HUD Fair Market Rent · FY 2026 · Effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Black Hawk County, Iowa (FY 2026)
$1,051 a month. That's HUD's FY 2026 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
$1,051
+5.4% from FY 2025
Payment standard
$946–$1,156
90% to 110% of the FMR, two-bedroom
Income to afford
$42,040
a year, with rent at 30% of income
Rank in Iowa
20th of 99
by two-bedroom FMR, highest first
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Black Hawk moves to $1,096. That's up 4%. The full FY 2027 table is in the history section below.
FY 2026 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 2025 |
|---|---|---|---|---|---|
| Studio | $725 | $653–$798 | $29,000 | $13.94/hr | +6.0% |
| 1 bedroom | $801 | $721–$881 | $32,040 | $15.40/hr | +5.4% |
| 2 bedroom | $1,051 | $946–$1,156 | $42,040 | $20.21/hr | +5.4% |
| 3 bedroom | $1,357 | $1,221–$1,493 | $54,280 | $26.10/hr | +4.3% |
| 4 bedroom | $1,763 | $1,587–$1,939 | $70,520 | $33.90/hr | +5.3% |
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 | $2,027 | $1,824–$2,230 |
| 6 bedroom Estimate | $2,292 | $2,063–$2,521 |
| 7 bedroom Estimate | $2,556 | $2,300–$2,812 |
| 8 bedroom Estimate | $2,821 | $2,539–$3,103 |
Source: HUD Office of Policy Development and Research, FY 2026 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 $946 and $1,156. 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.
$1,051 a month is affordable, by HUD's 30% rule, on an income of roughly $42,040 a year. Put another way, $20 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%$946 | Voucher pays at 100%$1,051 | Voucher pays at 110%$1,156 |
|---|---|---|---|---|
| $2,500 | $750 | $196 | $301 | $406 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 5% from FY 2025 ($997) to FY 2026 ($1,051). Since FY 2020 it's up 38% in total, about 5.5% a year. The Iowa median moved up 5% 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 2026In effect | $725 | $801 | $1,051 | $1,357 | $1,763 | +5.4% |
| FY 2027From Oct 1, 2026 | $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 2026 that's October 1, 2025 through September 30, 2026. In Black Hawk, that runs from $725 for a studio up to $1,763 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 $1,051 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 20th for two-bedroom FMR. That's about 14% above the state median of $919 and about 3% above the national median county at $1,018. About 131,041 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 $920 in 50626 (Dunkerton) and $1,210 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 | $1,210 | +15.1% |
| 50614 | Cedar Falls | $1,051County rate | — |
| 50623 | Dewar | $1,000 | -4.9% |
| 50626 | Dunkerton | $920 | -12.5% |
| 50634 | Gilbertville | $920 | -12.5% |
| 50643 | Hudson | $1,150 | +9.4% |
| 50651 | La Porte City | $950 | -9.6% |
| 50667 | Raymond | $1,020 | -2.9% |
| 50701 | Waterloo | $980 | -6.8% |
| 50702 | Waterloo | $1,060 | +0.9% |
| 50703 | Waterloo | $1,060 | +0.9% |
| 50704 | Waterloo | $1,060 | +0.9% |
| 50707 | Evansdale | $1,000 | -4.9% |
Counties sharing the Waterloo-Cedar Falls metro rate
HUD sets one rate for the whole metro, so every county here carries the same $1,051 two-bedroom figure as Black Hawk.
Nearby counties
Two-bedroom FMR, with how each compares to Black Hawk.
Bremer County
21 mi · 25,012 people
$978
-7%
Buchanan County
22 mi · 20,631 people
$942
-10%
Grundy County
25 mi · 12,351 people
$1,051
same rate
Tama County
29 mi · 17,017 people
$941
-10%
Butler County
31 mi · 14,376 people
$919
-13%
Benton County
34 mi · 25,652 people
$956
-9%
Fayette County
36 mi · 19,519 people
$919
-13%
Chickasaw County
40 mi · 11,957 people
$919
-13%
Questions people ask
$1,051 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $725 for a studio, $801 for one bedroom, $1,357 for three and $1,763 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. 3 free searches, no card.
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