HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Marshall County, Iowa (FY 2027)
$940 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Marshall County, and it's the baseline every voucher in Marshall is measured against.
Two-bedroom FMR
$940
-2.0% from FY 2026
Payment standard
$846–$1,034
90% to 110% of the FMR, two-bedroom
Income to afford
$37,600
a year, with rent at 30% of income
Rank in Iowa
48th 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 | $698 | $628–$768 | $27,920 | $13.42/hr | -2.0% |
| 1 bedroom | $719 | $647–$791 | $28,760 | $13.83/hr | -1.6% |
| 2 bedroom | $940 | $846–$1,034 | $37,600 | $18.08/hr | -2.0% |
| 3 bedroom | $1,231 | $1,108–$1,354 | $49,240 | $23.67/hr | -2.7% |
| 4 bedroom | $1,235 | $1,112–$1,359 | $49,400 | $23.75/hr | -2.8% |
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 | $1,420 | $1,278–$1,562 |
| 6 bedroom Estimate | $1,606 | $1,445–$1,767 |
| 7 bedroom Estimate | $1,791 | $1,612–$1,970 |
| 8 bedroom Estimate | $1,976 | $1,778–$2,174 |
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 Marshall actually rent for?
Search any address in Marshall for a rent estimate built from nearby comps, with the HUD figure right next to it.
No card needed
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 Marshall somewhere between $846 and $1,034. 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.
$940 a month is affordable, by HUD's 30% rule, on an income of roughly $37,600 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%$846 | Voucher pays at 100%$940 | Voucher pays at 110%$1,034 |
|---|---|---|---|---|
| $2,500 | $750 | $96 | $190 | $284 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went down 2% from FY 2026 ($959) to FY 2027 ($940). Since FY 2020 it's up 22% in total, about 2.9% 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 | $502 | $602 | $771 | $978 | $1,044 | — |
| FY 2021 | $535 | $610 | $776 | $993 | $1,052 | +0.6% |
| FY 2022 | $581 | $624 | $810 | $1,023 | $1,098 | +4.4% |
| FY 2023 | $639 | $652 | $844 | $1,114 | $1,134 | +4.2% |
| FY 2024 | $699 | $723 | $947 | $1,260 | $1,261 | +12.2% |
| FY 2025 | $706 | $735 | $958 | $1,265 | $1,270 | +1.2% |
| FY 2026 | $712 | $731 | $959 | $1,265 | $1,270 | +0.1% |
| FY 2027In effect | $698 | $719 | $940 | $1,231 | $1,235 | -2.0% |
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 Marshall, that runs from $698 for a studio up to $1,235 for four bedrooms, all five rates in the table above.
Because Marshall 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, Albion included.
Among Iowa's 99 counties, Marshall ranks 48th for two-bedroom FMR. That's within a couple percent of the state median of $927 and about 12% below the national median county at $1,063. About 40,114 people live here, 15th 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 50005 (Albion) and $1,410 in 50162 (Melbourne), with the 13 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 |
|---|---|---|---|
| 50005 | Albion | $930 | -1.1% |
| 50051 | Clemons | $930 | -1.1% |
| 50078 | Ferguson | $940 | 0.0% |
| 50106 | Gilman | $930 | -1.1% |
| 50120 | Haverhill | $1,160 | +23.4% |
| 50141 | Laurel | $1,040 | +10.6% |
| 50142 | Le Grand | $930 | -1.1% |
| 50148 | Liscomb | $1,100 | +17.0% |
| 50158 | Marshalltown | $940 | 0.0% |
| 50162 | Melbourne | $1,410 | +50.0% |
| 50234 | Rhodes | $970 | +3.2% |
| 50239 | Saint Anthony | $1,040 | +10.6% |
| 50247 | State Center | $1,040 | +10.6% |
Nearby counties
Two-bedroom FMR, with how each compares to Marshall.
Jasper County
24 mi · 37,954 people
$989
+5%
Tama County
26 mi · 16,868 people
$945
+1%
Hardin County
27 mi · 16,639 people
$927
-1%
Story County
27 mi · 100,466 people
$1,061
+13%
Grundy County
28 mi · 12,384 people
$1,096
+17%
Poweshiek County
34 mi · 18,545 people
$1,014
+8%
Polk County
39 mi · 503,175 people
$1,360
+45%
Hamilton County
43 mi · 14,886 people
$1,004
+7%
Questions people ask
$940 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $698 for a studio, $719 for one bedroom, $1,231 for three and $1,235 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 Marshall actually go for?
HUD's number is one input. Search any address in Marshall for a rent estimate built from nearby comps. Free to start, no card.
Free tier. No credit card.