HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Hamilton County, Iowa (FY 2026)
$994 a month. That's HUD's FY 2026 Fair Market Rent for a two-bedroom in Hamilton County, and it's the baseline every voucher in Hamilton is measured against.
2 bedroom FMR
$994
FY 2026, utilities included
Payment standard range
$895 to $1,093
90% to 110% of FMR
Income to afford 2BR
$39,760
per year, at 30% of income
Rank in Iowa
27th of 99
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Hamilton moves to $1,004. That's up 1%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Hamilton actually rent for?
Search any address in Hamilton 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 | $738 | $664 to $812 | $29,520 | $14.19/hr | +4.8% |
| 1 bedroom | $791 | $712 to $870 | $31,640 | $15.21/hr | +5.0% |
| 2 bedroom | $994 | $895 to $1,093 | $39,760 | $19.12/hr | +4.1% |
| 3 bedroom | $1,192 | $1,073 to $1,311 | $47,680 | $22.92/hr | +3.6% |
| 4 bedroom | $1,316 | $1,184 to $1,448 | $52,640 | $25.31/hr | +3.9% |
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 | $1,513 | $1,362 to $1,664 |
| 6 bedroom Estimate | $1,711 | $1,540 to $1,882 |
| 7 bedroom Estimate | $1,908 | $1,717 to $2,099 |
| 8 bedroom Estimate | $2,106 | $1,895 to $2,317 |
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 Hamilton, that runs from $738 for a studio up to $1,316 for four bedrooms, all five rates in the table above.
Because Hamilton 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, Blairsburg included.
Among Iowa's 99 counties, Hamilton ranks 27th for two-bedroom FMR. That's about 8% above the state median of $919 and about 2% below the national median county at $1,018. About 14,979 people live here, 51st 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 50249 (Stratford) and $1,110 in 50075 (Ellsworth), with the 9 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 Hamilton somewhere between $895 and $1,093. 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.
$994 a month is affordable, by HUD's 30% rule, on an income of roughly $39,760 a year. Put another way, $19 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% ($895) | HAP at 100% ($994) | HAP at 110% ($1,093) |
|---|---|---|---|---|
| $2,500 | $750 | $145 | $244 | $343 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 4% from FY 2025 ($955) to FY 2026 ($994). Since FY 2020 it's up 40% in total, about 5.8% 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 | $513 | $553 | $709 | $884 | $1,245 | — |
| FY 2021 | $547 | $578 | $754 | $938 | $1,121 | +6.3% |
| FY 2022 | $584 | $614 | $808 | $999 | $1,286 | +7.2% |
| FY 2023 | $642 | $668 | $879 | $1,070 | $1,181 | +8.8% |
| FY 2024 | $691 | $720 | $946 | $1,144 | $1,260 | +7.6% |
| FY 2025 | $704 | $753 | $955 | $1,151 | $1,266 | +1.0% |
| FY 2026 | $738 | $791 | $994 | $1,192 | $1,316 | +4.1% |
| FY 2027 | $746 | $796 | $1,004 | $1,196 | $1,320 | +1.0% |
Nearby counties
Questions people ask
$994 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $738 for a studio, $791 for one bedroom, $1,192 for three and $1,316 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 Hamilton actually go for?
HUD's number is one input. Search any address in Hamilton for a rent estimate built from nearby comps. 3 free searches, no card.
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