Madison 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).

$1,3602-bedroom FMR, FY2027

$1,1451-bedroom FMR, FY2027

$93,10080% income limit, family of 4 (FY2026)

$116,400Median family income (FY2026)

The FY2027 Fair Market Rent for a two-bedroom unit in Madison County is $1,360 a month, up 3.2% from $1,318 in FY2026. Madison County belongs to the Des Moines-West Des Moines, 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 Madison County by bedroom count

Unit size	FY2027 FMR	FY2026 FMR	Change	Payment standard range (90–110%)
Studio	$1,102	$1,063	+3.7%	$992 – $1,212
1 bedroom	$1,145	$1,109	+3.2%	$1,031 – $1,259
2 bedrooms	$1,360	$1,318	+3.2%	$1,224 – $1,496
3 bedrooms	$1,856	$1,794	+3.5%	$1,671 – $2,041
4 bedrooms	$1,901	$1,841	+3.3%	$1,711 – $2,091

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 Madison County that is typically $1,224 to $1,496 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?

$44,255median income of renter households

$1,036Median gross rent, all units

28%Rent-to-income ratio (median rent ÷ median renter income)

36%of renter households pay 30% or more of income on rent

At the 30% rule, a renter household earning the local median of $44,255 can afford about $1,106 a month including utilities. The FY2027 two-bedroom Fair Market Rent of $1,360 is $254 (22.9%) more than that. To rent a two-bedroom at the FMR, a household needs $54,400 a year under the 30% rule, or $48,960 under the common landlord rule that income must be three times the rent.

Madison County, ACS 2020–2024	Estimate ± MOE
Median gross rent (rent + utilities)	$1,036 ±$149
Median income of renter households	$44,255 ±$7,331
Renters paying 30% or more of income (cost-burdened)	36.3% ±12.7
Renters paying 50% or more (severely cost-burdened)	14.2% ±7.3
Renter households (where the share can be computed)	1,234

Change since 2015–2019

	ACS 2015–2019	ACS 2020–2024	Change
Median gross rent	$789	$1,036	+31.3%
Median renter household income	$43,173	$44,255	+2.5%
Renters paying 30%+ of income	29.6%	36.3%	+6.7 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 $930 to $1,790 depending on the ZIP code.

All 111 ZIP codes in this FMR area

ZIP	0 BR	1 BR	2 BR	3 BR	4 BR
50001	$1,360	$1,410	$1,680	$2,290	$2,350
50002	$780	$810	$1,030	$1,350	$1,480
50003	$970	$1,010	$1,200	$1,640	$1,680
50007	$980	$1,020	$1,180	$1,620	$1,830
50009	$1,170	$1,210	$1,440	$1,970	$2,010
50020	$690	$730	$930	$1,280	$1,530
50021	$1,370	$1,420	$1,690	$2,310	$2,360
50023	$1,180	$1,230	$1,460	$1,990	$2,040
50025	$690	$850	$930	$1,240	$1,550
50026	$740	$770	$930	$1,260	$1,320
50029	$860	$890	$1,060	$1,450	$1,480
50032	$1,160	$1,200	$1,430	$1,950	$1,990
50033	$880	$920	$1,090	$1,490	$1,520
50035	$1,130	$1,180	$1,400	$1,910	$1,960
50038	$1,020	$1,060	$1,260	$1,720	$1,760
50039	$880	$910	$1,090	$1,490	$1,520
50046	$960	$1,020	$1,160	$1,590	$1,860
50047	$1,320	$1,370	$1,630	$2,220	$2,280
50048	$850	$880	$1,060	$1,440	$1,500
50054	$790	$800	$1,000	$1,340	$1,410
50058	$800	$810	$940	$1,200	$1,280
50061	$1,070	$1,110	$1,320	$1,790	$1,840
50063	$920	$960	$1,140	$1,560	$1,590
50066	$890	$920	$1,120	$1,510	$1,610
50069	$920	$960	$1,140	$1,560	$1,590
50070	$880	$910	$1,080	$1,470	$1,520
50072	$970	$1,010	$1,200	$1,640	$1,680
50073	$1,100	$1,150	$1,340	$1,840	$1,980
50076	$690	$850	$930	$1,240	$1,550
50109	$910	$940	$1,120	$1,530	$1,570
50111	$1,120	$1,160	$1,380	$1,880	$1,930
50115	$790	$830	$980	$1,340	$1,370
50118	$1,130	$1,170	$1,390	$1,900	$1,940
50124	$1,140	$1,200	$1,350	$1,870	$2,250
50125	$960	$990	$1,180	$1,610	$1,650
50128	$740	$760	$930	$1,250	$1,330
50129	$690	$710	$930	$1,210	$1,450
50131	$1,250	$1,300	$1,540	$2,100	$2,150
50139	$920	$970	$1,180	$1,570	$1,630
50145	$940	$970	$1,180	$1,600	$1,640
50146	$1,310	$1,360	$1,620	$2,210	$2,260
50149	$740	$800	$1,010	$1,340	$1,360
50151	$1,080	$1,110	$1,450	$1,950	$1,960
50155	$830	$880	$1,090	$1,450	$1,480
50156	$790	$800	$990	$1,370	$1,480
50160	$830	$860	$1,020	$1,390	$1,430
50161	$830	$880	$1,000	$1,380	$1,610
50164	$740	$760	$930	$1,250	$1,310
50166	$910	$940	$1,120	$1,530	$1,570
50167	$890	$930	$1,100	$1,500	$1,540
50168	$810	$830	$1,000	$1,350	$1,490
50169	$770	$800	$960	$1,300	$1,340
50174	$660	$780	$950	$1,280	$1,280
50210	$1,030	$1,080	$1,280	$1,750	$1,790
50211	$1,050	$1,090	$1,290	$1,760	$1,800
50213	$660	$780	$950	$1,280	$1,280
50216	$980	$1,020	$1,210	$1,650	$1,690
50218	$1,000	$1,040	$1,240	$1,690	$1,730
50220	$900	$940	$1,120	$1,520	$1,570
50222	$840	$900	$1,090	$1,470	$1,500
50225	$670	$770	$950	$1,140	$1,290
50226	$750	$790	$930	$1,270	$1,300
50228	$770	$780	$980	$1,310	$1,380
50229	$960	$1,000	$1,190	$1,620	$1,660
50233	$920	$960	$1,150	$1,550	$1,600
50235	$830	$860	$1,120	$1,470	$1,750
50237	$750	$780	$930	$1,260	$1,300
50240	$880	$920	$1,090	$1,490	$1,520
50241	$1,000	$1,050	$1,250	$1,700	$1,740
50243	$1,060	$1,110	$1,300	$1,780	$1,940
50244	$780	$820	$930	$1,280	$1,520
50250	$810	$840	$1,040	$1,390	$1,470
50252	$800	$860	$1,050	$1,360	$1,450
50257	$830	$860	$1,020	$1,400	$1,430
50261	$930	$970	$1,150	$1,570	$1,610
50263	$1,260	$1,310	$1,560	$2,130	$2,180
50265	$1,070	$1,110	$1,320	$1,800	$1,850
50266	$1,330	$1,380	$1,640	$2,240	$2,290
50273	$1,000	$1,040	$1,240	$1,690	$1,730
50276	$830	$850	$1,040	$1,420	$1,500
50277	$850	$880	$1,050	$1,430	$1,470
50301	$1,090	$1,130	$1,340	$1,830	$1,870
50302	$1,090	$1,130	$1,340	$1,830	$1,870
50303	$1,090	$1,130	$1,340	$1,830	$1,870
50304	$1,090	$1,130	$1,340	$1,830	$1,870
50305	$1,090	$1,130	$1,340	$1,830	$1,870
50309	$1,160	$1,200	$1,430	$1,950	$2,000
50310	$1,030	$1,070	$1,270	$1,730	$1,780
50311	$970	$1,010	$1,200	$1,640	$1,680
50312	$1,020	$1,060	$1,260	$1,720	$1,760
50313	$1,050	$1,090	$1,290	$1,760	$1,800
50314	$940	$980	$1,160	$1,580	$1,620
50315	$1,050	$1,090	$1,290	$1,760	$1,800
50316	$960	$990	$1,180	$1,610	$1,650
50317	$1,020	$1,060	$1,260	$1,720	$1,760
50318	$1,090	$1,130	$1,340	$1,830	$1,870
50319	$1,090	$1,130	$1,340	$1,830	$1,870
50320	$1,070	$1,110	$1,320	$1,800	$1,850
50321	$1,080	$1,120	$1,330	$1,820	$1,860
50322	$1,130	$1,180	$1,400	$1,910	$1,960
50323	$1,450	$1,510	$1,790	$2,440	$2,500
50324	$1,300	$1,360	$1,610	$2,200	$2,250
50325	$1,060	$1,100	$1,310	$1,790	$1,830
50327	$1,170	$1,210	$1,440	$1,970	$2,010
50363	$1,090	$1,130	$1,340	$1,830	$1,870
50368	$1,090	$1,130	$1,340	$1,830	$1,870
50380	$1,090	$1,130	$1,340	$1,830	$1,870
50391	$1,090	$1,130	$1,340	$1,830	$1,870
50395	$1,090	$1,130	$1,340	$1,830	$1,870
50858	$700	$730	$950	$1,240	$1,320
50947	$1,090	$1,130	$1,340	$1,830	$1,870

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

HUD income limits for Madison County (FY2026)

Income limits decide who qualifies for Section 8 vouchers, public housing and most HUD-assisted units. The area median family income is $116,400 (FY2025: $114,500, +1.7%). 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%)	$24,450 +1.7%	$27,950 +1.6%	$31,450 +1.6%	$34,900 +1.6%	$38,680 +2.7%	$44,360 +2.8%	$50,040 +2.9%	$55,720 +2.9%
Very low income (50%)	$40,750 +1.6%	$46,600 +1.7%	$52,400 +1.6%	$58,200 +1.7%	$62,900 +1.7%	$67,550 +1.7%	$72,200 +1.7%	$76,850 +1.7%
Low income (80%)	$65,200 +1.6%	$74,500 +1.6%	$83,800 +1.6%	$93,100 +1.6%	$100,550 +1.6%	$108,000 +1.6%	$115,450 +1.6%	$122,900 +1.6%

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.