Henry 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).

$9582-bedroom FMR, FY2027

$7321-bedroom FMR, FY2027

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

$86,600Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Henry County is $958 a month, up 2.0% from $939 in FY2026. Henry County belongs to the Henry County, IA FMR area (non-metro county), 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 Henry County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$667	$647	+3.1%	$601 – $733
1 bedroom	$732	$716	+2.2%	$659 – $805
2 bedrooms	$958	$939	+2.0%	$863 – $1,053
3 bedrooms	$1,259	$1,242	+1.4%	$1,134 – $1,384
4 bedrooms	$1,264	$1,360	−7.1%	$1,138 – $1,390

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 Henry County that is typically $863 to $1,053 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?

$36,083median income of renter households

$820Median gross rent, all units

27%Rent-to-income ratio (median rent ÷ median renter income)

39%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $36,083 can afford about $902 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $958 is $56 (6.2%) more than that. To rent a two-bedroom at the FMR, a household needs $38,320 a year under the 30% rule, or $34,488 under the common landlord rule that income must be three times the rent.

Henry County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$820 ±$49
Median income of renter households	$36,083 ±$5,753
Renters paying 30% or more of income (cost-burdened)	38.9% ±7.3
Renters paying 50% or more (severely cost-burdened)	22.2% ±7.0
Renter households (where the share can be computed)	1,738

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$694	$820	+18.2%
Median renter household income	$34,548	$36,083	+4.4%
Renters paying 30%+ of income	35.3%	38.9%	+3.6 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.

HUD income limits for Henry County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $86,600 (FY2025: $86,000, +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.