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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Mount Vernon, IA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Mount Vernon, IA is $1,030 a month. That is up 3.0% from $1,000 in FY 2026. Mount Vernon is in the Cedar Rapids, 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 $1,054. The median county two-bedroom FMR in Iowa is $927, so Mount Vernon is 11% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Mount Vernon, IA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$740
$800
+8.1%
$720–$880
1BR
$830
$870
+4.8%
$783–$957
2BR
$1,000
$1,030
+3.0%
$927–$1,133
3BR
$1,400
$1,430
+2.1%
$1,287–$1,573
4BR
$1,680
$1,730
+3.0%
$1,557–$1,903
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Mount Vernon, IA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$800
$870
$1,030
$1,430
$1,730
FY 2026
$740
$830
$1,000
$1,400
$1,680
FY 2025
$710
$820
$980
$1,380
$1,660
FY 2024
$730
$830
$1,020
$1,450
$1,730
FY 2023
$690
$770
$960
$1,360
$1,640
Questions about Mount Vernon, IA rents
How much will Section 8 pay for a two-bedroom in Mount Vernon, IA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,054, which applies unless the housing authority uses Small Area FMRs, that basic range is $949 to $1,159 a month; under the ZIP-level Small Area FMR of $1,030 it would be $927 to $1,133. 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 Mount Vernon, IA in?
Mount Vernon, IA is in the Cedar Rapids, IA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,054.
How much did fair market rent change in Mount Vernon, IA for FY 2027?
The two-bedroom FMR rose 3.0%, from $1,000 in FY 2026 to $1,030 in FY 2027. Since FY 2023 it has risen 7.3%.
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