HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Cerro Gordo County, Iowa (FY 2026)
A two-bedroom in Cerro Gordo County carries a FY 2026 Fair Market Rent of $949 a month, effective October 1, 2025 through September 30, 2026. Everything Section 8 pays in Cerro Gordo keys off that figure.
2 bedroom FMR
$949
FY 2026, utilities included
Payment standard range
$854 to $1,044
90% to 110% of FMR
Income to afford 2BR
$37,960
per year, at 30% of income
Rank in Iowa
39th of 99
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Cerro Gordo moves to $927. That's down 2%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Cerro Gordo actually rent for?
Search any address in Cerro Gordo for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $746 | $671 to $821 | $29,840 | $14.35/hr | +6.4% |
| 1 bedroom | $750 | $675 to $825 | $30,000 | $14.42/hr | +6.2% |
| 2 bedroom | $949 | $854 to $1,044 | $37,960 | $18.25/hr | +3.5% |
| 3 bedroom | $1,226 | $1,103 to $1,349 | $49,040 | $23.58/hr | +4.3% |
| 4 bedroom | $1,446 | $1,301 to $1,591 | $57,840 | $27.81/hr | +3.4% |
5 to 8 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 | $1,663 | $1,497 to $1,829 |
| 6 bedroom Estimate | $1,880 | $1,692 to $2,068 |
| 7 bedroom Estimate | $2,097 | $1,887 to $2,307 |
| 8 bedroom Estimate | $2,314 | $2,083 to $2,545 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
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 Cerro Gordo, that runs from $746 for a studio up to $1,446 for four bedrooms, all five rates in the table above.
Because Cerro Gordo sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Mason City included.
Among Iowa's 99 counties, Cerro Gordo ranks 39th for two-bedroom FMR. That's about 3% above the state median of $919 and about 7% below the national median county at $1,018. About 42,979 people live here, 13th 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 50428 (Clear Lake) and $1,110 in 50464 (Plymouth), with the 11 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.
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 Cerro Gordo somewhere between $854 and $1,044. 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.
$949 a month is affordable, by HUD's 30% rule, on an income of roughly $37,960 a year. Put another way, $18 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($854) | HAP at 100% ($949) | HAP at 110% ($1,044) |
|---|---|---|---|---|
| $2,500 | $750 | $104 | $199 | $294 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 3% from FY 2025 ($917) to FY 2026 ($949). Since FY 2020 it's up 25% in total, about 3.8% a year. The Iowa median moved up 5% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $495 | $576 | $759 | $980 | $1,187 | — |
| FY 2021 | $511 | $588 | $775 | $1,004 | $1,210 | +2.1% |
| FY 2022 | $545 | $624 | $821 | $1,065 | $1,246 | +5.9% |
| FY 2023 | $610 | $634 | $835 | $1,080 | $1,262 | +1.7% |
| FY 2024 | $649 | $677 | $889 | $1,145 | $1,323 | +6.5% |
| FY 2025 | $701 | $706 | $917 | $1,175 | $1,399 | +3.1% |
| FY 2026 | $746 | $750 | $949 | $1,226 | $1,446 | +3.5% |
| FY 2027 | $744 | $749 | $927 | $1,218 | $1,485 | -2.3% |
Nearby counties
Questions people ask
$949 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $746 for a studio, $750 for one bedroom, $1,226 for three and $1,446 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the 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
See what income a household needs for a given rent.
What does a rental in Cerro Gordo actually go for?
HUD's number is one input. Search any address in Cerro Gordo for a rent estimate built from nearby comps. 3 free searches, no card.
Free tier. No credit card.