144–$2,620 |
| 7 bedroom Estimate | $2,656 | $2,390–$2,922 |
| 8 bedroom Estimate | $2,931 | $2,638–$3,224 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Black Hawk actually rent for?
Search any address in Black Hawk for a rent estimate built from nearby comps, with the HUD figure right next to it.
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What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Black Hawk somewhere between $986 and $1,206. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,096 a month is affordable, by HUD's 30% rule, on an income of roughly $43,840 a year. Put another way, $21 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$986 | Voucher pays at 100%$1,096 | Voucher pays at 110%$1,206 |
|---|---|---|---|---|
| $2,500 | $750 | $236 | $346 | $456 |
| $4,000 | $1,200 | $0 | $0 | $6 |
Rate history
The two-bedroom rate went up 4% from FY 2026 ($1,051) to FY 2027 ($1,096). Since FY 2020 it's up 44% in total, about 5.3% a year. The Iowa median moved up 1% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $517 | $604 | $763 | $996 | $1,249 | — |
| FY 2021 | $592 | $670 | $839 | $1,111 | $1,413 | +10.0% |
| FY 2022 | $611 | $707 | $889 | $1,178 | $1,499 | +6.0% |
| FY 2023 | $629 | $740 | $934 | $1,241 | $1,591 | +5.1% |
| FY 2024 | $640 | $737 | $944 | $1,250 | $1,602 | +1.1% |
| FY 2025 | $684 | $760 | $997 | $1,301 | $1,674 | +5.6% |
| FY 2026 | $725 | $801 | $1,051 | $1,357 | $1,763 | +5.4% |
| FY 2027In effect | $763 | $838 | $1,096 | $1,401 | $1,832 | +4.3% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Black Hawk, that runs from $763 for a studio up to $1,832 for four bedrooms, all five rates in the table above.
This is a metro rate. The county doesn't get one of its own. HUD lumps Black Hawk in with one other county in the Waterloo-Cedar Falls metro, Grundy County among them, and every one of them gets $1,096 for a two-bedroom. Where you are inside the metro doesn't change the county number. It does change the ZIP number, covered below.
Among Iowa's 99 counties, Black Hawk ranks 13th for two-bedroom FMR. That's about 18% above the state median of $927 and about 3% above the national median county at $1,063. About 131,049 people live here, 5th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $950 in 50626 (Dunkerton) and $1,310 in 50613 (Cedar Falls), with the 12 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 50613 | Cedar Falls | $1,310 | +19.5% |
| 50614 | Cedar Falls | $1,096County rate | — |
| 50623 | Dewar | $1,010 | -7.8% |
| 50626 | Dunkerton | $950 | -13.3% |
| 50634 | Gilbertville | $950 | -13.3% |
| 50643 | Hudson | $1,150 | +4.9% |
| 50651 | La Porte City | $1,020 | -6.9% |
| 50667 | Raymond | $1,050 | -4.2% |
| 50701 | Waterloo | $1,030 | -6.0% |
| 50702 | Waterloo | $1,140 | +4.0% |
| 50703 | Waterloo | $1,080 | -1.5% |
| 50704 | Waterloo | $1,110 | +1.3% |
| 50707 | Evansdale | $1,050 | -4.2% |
Counties sharing the Waterloo-Cedar Falls metro rate
HUD sets one rate for the whole metro, so every county here carries the same $1,096 two-bedroom figure as Black Hawk.
Nearby counties
Two-bedroom FMR, with how each compares to Black Hawk.
Bremer County
21 mi · 25,204 people
$1,023
-7%
Buchanan County
22 mi · 20,694 people
$937
-15%
Grundy County
25 mi · 12,384 people
$1,096
same rate
Tama County
29 mi · 16,868 people
$945
-14%
Butler County
31 mi · 14,268 people
$927
-15%
Benton County
34 mi · 25,724 people
$982
-10%
Fayette County
36 mi · 19,288 people
$940
-14%
Chickasaw County
40 mi · 11,807 people
$927
-15%
Questions people ask
$1,096 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $763 for a studio, $838 for one bedroom, $1,401 for three and $1,832 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Black Hawk actually go for?
HUD's number is one input. Search any address in Black Hawk for a rent estimate built from nearby comps. Free to start, no card.
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