HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Clayton County, Iowa (FY 2027)
$927 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Clayton County, and it's the baseline every voucher in Clayton is measured against.
Two-bedroom FMR
$927
+0.9% from FY 2026
Payment standard
$834–$1,020
90% to 110% of the FMR, two-bedroom
Income to afford
$37,080
a year, with rent at 30% of income
Rank in Iowa
61st 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 | $688 | $619–$757 | $27,520 | $13.23/hr | +0.9% |
| 1 bedroom | $721 | $649–$793 | $28,840 | $13.87/hr | +3.0% |
| 2 bedroom | $927 | $834–$1,020 | $37,080 | $17.83/hr | +0.9% |
| 3 bedroom | $1,169 | $1,052–$1,286 | $46,760 | $22.48/hr | +3.7% |
| 4 bedroom | $1,383 | $1,245–$1,521 | $55,320 | $26.60/hr | +6.1% |
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 | $1,590 | $1,431–$1,749 |
| 6 bedroom Estimate | $1,798 | $1,618–$1,978 |
| 7 bedroom Estimate | $2,005 | $1,805–$2,206 |
| 8 bedroom Estimate | $2,213 | $1,992–$2,434 |
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 Clayton actually rent for?
Search any address in Clayton 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 Clayton somewhere between $834 and $1,020. 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.
$927 a month is affordable, by HUD's 30% rule, on an income of roughly $37,080 a year. Put another way, $18 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%$834 | Voucher pays at 100%$927 | Voucher pays at 110%$1,020 |
|---|---|---|---|---|
| $2,500 | $750 | $84 | $177 | $270 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 1% from FY 2026 ($919) to FY 2027 ($927). Since FY 2020 it's up 35% in total, about 4.4% 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 | $482 | $522 | $687 | $856 | $931 | — |
| FY 2021 | $473 | $544 | $717 | $892 | $972 | +4.4% |
| FY 2022 | $496 | $568 | $747 | $923 | $1,013 | +4.2% |
| FY 2023 | $532 | $604 | $795 | $992 | $1,068 | +6.4% |
| FY 2024 | $584 | $656 | $862 | $1,067 | $1,148 | +8.4% |
| FY 2025 | $646 | $668 | $877 | $1,066 | $1,163 | +1.7% |
| FY 2026 | $682 | $700 | $919 | $1,127 | $1,304 | +4.8% |
| FY 2027In effect | $688 | $721 | $927 | $1,169 | $1,383 | +0.9% |
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 Clayton, that runs from $688 for a studio up to $1,383 for four bedrooms, all five rates in the table above.
Because Clayton 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, Edgewood included.
Among Iowa's 99 counties, Clayton ranks 61st for two-bedroom FMR. That's within a couple percent of the state median of $927 and about 13% below the national median county at $1,063. About 17,013 people live here, 41st in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $930 in 52047 (Farmersburg) and $1,100 in 52156 (Luana), with the 15 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 |
|---|---|---|---|
| 52042 | Edgewood | $1,050 | +13.3% |
| 52043 | Elkader | $1,000 | +7.9% |
| 52044 | Elkport | $1,030 | +11.1% |
| 52047 | Farmersburg | $930 | +0.3% |
| 52048 | Garber | $980 | +5.7% |
| 52049 | Garnavillo | $1,030 | +11.1% |
| 52052 | Guttenberg | $970 | +4.6% |
| 52066 | North Buena Vista | $1,010 | +9.0% |
| 52072 | Saint Olaf | $990 | +6.8% |
| 52076 | Strawberry Point | $930 | +0.3% |
| 52077 | Volga | $930 | +0.3% |
| 52156 | Luana | $1,100 | +18.7% |
| 52157 | Mc Gregor | $930 | +0.3% |
| 52158 | Marquette | $960 | +3.6% |
| 52159 | Monona | $1,030 | +11.1% |
Nearby counties
Two-bedroom FMR, with how each compares to Clayton.
Delaware County
25 mi · 17,558 people
$927
same rate
Fayette County
27 mi · 19,288 people
$940
+1%
Allamakee County
29 mi · 14,092 people
$927
same rate
Dubuque County
34 mi · 99,030 people
$1,131
+22%
Buchanan County
36 mi · 20,694 people
$937
+1%
Winneshiek County
37 mi · 19,873 people
$927
same rate
Bremer County
52 mi · 25,204 people
$1,023
+10%
Jones County
54 mi · 20,896 people
$927
same rate
Questions people ask
$927 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $688 for a studio, $721 for one bedroom, $1,169 for three and $1,383 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 Clayton actually go for?
HUD's number is one input. Search any address in Clayton for a rent estimate built from nearby comps. Free to start, no card.
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