FMR is near market; voucher and private rents are aligned.
1.00
1 BR
1 BR- 50613
0.96ratio
FMR$1,000
Market$1,040
vs market-$40
FMR is near market; voucher and private rents are aligned.
0.96
2 BR
2 BR- 50613
1.03ratio
FMR$1,310
Market$1,270
vs market+$40
FMR is near market; voucher and private rents are aligned.
1.03
3 BR
3 BR- 50613
1.15ratio
FMR$1,670
Market$1,450
vs market+$220
FMR is above market; underwrite to market rent.
1.15
4 BR
4 BR- 50613
1.13ratio
FMR$2,190
Market$1,940
vs market+$250
FMR is above market; underwrite to market rent.
1.13
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Cedar Falls, IA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Cedar Falls, IA is $1,310 a month. That is up 8.3% from $1,210 in FY 2026. Cedar Falls is in the Waterloo-Cedar Falls, IA HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,096. The median county two-bedroom FMR in Iowa is $927, so Cedar Falls is 41% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Cedar Falls, IA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$830
$910
+9.6%
$819–$1,001
1BR
$920
$1,000
+8.7%
$900–$1,100
2BR
$1,210
$1,310
+8.3%
$1,179–$1,441
3BR
$1,560
$1,670
+7.1%
$1,503–$1,837
4BR
$2,030
$2,190
+7.9%
$1,971–$2,409
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Cedar Falls, IA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$910
$1,000
$1,310
$1,670
$2,190
FY 2026
$830
$920
$1,210
$1,560
$2,030
FY 2025
$770
$850
$1,120
$1,460
$1,880
FY 2024
$730
$840
$1,070
$1,420
$1,820
FY 2023
$700
$820
$1,040
$1,380
$1,770
Questions about Cedar Falls, IA rents
How much will Section 8 pay for a two-bedroom in Cedar Falls, IA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,096, which applies unless the housing authority uses Small Area FMRs, that basic range is $986 to $1,206 a month; under the ZIP-level Small Area FMR of $1,310 it would be $1,179 to $1,441. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Cedar Falls, IA in?
Cedar Falls, IA is in the Waterloo-Cedar Falls, IA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,096.
How much did fair market rent change in Cedar Falls, IA for FY 2027?
The two-bedroom FMR rose 8.3%, from $1,210 in FY 2026 to $1,310 in FY 2027. Since FY 2023 it has risen 26.0%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set