Grundy County, IA: Fair Market Rent 2027 and Income Limits

Official HUD figures for landlords and renters, effective October 1, 2026 (rents) and May 1, 2026 (income limits).

$1,0962-bedroom FMR, FY2027

$8381-bedroom FMR, FY2027

$75,30080% income limit, family of 4 (FY2026)

$91,000Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Grundy County is $1,096 a month, up 4.3% from $1,051 in FY2026. Grundy County belongs to the Waterloo-Cedar Falls, IA HUD Metro FMR Area FMR area, so the same figures apply across that area. FMRs are gross rents: rent plus all tenant-paid utilities except phone, cable and internet.

Fair market rent in Grundy County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$763	$725	+5.2%	$687 – $839
1 bedroom	$838	$801	+4.6%	$755 – $921
2 bedrooms	$1,096	$1,051	+4.3%	$987 – $1,205
3 bedrooms	$1,401	$1,357	+3.2%	$1,261 – $1,541
4 bedrooms	$1,832	$1,763	+3.9%	$1,649 – $2,015

Source: HUD Fair Market Rents FY2027 (effective October 1, 2026) and FY2026 (revised file), details.

What can a landlord charge a Section 8 tenant here?

The FMR is not a cap on what you can ask on the open market. For a Housing Choice Voucher tenant, the local housing authority sets a payment standard, normally between 90% and 110% of the FMR (or of the ZIP-level Small Area FMR where those apply). For a two-bedroom unit in Grundy County that is typically $987 to $1,205 including utilities. You can charge more than the payment standard if the rent passes the housing authority's rent-reasonableness test and, at move-in, the tenant's share stays within 40% of their adjusted monthly income. Ask the housing authority for its current payment standard schedule.

Can local renters afford the fair market rent?

$38,523median income of renter households

$774Median gross rent, all units

24%Rent-to-income ratio (median rent ÷ median renter income)

27%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $38,523 can afford about $963 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,096 is $133 (13.8%) more than that. To rent a two-bedroom at the FMR, a household needs $43,840 a year under the 30% rule, or $39,456 under the common landlord rule that income must be three times the rent.

Grundy County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$774 ±$53
Median income of renter households	$38,523 ±$8,554
Renters paying 30% or more of income (cost-burdened)	27.4% ±7.8
Renters paying 50% or more (severely cost-burdened)	16.6% ±7.3
Renter households (where the share can be computed)	718

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$633	$774	+22.3%
Median renter household income	$42,788	$38,523	−10.0%
Renters paying 30%+ of income	30.5%	27.4%	−3.1 pts

Rent-to-income calculator: does an applicant qualify? → · Most affordable counties to rent in this state →

Source: U.S. Census Bureau, American Community Survey 5-Year Estimates 2020–2024 and 2015–2019 (tables B25064, B25119, B25070). ± = margin of error at 90% confidence. Dollar figures are not adjusted for inflation.

Small Area FMRs by ZIP code (FY2027)

In metro areas HUD also publishes ZIP-level Small Area Fair Market Rents. Housing authorities in designated areas must use them for voucher payment standards; others may opt in. Here the two-bedroom SAFMR ranges from $950 to $1,310 depending on the ZIP code.

All 37 ZIP codes in this FMR area

ZIP	0 BR	1 BR	2 BR	3 BR	4 BR
50148	$820	$840	$1,100	$1,440	$1,590
50258	$690	$730	$950	$1,230	$1,590
50269	$690	$730	$950	$1,230	$1,590
50601	$690	$730	$950	$1,230	$1,590
50604	$690	$730	$950	$1,230	$1,590
50609	$660	$730	$950	$1,230	$1,590
50612	$740	$790	$1,030	$1,320	$1,590
50613	$910	$1,000	$1,310	$1,670	$2,190
50621	$660	$730	$950	$1,230	$1,590
50622	$660	$730	$950	$1,230	$1,590
50623	$700	$780	$1,010	$1,290	$1,690
50624	$660	$730	$950	$1,230	$1,590
50626	$660	$730	$950	$1,230	$1,590
50627	$700	$730	$950	$1,230	$1,590
50629	$690	$730	$950	$1,260	$1,590
50634	$660	$730	$950	$1,230	$1,590
50638	$660	$730	$950	$1,230	$1,590
50642	$880	$960	$1,260	$1,610	$2,110
50643	$800	$880	$1,150	$1,470	$1,920
50647	$810	$880	$1,150	$1,470	$1,710
50648	$750	$770	$1,000	$1,370	$1,640
50651	$710	$780	$1,020	$1,310	$1,680
50657	$660	$730	$950	$1,230	$1,590
50660	$770	$790	$1,040	$1,240	$1,590
50665	$710	$740	$970	$1,230	$1,590
50667	$740	$800	$1,050	$1,360	$1,750
50668	$660	$730	$950	$1,230	$1,590
50669	$660	$730	$950	$1,230	$1,590
50672	$690	$730	$950	$1,230	$1,590
50673	$710	$770	$1,000	$1,290	$1,680
50675	$740	$760	$990	$1,260	$1,590
50680	$660	$730	$950	$1,230	$1,590
50701	$720	$790	$1,030	$1,320	$1,720
50702	$790	$870	$1,140	$1,460	$1,910
50703	$750	$830	$1,080	$1,380	$1,810
50704	$770	$850	$1,110	$1,420	$1,860
50707	$730	$800	$1,050	$1,340	$1,760

Source: HUD FY2027 Small Area FMRs (effective October 1, 2026).

HUD income limits for Grundy County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $91,000 (FY2025: $90,400, +0.7%). Small figures under each limit show the change from FY2025.

Household size	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
Extremely low income (30%)	$19,800 +2.3%	$22,600 +2.3%	$27,320 +2.5%	$33,000 +2.6%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$32,950 +2.3%	$37,650 +2.3%	$42,350 +2.3%	$47,050 +2.3%	$50,850 +2.3%	$54,600 +2.2%	$58,350 +2.3%	$62,150 +2.3%
Low income (80%)	$52,750 +2.3%	$60,250 +2.3%	$67,800 +2.3%	$75,300 +2.3%	$81,350 +2.3%	$87,350 +2.3%	$93,400 +2.3%	$99,400 +2.3%

The 30% limit is HUD's “extremely low income” limit: the higher of 30% of median income or the federal poverty guideline, but never above the 50% limit. That is why it can rise faster than 30% of median for larger households. Tax-credit (LIHTC) properties use separate Multifamily Tax Subsidy Project limits.

Source: HUD Section 8 Income Limits FY2026 (effective May 1, 2026) and FY2025, details.