Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Lewis, IA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Lewis, IA is $1,010 a month. That is up 5.2% from $960 in FY 2026. Lewis is in the Omaha-Council Bluffs, NE-IA HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Iowa is $927, so Lewis is 9% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Lewis, IA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$730
$770
+5.5%
$693–$847
1BR
$800
$810
+1.3%
$729–$891
2BR
$960
$1,010
+5.2%
$909–$1,111
3BR
$1,320
$1,400
+6.1%
$1,260–$1,540
4BR
$1,540
$1,650
+7.1%
$1,485–$1,815
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Lewis, IA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$770
$810
$1,010
$1,400
$1,650
FY 2026
$730
$800
$960
$1,320
$1,540
FY 2025
$810
$880
$1,060
$1,410
$1,560
FY 2024
$730
$800
$980
$1,310
$1,450
FY 2023
$630
$720
$880
$1,180
$1,320
Questions about Lewis, IA rents
How much will Section 8 pay for a two-bedroom in Lewis, IA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,010, that basic range is $909 to $1,111 a month. 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 Lewis, IA in?
Lewis, IA is in the Omaha-Council Bluffs, NE-IA HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Lewis, IA for FY 2027?
The two-bedroom FMR rose 5.2%, from $960 in FY 2026 to $1,010 in FY 2027. Since FY 2023 it has risen 14.8%.
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