Iowa · FIPS 19015 · HUD FY 2027
Boone County, Iowa Fair Market Rent
HUD’s FY 2027 Fair Market Rent for a 2-bedroom in Boone County is $967 a month (rent plus utilities), 13% below the Iowa average of $1,113 and 45% below the U.S. average of $1,761. That is down $59 (5.8%) from FY 2026. At 30% of income, a household needs about $38,680 a year to afford it.
- $9672-bedroom FMR−$59 (−5.8%) vs FY 2026
- $7681-bedroom FMRIowa: $902 · U.S.: $1,478
- $38,680Income for a 2-bedroom$19/hour full-time
- 35 of 992BR rank in Iowa1 = highest rent
| Unit | Boone County FY 2027 | FY 2026 | Change | Iowa avg | U.S. avg | Income needed |
|---|---|---|---|---|---|---|
| Studio | $763 | $783 | −$20 (−2.6%) | $846 | $1,379 | $30,520 |
| 1 bedroom | $768 | $788 | −$20 (−2.5%) | $902 | $1,478 | $30,720 |
| 2 bedrooms | $967 | $1,026 | −$59 (−5.8%) | $1,113 | $1,761 | $38,680 |
| 3 bedrooms | $1,339 | $1,427 | −$88 (−6.2%) | $1,475 | $2,266 | $53,560 |
| 4 bedrooms | $1,453 | $1,500 | −$47 (−3.1%) | $1,649 | $2,607 | $58,120 |
How Boone County compares
- HUD sets this rent for the Boone County, IA metro FMR area, which covers 26,668 residents in 1 county.
- Across Iowa, 2-bedroom FMRs run from $927 (Worth County) to $1,450 (Harrison County).
- Studio to 4-bedroom: $763, $768, $967, $1,339, $1,453. HUD derives the other sizes from the 2-bedroom figure with fixed ratios, adjusted where local data warrant.
- HUD also publishes ZIP-level Small Area FMRs. For the 8 ZIP codes mostly in Boone County (by land area), the 2-bedroom figure ranges from $930 to $1,040.
Small Area FMRs by ZIP code in Boone County
| ZIP | Studio | 1BR | 2BR | 3BR | 4BR | 2BR vs FY 2026 | 2BR vs area FMR |
|---|---|---|---|---|---|---|---|
| 50031 | $730 | $740 | $930 | $1,290 | $1,390 | −$30 (−3.1%) | 4% below |
| 50036 | $770 | $770 | $970 | $1,340 | $1,460 | −$60 (−5.8%) | about the same as |
| 50040 | $720 | $730 | $930 | $1,290 | $1,400 | −$10 (−1.1%) | 4% below |
| 50152 | $790 | $800 | $990 | $1,370 | $1,480 | −$30 (−2.9%) | 2% above |
| 50156 | $790 | $800 | $990 | $1,370 | $1,480 | −$30 (−2.9%) | 2% above |
| 50212 | $730 | $740 | $930 | $1,290 | $1,390 | −$30 (−3.1%) | 4% below |
| 50223 | $730 | $740 | $930 | $1,290 | $1,390 | +$10 (+1.1%) | 4% below |
| 50276 | $830 | $850 | $1,040 | $1,420 | $1,500 | +$10 (+1.0%) | 8% above |
Sources
- U.S. Department of Housing and Urban Development, HUD User Fair Market Rents: FY 2027 FMRs (file dated August 26, 2026) and FY 2026 FMRs (file dated April 21, 2026).
- HUD User Small Area Fair Market Rents: FY 2027 SAFMRs (file dated August 31, 2026) and FY 2026 SAFMRs (file dated April 21, 2026).
- ZIP-to-county assignment: Census Bureau 2020 ZCTA-to-county relationship file (file dated December 9, 2021), largest land-area overlap.
Fair Market Rents are HUD’s estimate of gross rent (rent plus utilities) for a modest unit, set at the 40th percentile of recent-mover rents. FY 2027 is HUD’s fiscal year beginning October 1, 2026. Housing authorities set voucher payment standards from these figures; check yours.