FMR is below market; voucher rent may lag private rents.
0.75
1 BR
1 BR- 50428
0.74ratio
FMR$750
Market$1,020
vs market-$270
FMR is below market; voucher rent may lag private rents.
0.74
2 BR
2 BR- 50428
0.86ratio
FMR$930
Market$1,080
vs market-$150
FMR is below market; voucher rent may lag private rents.
0.86
3 BR
3 BR- 50428
0.74ratio
FMR$1,220
Market$1,650
vs market-$430
FMR is below market; voucher rent may lag private rents.
0.74
4 BR
4 BR- 50428
0.82ratio
FMR$1,490
Market$1,810
vs market-$320
FMR is below market; voucher rent may lag private rents.
0.82
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
--
Clear Lake, IA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Clear Lake, IA is $930 a month. That is up 1.1% from $920 in FY 2026. Clear Lake is in the Cerro Gordo County, IA non-metropolitan 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 county-wide two-bedroom FMR of $927.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Clear Lake, IA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$720
$740
+2.8%
$666–$814
1BR
$730
$750
+2.7%
$675–$825
2BR
$920
$930
+1.1%
$837–$1,023
3BR
$1,190
$1,220
+2.5%
$1,098–$1,342
4BR
$1,400
$1,490
+6.4%
$1,341–$1,639
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Clear Lake, IA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$740
$750
$930
$1,220
$1,490
FY 2026
$720
$730
$920
$1,190
$1,400
FY 2025
$670
$680
$880
$1,120
$1,340
FY 2024area FMR
$649
$677
$889
$1,145
$1,323
FY 2023area FMR
$610
$634
$835
$1,080
$1,262
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about Clear Lake, IA rents
How much will Section 8 pay for a two-bedroom in Clear Lake, IA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $927, which applies unless the housing authority uses Small Area FMRs, that basic range is $834 to $1,020 a month; under the ZIP-level Small Area FMR of $930 it would be $837 to $1,023. 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 Clear Lake, IA in?
Clear Lake, IA is in the Cerro Gordo County, IA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $927.
How much did fair market rent change in Clear Lake, IA for FY 2027?
The two-bedroom FMR rose 1.1%, from $920 in FY 2026 to $930 in FY 2027. Since FY 2025 it has risen 5.7%.
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