HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Wapello County, Iowa (FY 2026)
HUD's FY 2026 Fair Market Rent for a two-bedroom in Wapello County is $1,068 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
2 bedroom FMR
$1,068
FY 2026, utilities included
Payment standard range
$961 to $1,175
90% to 110% of FMR
Income to afford 2BR
$42,720
per year, at 30% of income
Rank in Iowa
18th of 99
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Wapello moves to $1,076. 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 Wapello actually rent for?
Search any address in Wapello 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 | $793 | $714 to $872 | $31,720 | $15.25/hr | +5.7% |
| 1 bedroom | $814 | $733 to $895 | $32,560 | $15.65/hr | +4.9% |
| 2 bedroom | $1,068 | $961 to $1,175 | $42,720 | $20.54/hr | +4.9% |
| 3 bedroom | $1,354 | $1,219 to $1,489 | $54,160 | $26.04/hr | +6.5% |
| 4 bedroom | $1,468 | $1,321 to $1,615 | $58,720 | $28.23/hr | +0.1% |
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 | $1,688 | $1,519 to $1,857 |
| 6 bedroom Estimate | $1,908 | $1,717 to $2,099 |
| 7 bedroom Estimate | $2,129 | $1,916 to $2,342 |
| 8 bedroom Estimate | $2,349 | $2,114 to $2,584 |
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 Wapello, that runs from $793 for a studio up to $1,468 for four bedrooms, all five rates in the table above.
Because Wapello 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, Ottumwa included.
Among Iowa's 99 counties, Wapello ranks 18th for two-bedroom FMR. That's about 16% above the state median of $919 and about 5% above the national median county at $1,018. About 35,292 people live here, 20th 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 52536 (Blakesburg) and $1,070 in 52501 (Ottumwa), with the 7 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 Wapello somewhere between $961 and $1,175. 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.
$1,068 a month is affordable, by HUD's 30% rule, on an income of roughly $42,720 a year. Put another way, $21 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% ($961) | HAP at 100% ($1,068) | HAP at 110% ($1,175) |
|---|---|---|---|---|
| $2,500 | $750 | $211 | $318 | $425 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 5% from FY 2025 ($1,018) to FY 2026 ($1,068). Since FY 2020 it's up 46% in total, about 6.5% 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 | $497 | $556 | $732 | $939 | $1,055 | — |
| FY 2021 | $563 | $576 | $759 | $967 | $1,134 | +3.7% |
| FY 2022 | $595 | $625 | $823 | $1,043 | $1,270 | +8.4% |
| FY 2023 | $647 | $672 | $885 | $1,102 | $1,368 | +7.5% |
| FY 2024 | $728 | $759 | $997 | $1,219 | $1,506 | +12.7% |
| FY 2025 | $750 | $776 | $1,018 | $1,271 | $1,467 | +2.1% |
| FY 2026 | $793 | $814 | $1,068 | $1,354 | $1,468 | +4.9% |
| FY 2027 | $799 | $823 | $1,076 | $1,409 | $1,414 | +0.7% |
Nearby counties
Questions people ask
$1,068 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $793 for a studio, $814 for one bedroom, $1,354 for three and $1,468 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 Wapello actually go for?
HUD's number is one input. Search any address in Wapello for a rent estimate built from nearby comps. 3 free searches, no card.
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